By: Mahmoud Gamal

Mubasher: The GCC stock markets are expected to continue their sideways-to-bullish performance on Monday despite lower-than-expected financial results of companies for the first half of 2017, amid the recovery of oil prices, analysts told Mubasher.

Most bourses saw weak trades, reflecting that some investors are shying away from trading, analysts added.

The markets’ stability is dependent on the remaining blue-chip companies’ H1-17 results, financial analyst Mohamed Al Ahbabi added.

Some global stock markets, especially US bourses, will push medium-term traders to increase their investments in low-priced stocks, especially listed on promising markets like the UAE, technical analyst Hareb Omar noted.

Traders should not increase positions in Gulf stocks until all heavyweight companies announce their H2-17 financials, capital market analyst Hamoud Al Shammari said.

Translated by: Julian Nabil