GCC bourses likely to recover on higher oil prices

GCC bourses likely to recover on higher oil prices
Traders at Boursa Kuwait

By: Mahmoud Gamal

Mubasher: The GCC bourses are expected to maintain their gains on Sunday, amid the rise of oil prices and announcement of some positive first-half financials, analysts told Mubasher.

Higher oil prices will push portfolio investors to invest in GCC stocks, thus pushing some of the main indexes to rise on Sunday, market analyst Hassan Al Zawi said.

Most GCC bourses are expected to hold at their current levels this week, according to Mahmoud Abou Zaid, financial analyst at Namaa Consultants.

Quick speculations still control trades in the GCC markets due to unstable conditions in the region, capital market analyst Amir Mansour told Mubasher.

Translated by: Julian Nabil

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Source: Mubasher Exclusive

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