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GCC stocks likely see sales amid political risks

GCC stocks likely see sales amid political risks
Traders at Boursa Kuwait (Photo Credit: Arabianeye-Reuters)

By: Mahmoud Gamal

Mubasher: The GCC stock markets are expected to see wide sales of blue chips by institutional investors, amid increased tensions over Syria, analysts told Mubasher.

Most Gulf bourses are expected to continue their sideways-to-bearish performance on Wednesday.

Geopolitical developments in Syria are expected to weigh on the markets' performance, capital market analyst Ines Mguidich stated.

Investors should be cautious in the coming period, in line with the announcement of first-quarter financials, Mguidich added.

Blue chips, especially in the petrochemical sector, are expected to see trading by some portfolio investors, in line with the recovery of oil prices and the approach of quarterly financial announcements, capital market analyst Ahmed Akl said.

Translated by: Julian Nabil