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Dana Gas soars, Aldar and Sorouh rise in lockstep
- United Arab Emirates: Sunday, November 25 - 2012 at 14:51
The Abu Dhabi market measure ADX General slipped 0.22% Sunday to finish at 2,636.53 points. Dana Gas jumped 5.13%, posting the largest gain to reach Dhs0.39 as investors were upbeat about news that the Sharjah-based energy firm was offering bondholders cash and an average eight per cent coupon on two new sukuks to replace the existing one, Reuters reported citing "two sources". Dana Gas did not settle a $920m Islamic bond which matured on Oct. 31 as the company struggled with payment collections in Egypt and Kurdistan. Merger candidates Aldar Properties and Sorouh Real Estate both gained 0.81% to close at Dhs1.24 and Dhs1.25, respectively.
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Gérard Al-Fil, Financial JournalistSunday, November 25 - 2012 at 14:51 UAE local time (GMT+4)
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