By: Mahmoud Gamal

Mubasher: Most GCC bourses are expected to slightly rise on Wednesday, in line with portfolio investors’ tendency to increase positions in stocks as some companies achieved higher-than-expected results in the first quarter of 2017, analysts told Mubasher.

Most traders, especially foreigners, started to build new positions in some blue chip and mid-cap stocks, amid geopolitical stability following Emmanuel Macron's victory in the French presidential run-off, capital market analyst Ali Al Zahrany said.

Positive outlook for Saudi Arabia’s consumer sector attracted portfolio investors amid the return of all allowances and bonuses for state and the improvement of financial results posted by some of the sector’s companies, Al Zahrany noted.

The Saudi Stock Exchange (Tadawul) is expected to rise on Wednesday and Thursday, according to financial analyst Ali Husein Alenzi.

Some investors are diversifying their portfolios, in line with the approach of first-half financials, to make use of stocks with good operational performances, Alenzi added.

The decline of global stocks, especially in the US, may lead investors to decrease their positions in a number of stocks, financial analyst Dayem Sultan noted.

Translated by: Julian Nabil