By: Mahmoud Gamal
Dubai – Mubasher: Analysts expressed different opinions on the performance of the UAE bourses on Monday, anticipating more financial results’ announcements.
Markets have been affected by the Saudi Royal anti-corruption decisions as it included chairmen of GCC-listed firms, CEO of Minecraft Consulting Fady Al-Ghattis told Mubasher.
Al-Ghattis forecasted markets to resume rising in the green zone since firms listed in the UAE bourses are not directly related to the Saudi Stock Exchange (Tadawul).
The UAE markets are mainly dominated by the announcements of firms’ financial results, he stressed.
Iyad Aref the CEO of Namaa Zone said that the Dubai Financial Market (DFM) closed in the red zone on Sunday as investors were worried about the geopolitical situation the Gulf region witnesses.
The volatile performance is expected to continue this week and the Dubai Financial Market General Index (DFMGI) may settle above 3,534 points, Aref added.
The UAE bourses are likely to see a bullish wave on Monday after the Tadawul saw a positive rebound at the end of Sunday’s session, market analyst Manaf Almallouhi told Mubasher.
On weekly basis, the DFMGI hover around the level of 3,560 and 3,680 points, Almallouhi noted.
Translated by: Mai Ezz El-Din