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Investors likely to buy GCC stocks ahead of dividends

Investors likely to buy GCC stocks ahead of dividends
Traders at the Abu Dhabi Securities Exchange (ADX) (Photo Credit: Arabianeye-Reuters)

By: Mahmoud Gamal

Mubasher: Most Gulf stock markets are expected to rise as portfolio investors will increase their positions, in line with the volatility of global stock and oil markets, analysts told Mubasher.

Portfolio investors are likely to build up new positions especially in shares of companies which did not approve proposed annual dividends yet, Ahmed Akl told Mubasher.

On the other hand, some investors will start to exit, throughout this week, shares of the firms which approved annual dividends, Akl added.

The GCC markets are generally in a stable phase as oil prices are holding above the level of $50 per barrel, the analyst noted.

The Qatar Stock Exchange (QSE) started to recover and approach 11,000 points, following the news of FTSE's Qatar upgrade to Secondary Emerging Market in March, Akl explained.

Foreign investors are increasing their positions in Gulf stocks, especially in blue chip stocks, in line with the end of the annual financial disclosure period and the beginning of dividend payout, economist Mohammed Al Enzi said.

Translated by: Julian Nabil