By: Mahmoud Gamal

Dubai - Mubasher: UAE stock exchanges are likely to get some support on Monday from Emaar Properties’ announcement of positive results in the first quarter of 2017, particularly after the negative rebound seen on both markets after the Arabtec dilemma, analysts told Mubasher.

UAE bourses are likely to see some gains after Emaar’s and other companies’ positive disclosures, said analyst Shehab Qerqash, noting that the decline in liquidity seen in the past few sessions is “normal” at the end of the companies’ disclosure period, with investors shifting positions.

On Sunday, Emaar Properties reported a 15% increase in profits to AED 1.384 billion.

Negative speculation regarding Arabtec’s planned capital increase have contributed to market declines, Qerqash told Mubasher.

Arabtec Holding’s capital increase, a part of its financial restructure plan to save the company from bankruptcy, is set to commence on Monday and end on 21 May.

Meanwhile, analyst Amir Al Mansour said he expects UAE stock markets to continue their sideways performance on Monday until companies finish disclosing their results for Q1-17, highlighting that the “market situation” is still satisfactory, as several sectors were able to confront jitteriness and cling to their levels.

Translated by: Nada Adel Sobhi