By: Mahmoud Gamal

Mubasher: The GCC stock markets are expected to see further gains on Sunday, in line with the announcement of first-quarter financials and investors’ trades on stock with strong operational results, analysts told Mubasher.

Second-quarter results reflected the strong operational performance of some companies, pushing traders to exchange positions and invest in these stocks, capital market analyst Mohamed Al Azmi said.

Liquidity is very weak due to calm trades during the summer vacations, Al Azmi noted.

The Saudi Stock Exchange (Tadawul) started to recover following positive news about some listed companies, such as Etihad Atheeb Telecommunication (Go) which turned profitable after generating SAR 55.4 million in the second quarter of 2017, according to capital market analyst Nawaf Al Shammari.

The markets will maintain their normal sideways performance in the coming period, Al Shammari noted.

The UAE stock markets were affected by Q2 results of some companies which were contrary to expectations, with the exception of Emaar Properties which posted positive results for the same quarter, the analyst stated.

Translated by: Julian Nabil