Hilbroy Advisory Inc: Trading Volumes in Dubai and Abu Dhabi Plummeting: by Jean-Francois Amyot
Montreal, 7 November 2011 Hilbroy Advisory Inc. (Frankfurt: 2H0) –The UAE’s stock markets are stuck in a rut. Foreign investors are fleeing, local blue-chip companies are losing their appeal and global economic woes are taking their toll on sentiment. Yesterday’s volumes in Dubai showed some respite when they reached their highest daily level since early June; however, it was yet another short-lived rally with global markets rattled again by Greece’s decision to hold a referendum on the rescue package.
Trading volumes in Dubai and Abu Dhabi have plummeted to levels not seen for years as a result of heightened volatility across international equity indices, leading to a weakened appetite for risk and a lack of interest in the region among institutional investors; Jean-Francois Amyot. The volume of shares traded in Dubai has plummeted to a daily average of about 107 million against 161 million in 2010 and 470 million in 2009.
The drop has also had an impact in terms of market capitalisation with the Dubai Financial Market General Index down 11 per cent since the end of March and the Abu Dhabi Securities Exchange down almost five per cent in the same period.
Local bourses are currently closed for Eid Al Adha, allowing investors a little breathing space to consider their options as the world economy lurches from one crisis to another. International markets have been subject to extreme bouts of volatility over the last few months — primarily due to the United States’ credit downgrade and the sovereign debt crisis in the Eurozone. Local indices are not immune to wild fluctuations with the gloomy macro-economic outlook overshadowing solid company fundamentals — many UAE firms reported strong third-quarter earnings.
Local brokerages are also suffering with many having to scale down or close their operations due to the difficult economic climate. There are 59 brokerages operating in the UAE, down from 110 last year, according to the Securities and Commodities Authority.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential: Jean-Francois Amyot.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean-Francois Amyot
Hilbroy Advisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
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All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as “anticipates”, “believes”, “could”, “expects”, “intends”, “may”, “should”, and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
