in

Morgan 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%.

Jeff  Florian Jeff Florian, Senior Reporter
Wednesday, July 16 - 2008 at 14:54 UAE local time (GMT+4)

Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.

Disclaimer:
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AME Info Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AME Info Web site.

AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AME Info Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.

In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AME Info Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.

Email newsletters »

Business Directory »

The news you choose

News and Articles »

Today's top stories »

 

Current Events »

Sponsored Message