By: Mahmoud Gamal
Mubasher: GCC stock markets are foreseen to continue their volatile upward trend on Wednesday, affected by Federal Reserve Chair Janet Yellen’s speech in line with global risks of a potential Brexit and a US hiring slowdown which warrant a cautious approach to raising interest rates.
Most of the GCC stock exchanges are expected to rise on Wednesday, especially the Saudi market (Tadawul) which still targets 7,000 points, said capital market analyst Mohamad Al-Shimiry.
He clarified that regional markets have given a positive indicator to speculators on Wednesday.
Approaching the announcement of Q2 financial statements, most of the investment funds and portfolios have started to improve their mid-year closures, said capital market analyst Mahmoud Abo Zaid.
Translated by: Ingy ElSafy
