By: Mahmoud Gamal
Dubai – Mubasher: Anticipations are likely to dominate the UAE stock markets on Thursday amid the continuous disclosures of companies to the Abraaj Group’s recent crisis, analysts told Mubasher.
Investors in local bourses also await for more listed-firms to announce their financial results for the first half of 2018, analysts added.
By the end of Wednesday’s trading session, the Dubai Financial Market’s (DFM) general index slipped 0.11% to 2,892.43 points, while the Abu Dhabi Securities Exchange’s (ADX) general index edged up 0.50% to 4,691.80 points.
The current thin liquidity in the UAE’s twin bourses, which has been constantly tightening since the beginning of this year, lacks main strong catalysts, senior sales trader at Mubasher Financial Services (MFS) Mohab Maher said.
The stock markets need new robust catalysts, topped by H1-18 and Q2-18 financial results, to positively impact trading activities over the coming period, Maher noted.
For his part, managing director of asset management at MENACORP Tariq Qaqish said that investors’ concerns over the UAE markets will be eliminated if the remaining listed-firms uncovered their exposure to the Abraaj Group.
Qaqish indicated that delayed disclosures affirm firms’ ties to the ailing private equity firm, hoping that major firms, including Emirates NBD, Mashreq, and Commercial Bank of Dubai, would reveal their exposure to the crisis.
Translated by: Mai Ezz El-Din
