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UAE markets to see profit-taking -Analysts

UAE markets to see profit-taking -Analysts
Photo Credit: Arabianeye-Reuters

By: Mahmoud Gamal

Dubai-Mubasher: The UAE markets are expected to witness profit-taking as the week starts, amid major geopolitical developments in the region, after Saudi Arabia revealed plans to lead an international alliance on Syrian ground to fight ISIS, while on another front falls in oil prices are continuing, analysts told Mubasher.

The performance of UAE markets, especially Dubai bourse, is affected by fluctuations of oil prices and global markets, which left the scene for speculators who laid siege to the markets, according to Al Awael Holding Chairman Talal Al-Khoury.

Current political unrest in the region also pushes the stocks markets to be volatile, said Tariq Qaqish, deputy head of asset management at Al Mal Capital in Dubai.

Qaqish added that prices of some stocks, especially in the banks sectors, declined to attractive levels.

He noted that the recent recovery in liquidity is not a sign that investors are back, but rather speculators are in control. 

Translated by: Julian Nabil