This morning shares appear to be down this morning over confusion of the Abu Dhabi bailout.

Five days ago, the Gulf state of Dubai initiated a panic around the world.  It was news that the state owned company Dubai World wanted a 6 month break from its debt repayments.  This raised the spectre of a meltdown in the luxury land of the rich, possibly leading to a panic that derailed the global econmic recovery.

Trading has been suspended since last week for the Eid al-Adha holiday.

A good sign that the world markets are feeling more optimistic is that the US dollar has lost ground against many other currencies, which has helped push the oil price up.  Despite the state of the US economy, investors still seek the safety of the greenback at times of crisis.

The Japanese prime minister Yukio Hatoyama has been talking about the situation also.  He has been talking to reporters in Tokyo that he “remains cautious over Dubai credit worries”.

Royal Bank of Scotland shares are down over 4% this morning at 33p, this has helped push the FTSE 100 down by 40 points to 5204.  It was annouced on Friday that RBS has organised more loans to Dubai World than any other bank.  Its still not clear how much of that debt remains on RBS’s books.  This will no doubt cause a worry for RBS investors this morning as has been relfected in their share price.

Share holders today dumped their shares after hearing Sainsburys are to call for more shares to be brought to market which will dilute the current value of their current share price, which caused a panic of share dumping.  Their share price went down 7% today sit 23½p to 308¼p.

Sainsbury will gain £445m for bringing out more shares in the hope to get more cash.  Analysts say the stocks value will go down around 3%.  Many investors are worried that Qatari shareholders will start to offload their stake causing a tidal wave effect.

Rival Morrisons fell 1p to 243¾p while market leader Tesco fell 7.6p to 354p.  Not a good day for food chains.

Workspace Group (WKP) which lease office space to small to medium sized businesses (SME) released full year results this morning causing a 1.7% increase in the share price this morning despite a fall in the FTSE driven down by miners.  Current FTSE price is 4389.32 down -49.82.

Workspace reported a pretax loss of £360.4 million for the year ended March 2009, compared with a loss of £37 million a year earlier.

Panmure Gordon rate this company stock as a “BUY”

Panmure describes Workspace’s results as “encouraging”, saying they met its forecasts, and that it is maintaining its 2010 forecasts for the group.  This is promising for a commercial property company during this time, which will give hope for investors.

Workspace are also paying a 0.50p dividend to share holders making this an attractive stock to hold and will make current share holders happy.

The broker says despite the challenging nature of property markets in recent times, the company continues to see resilience in both demand and the cash rent-roll.

“Furthermore, with the business significantly de-risked following the rights issue, debt-restructuring and ongoing disposal programme, we see good potential upside for the business when the London property market turns,” says Panmure

Current Share Price – 14.86p

Broker Rating – “BUY”

NAV – 27P

Final dividend of 0.50p per share proposed