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Dana Gas again in focus at Abu Dhabi market
- United Arab Emirates: Thursday, November 22 - 2012 at 14:40
The Abu Dhabi market ADX ended flat at 2,660 Thursday, after the gauge lost 1.1% over the week amid nervous hands due to the war in Palestine which ended Wednesday night with a ceasfire brokered by Egypt and the U. S. Shares of Dana Gas closed likewise unchanged at Dhs0.39. Earlier in the day, the Sharjah-based energt firm said it signed a set of agreements with the Sharjah and Ajman Governments to jointly develop the shared field located around 40km off the two coasts. In addition, Bloomberg reported Dana Gas plans to pay sukuk-holders $100m as part of its restructuring of $920m worth of debt the firm owes to investors after failing to settle a $920m sukuk which matured on October 31. The news agency cited "a person familiar with the deal". Developers and merger candidates Aldar Properties and Sorouh Real Estate fell again in lockstep, finishing off 0.80% at Dhs1.25 and Dhs1.23, respectively.
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Gérard Al-Fil, Financial JournalistThursday, November 22 - 2012 at 14:40 UAE local time (GMT+4)
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