By Mohammed Farouq

Kuwait-Mubasher: Last week’s bullish performance in GCC markets was due to geopolitical stability in the region and rising oil prices, which boosted investors' sentiment, said capital market expert Ibrahim Al-Failakawi.

GCC markets closed last week with a rise, except for the UAE exchanges, which declined slightly.

The analyst indicated that the markets are witnessing temporary speculative movement due to the summer vacation approaching, a time when the bourses show bearish performance.

To benefit from this period, markets should break their support levels, Al-Failakawi said.

Translated by Abdul Maguid Aboshahla