By: Mahmoud Gamal
Mubasher: The fluctuating trend in most of the GCC stock markets is expected to continue on Monday, in line with the growing worries over UK’s vote on its eurozone membership, despite rising oil prices, analysts told Mubasher.
The general trend of the GCC markets is still negative, despite the speculative upward trend for some bourses in Sunday’s trading session; Abu Dhabi Securities Exchange (ADX) \was impacted by the merger of National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB), while Kuwait Stock Exchange (KSE) closed in green after UAE’s Adeptio confirmed the acquisition of Americana, said capital market analyst Nawaf Al-Otaibi.
Most portfolio directors returned to the selective purchasing trend as H1 financial announcements approach, said technical analyst Hammoud Al-Shimiry.
He added that he current low liquidity of the GCC stocks does not encourage small investors to increase positions.
Translated by: Ingy ElSafy
