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Analyst statements boost Abu Dhabi bourse
- United Arab Emirates: Wednesday, September 16 - 2009 at 14:21
Overall positive statements published by EFG Hermes on Abu Dhabi's real estate bellwethers lifted the capital's exchange ADX by 1.68%, closing at 3,051.65 points. EFG Hermes reiterated its long-term 'buy' recommendation for Sorouh Real Estate (up 4.37% at Dhs3.67). The Egyptian investment bank lowered its long-term rating for Aldar Properties (gaining 3.14% at Dhs5.69) from 'buy' to 'accumulate' but added that Aldar's portfolio and strategy remains sound. Abu Dhabi Ship Building Co. posted the largest drop (off 5.19% at Dhs3.65) among the four losing shares at the ADX which saw 159.4m shares changing hands.
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Gérard Al-Fil, Financial JournalistWednesday, September 16 - 2009 at 14:21 UAE local time (GMT+4)
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This article was updated on Thu Sep 17 2009.
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