By: Mahmoud Gamal

Mubasher: The GCC stock markets will be pushed up by the rise of oil prices and the beginning of first-half financial announcements on Thursday, analysts told Mubasher.

The markets saw calm trades in June, coinciding with the holy month of Ramadan, according to Raed Diab, vice president of the Investment Research Department at KAMCO.

Diplomatic disputes between Qatar and some GCC countries led the Qatar Stock Exchange (QSE) to be the worst performer in June after declining 8.8%, Diab added.

Boursa Kuwait was the best performer which rose 17.7% since the beginning of this year, the analyst noted.

The bourses are expected to continue their fluctuations in July, as traders are anticipating geopolitical developments regarding the ongoing rift between Qatar and some Arab and GCC states, namely Saudi Arabia and its allies, Diab added.

Traders should make quick speculations on stocks which reached attractive price levels, capital market analyst Faisal Al Mu'ali told Mubasher.

Translated by: Julian Nabil