MIDEAST STOCKS-Dana Gas down before sukuk trial, Qatar extends gains:
"Shares of Abu Dhabi-listed Dana Gas fell sharply early on Monday, before a London court hearing on its maturing sukuk issue, while Qatar bucked an otherwise weak regional market. They stocks sank 2.7 percent after 90 minutes of trade, heading to their third straight session of losses, as investors awaited the outcome of a London High Court trial on the validity of the $700-million sukuk. It focuses on Dana Gas’s June announcement that it would not redeem its outstanding sukuk, or Islamic bonds, on the grounds that due to changes in interpretation of Islamic finance they’re no longer sharia-compliant and therefore unlawful in the UAE."
'via Blog this'
No comments:
Post a Comment