By: Mahmoud Gamal

Mubasher: Most GCC stock markets are expected to resume their bullish performance in June, amid positive expectations for first-half financial results, analysts told Mubasher.

Most GCC bourses, topped by the Qatar Stock Exchange (QSE), declined in June after Saudi Arabia, Egypt, Bahrain and the UAE cut off all ties with Qatar, whereas the Saudi Stock Exchange (Tadawul) rose on the back of the country's addition to the MSCI Emerging Market (EM) Index Watch List.

The Emirati, Kuwaiti, and Saudi bourses are expected to see active trades during the first half of July, spurred by heavyweight companies’ H1 financials, capital market analyst Ahmed Al Zeiny said.

Tadawul will be affected by oil prices which declined by 14% during the first six months of 2017, the analyst noted.

The GCC bourses absorbed the dispute between Qatar and the Gulf and Arab countries, Al Zeiny said.

Boursa Kuwait is passing through a stable phase, and portfolio investors will tend to trade on stocks with good operational performance, capital market analyst Hamoud Al Shammari said.

Translated by: Julian Nabil