By: Mahmoud Gamal

Mubasher: The GCC stock markets are expected to see a sideways-to-bullish performance on Tuesday, after Qatar’s foreign minister said that dialogue is his country’s “strategic choice to resolve crisis”, analysts told Mubasher.

Foreign funds are exiting Qatar-listed stocks, pushing the bourse to decline 8% since the severing of diplomatic ties between Qatar and their neighboring Gulf countries, analysts added.

Qatar’s bourses started to recover on Monday, backed by a decline of Gulf funds’ sales after Qatar's foreign minister Sheikh Mohammed bin Abdulrahman al-Thani announced an intention to end the rift soon, capital market analyst Hassan Al Zawi said.

Some Gulf and foreign funds withdrew their liquidity from Qatar’s bourse following the rift and invested in UAE and Saudi stocks, Al Zawi added.

UAE stocks especially blue chips attracted a lot of funds’ investments as they stand at attractive price levels, Al Zawi noted.

Some Saudi stocks started to see positive trades amid the recovery of Brent crude oil prices, making up for the losses witnessed last week, capital market analyst Mohamed Al Azmi said.

Translated by: Julian Nabil