Mubasher: GCC equity markets are forecast to move upwardly in the mid-week trading session, stimulated by the strong recovery of oil prices yesterday, analysts told Mubasher.
As oil prices steadied above $53 per barrel yesterday, which is the highest quote since October 2015, regional markets are likely to achieve gains during the coming sessions this week, said market analysts Mohand Al-Oqayli and Abdullah Al-Otaibi.
This foreseen bullish trend will be backed by the third quarter's positive financial disclosures for the first nine months that will likely increase investors' appetite for attractive stocks and will thus improve liquidity levels, the analysts added.
On Monday, US Brent crude rose 2.3%, or $1.21, to hit $53.73 per barrel.
