| |
Newsroom /
Business
/
Business
/
Hilbroy Advisory: Gulf markets slump on regional unrest
Hilbroy Advisory: Gulf markets slump on regional unrest
The latest cause for concern came after the six-member Gulf Cooperation Council deployed a Saudi-led force to prop up the monarchy in Bahrain.
Montreal,
Quebec,
Canada
(prbd.net)
18/03/2011
Montreal, Quebec, March 17, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: Gulf Arab stock markets slumped Tuesday and the cost of insuring Bahrain's debt surged, as investor unease with the political volatility in the tiny island nation appeared poised to grow with the declaration of a three-month state of emergency.
The declines, also fueled by fears of further trouble in earthquake and tsunami-battered Japan, reflected the continuing volatility in Mideast markets, where weeks of anti-regime protests that have swept through the Arab world are crafting daily a new political dynamic while unsettling investors.
The latest cause for concern came after the six-member Gulf Cooperation Council deployed a Saudi-led force to prop up the monarchy in Bahrain. The nation's king declared a state of emergency on Tuesday, giving the military sweeping authority to confront the opposition movement. Also, a Saudi official said that a Saudi sergeant was shot and killed by a protester in Bahrain's capital.
Saudi Arabia's benchmark Tadawul All Shares Index closed down 3.5 percent at nearly 6,012 points. The Dubai Financial Markets index recoil from steeper losses earlier in the day to close 1.9 percent lower. The losses affected all sectors.
Investor unease with the situation in Bahrain was reflected in the cost of insuring its debt. The five-year credit default swap for Bahrain surged by 40.88 basis points, to 347.2 basis points, according to financial data provider CMA.
The massive earthquake and tsunami last week in Japan has devastated the country, and fears of radiation leaks from a nuclear facility are further enflaming sentiment. Japan's Nikkei stock index plummeted nearly 11 percent Tuesday while other major world markets also slumped, but by far less.
Kuwait's stock market's benchmark index closed down 1.2 percent to 6,324 points while Qatar's benchmark was off 1.6 percent. Oman, another Gulf neighbor embroiled in protests, fell almost 1.7 percent.
In Dubai, developer Emaar Properties, the force behind the world's tallest building, was down almost 2.5 percent at 2.74 dirhams, while the Dubai Financial Market's own shares were off 5.56 percent to 1.19 dirhams.
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.
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 François Amyot
HilbroyAdvisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
Important Information About Forward-Looking Statements
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.
About
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.
|