By: Mahmoud Gamal

Mubasher: The GCC markets are likely to see speculative upward performance on Thursday, coinciding with the recovery of oil and global markets, and in spite of the anticipation status for the European central bank’s meeting over interest rate, analysts told Mubasher.

Following the UK’s vote, the GCC stocks are strongly linked to global markets which are witnessing a positive rebound in the current time, said analyst Ibrahim Al-Filkawy.

The second quarter’s financial statements for some major companies and blue chips have started to affect the markets negatively, said analyst Jamal Ajjaj.

The analyst clarified that some investors took advantage of low prices, and purchased certain shares which are being traded at levels close to their book value with high interest rates.

The decreasing prices may encourage some investment portfolios and funds to enter the market again for building positions, analyst Waddah Al-Taha said.

Translated by: Ingy ElSafy