By: Mahmoud Gamal

Mubasher: The GCC stock markets are expected to see cautious trades this week, amid the escalation of a diplomatic dispute among some Gulf countries, analysts told Mubasher.

The diplomatic rift between Qatar and some Arab countries, especially Saudi Arabia and the UAE, took its toll on the GCC bourses, capital market analyst Ines Mguidich told Mubasher.

Dubai and Saudi Arabia’s bourses witnessed prudent trades in the past sessions, whereas the Qatari bourse saw the biggest losses, the analyst added.

The markets are expected to maintain their negativity unless new positive developments happen in Qatar’s diplomatic issue or oil prices rise, Mguidich said.

Continuous GCC dispute may result in the withdrawal of Gulf and foreign banks’ investments from Qatar, capital market analyst Abdullah Al Ali explained.

Translated by: Julian Nabil