By: Mahmoud Gamal

Dubai – Mubasher: The UAE stock markets are expected to see further improvement on Sunday, amid expectations that new liquidity will be pumped, analysts told Mubasher.

The markets were backed last week by the positive news announced by some companies topped by Dana Gas, according to Eyad Al Bouriki, general manager of Al Ansari Financial Services.

Dana said earlier that the Kurdistan Regional Government of Iraq (KRG) paid $1 billion to its  35%-owned subsidiary Pearl Petroleum, as part of a recent settlement agreement.

The UAE bourses are currently moving sideways, with the Dubai Financial Market (DFM) trading between 3,680 and 3,560 points and the Abu Dhabi Securities Exchange (ADX) between 4,588 and 4,355 points, technical analyst Ahmed Al Attar said.

Emaar Properties is moving upward to target AED 10, the analyst noted.

Traders have built new positions in blue chips and will tend to hold them, Al Attar concluded.

Translated by: Julian Nabil