By: Mahmoud Gamal

Dubai – Mubasher: Investors in the UAE bourses are anticipating further quarterly financial results on Thursday as some firms announced restructuring and capital cut plans, mainly the banks, analysts told Mubasher.

The Dubai Financial Market (DFM) closed Wednesday’ trading session down 0.26% to 3,026.32 points, while the Abu Dhabi Securities Market (ADX) slipped 0.39% to 4,671.03 points.

The UAE stock markets are seeing a continuous downward trend since the beginning of 2018 amid thin liquidity due to the absence of main market-boosting catalysts that could make traders re-invest in stocks, senior financial analyst at Menacorp Financial Services Issam Kassabieh said.

Some companies, particularly Gulf General Investment Co and Marka, have announced plans for restructuring and capital reduction amid achieving accumulated losses and disregarding shareholders’ rights, which made investors concerned and cautious, he indicated.   

The ADX is somehow different from the DFM as many investors are trading on stocks with significant operational performance over the past period, such as First Abu Dhabi Bank, Dana Gas, and TAQA, Kassabieh noted.

Aldar Properties is forecast to perform well in the long term following the recently announced partnership with Emaar Properties, he remarked.

Translated by: Mai Ezz El-Din