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UAE markets need institutional investments -Analysts

UAE markets need institutional investments -Analysts
Photo Credit: Arabianeye-Reuters

By: Bedour Al Raei

Dubai-Mubasher: UAE markets need long-term institutional investments to enter and make use of the leading companies’ strong financials, analysts told Mubasher.

Dubai Financial Market (DFM) ended Monday’s session with its biggest gains in more than two months, backed by a rise in all leading stocks mainly Emaar that jumped after strong financials were announced.

Abu Dhabi Securities Exchange (ADX) ended Monday’s session slightly up, powered by real estate and energy stocks, amid buoyant trading activity.

The markets managed to trim its previous losses, backed by the positive financials of Emaar Properties, Al-Sharhan Centre General Manager Gamal Agag told Mubasher.

The markets saw a negative performance in the recent period, affected by the decision of Standard & Poor’s Ratings Services on Friday to cut its credit rating on Saudi Arabia due to the decline in oil prices which is driving a wider government deficit, added Agag.

The analyst noted that Internal catalysts such as Q3 financials were not enough to boost the market due to intensive speculations on many stocks.

He went on to say that the unexpected negative Q3 results of some companies led small investors to exit the markets

The markets are likely to see more fluctuations amid the reluctance of leading investors and institutions to strongly enter the market.

Translated by: Julian Nabil