Browse related articlesMorgan Stanley downgrades DFM
United Arab Emirates: Wednesday, July 16 - 2008 at 14:54
Morgan Stanley has downgraded its rating of the Dubai Financial Market (DFM) to 'underweight' due to the disappointing trading pattern witnessed in the second quarter of 2008 and the belief that the market is still optimistic on the stock. With the average daily traded value of the market now close to the bank's forecasted 'Bear scenario' of Dhs1.5bn, Morgan Stanley has lowered its DFM traded value forecasts for 2008 and 2009 by 39%.
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Jeff Florian, Senior ReporterWednesday, July 16 - 2008 at 14:54 UAE local time (GMT+4)
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