LSE suspened on Dubai related "glitch"

Market specultion is that because of what’s being discussed on this thread, trading on the London Stock Exchage had to be suspened due to “technical glitches”.

business.timesonline.co.uk/tol/b … 933067.ece

bloomberg.com/apps/news?pid= … 8WkM&pos=5

The markets are viewing Dubai World’s request for a deferral of their debt repayments as a potential Government default by the Emirate. Spreads on governement debt are widening as the markets price in larger risks to lending to smaller States, and banking stocks in particular are under pressure.

Blue Horseshoe

Woah, for a moment there I thought that trading on the LSE had been suspended due to a thread on the 'Pin. :open_mouth:

One of the most immoral places on earth. I hope they do default.

Well the LSE is now open again but thanks to MIFID you could have traded through the outage on Chi-x, Turquiose, BATS or several other MTFs.

How’s the FTSE 100. Anyone panicing?

Dubai HAS defaulted and they have all gone on holidays until the 6th of December after announcing the default ( they say rescheduling but heck :frowning: ) FT Alpha has this article today. Frank Fahey is not what they would call a celebrity either :smiley:

I’m a celebrity , get me out of Dubai

Nor have the finished fitting out the Burj. It has been built and clad .

https://www.burjdubaiskyscraper.com/2009/11/bd2113.jpg

Sort of. European markets down approx 3% now. But the US is off today and volumes are terrible. There are certainly a large number of quoted companies that will suffer if Dubai goes pop (construction; engineering; derdging; plane manufacturers; not to mention the banks) but this is not Iceland. The UAE has rather a lot of oil.

The UAE probably does but not Dubai which only has enough oil for its own purposes although it has a bit of gas too. It is no longer a petrostate unlike Abu Dhabi .

Perhaps I should panic then!

No way! It’s gonna cost a bazillion to fit that momma out!

Jaysus! That’s one big empty cathedral otherwise.

See the “Dubai goes Icelandic” thread:
viewtopic.php?f=11&t=15845
Dubai was bailed out by UAE months ago - and it’s still defaulting!

Damnit :angry: Warm weather and urban paintball. We’re beaten lads. Shut down Leitrim.

Or… dig a big hole and we’ll put all the water there!

Lake Leitrim!

Let Dubai have the paintball - we’ll have Nazi Laser Sharks!

Whats the betting Anglo has a piece of that action?

How d’ya mean run out of oil? Oil is an infinite resource.

Stop spreading false rumours.

Bungaloid will be so annoyed with you…zzzzzzz

EDIT - FT alphaville/commentators hinted that the LSE was suspended as an anti-crash measure :S

Am I the only one that collapses into hysterical laughter at the very name of Dubai ? :unamused:

I travel through Abu Dhabi a fair amount. It’s fairly common for people from Dubai to use it too. The last two times I was through (this month and September), there were a fair number of construction people saying that business was back being good. I wonder what it’ll be like the next time I go down?

Ethihad your airline of choice then?

Yup. You?

Having flown recently on Emirates and Etihad, it’s made me fearful of travelling with any other airline, I expect it’ll be too miserable :frowning: