By: Mahmoud Gamal

Mubasher: The GCC stock markets are expected to continue their bearish performance, as investors are looking forward to the trend of oil prices and global stocks following the end of the French presidential elections, analysts told Mubasher.

The markets are moving sideways between their support and resistance levels, in line with volatile oil prices amid anxiety over the possible rise of oil inventories and US crude production ahead of OPEC producers' upcoming meeting over the extension of the oil output cut deal, according to capital market analyst Ahmed Akl.

Current liquidity is “very weak” as investors, especially in the UAE exchanges, are awaiting first-quarter financials, which will control the stocks’ trend in the coming sessions, Akl added.

Investors may focus on the stocks of companies with strong operational performance, Akl noted.

The GCC exchanges will continue their sideways movement in the coming period until the approach of the holy month of Ramadan and summer period, according to market analyst Nawaf Al Shammari.

Translated by: Julian Nabil