By: Aseel bin Taleb
Riyadh – Mubasher: It is unlikely that recent political events, particularly the coup attempt in Turkey, will affect the Saudi Stock Exchange (Tadawul), analysts have said, while others expected a marginal impact.
Companies’ financials will have the most impact on the Saudi market in the coming period, the analsyts told Mubasher.
The failed Turkish coup attempt is likely to have a limited impact on Tadawul, commented Ali El-Zahrany, asset manager Musharaka Capital.
He told Mubasher that he does not expect strong speculation on some of the market’s shares.
Meanwhile, financial and technical analyst Mohamed El-Maymouny noted that Tadawul will be most affected by companies’ financial disclosures and not by external factors.
Some Saudi companies have investments in Turkey, which would have been affected by the coup had it been successful, but since it failed, it is likely that these investments will remain solid, the analyst told Mubasher in a comment.
On another note, Abdullah Al-Maqdad noted that the decline in the Turkish currency, the lira, will make several Saudi investors rethink their investments there until political turmoil ends.
Translated by: Nada Adel Sobhi
