By: Mahmoud Gamal

Mubasher: Investors in the Gulf stock markets are anxious over the trend of oil prices, although the Saudi Stock Exchange (Tadawul) restored its active trading amid the Kingdom restored financial allowances.

Most markets saw a volatile trend on Sunday, affected by the mixed performance of global stocks in line with the beginning of the first round of the French presidential elections in Paris on 23 April.

Gulf markets’ sideways-to-bearish performance witnessed last week was mainly attributed to the first-quarter financials posted by some companies, capital market analyst Ines Mguidich told Mubasher.

The markets are expected to see further fluctuations on Monday amid the “steep” decline of oil prices and anticipation of more financial results for Q1-16 especially in the Saudi bourse, Mguidich added.

The Dubai Financial Market (DFM) is expected to recover on the back of the positive news released by Arabtec Holding and Emaar Properties by the end of last week.

King Salman’s decision to reinstate financial allowances for some employees will be beneficial to the retail and food sectors, and increase confidence in the Saudi economy, thus positively affecting Tadawul, market analyst Hassan Al-Zawi told Mubasher.

Translated by: Julian Nabil