By: Mahmoud Gamal
Mubasher: Anticipation is expected to control the GCC stock markets on Monday as oil prices are back to fall once again, analysts told Mubasher.
The oil prices are projected to fall between $43 and $40 per barrel this week which may lead to a negative performance in the regional stock exchanges, said capital market analyst Mohamed Al-Mesbah.
Liquidity is still weak in the GCC markets, reflecting the investors’ anticipation amid the current conditions, the analyst added.
The internal catalyst which is anticipated by traders in the GCC markets is the Q2 financials; however, the slowdown in announcing the H1 financials may lead to further weak liquidity that will negatively affect the markets’ indices, said capital market analyst Bassel Abo-Teima.
Rapid speculations are still the main controller of the GCC markets, awaiting indicators that can confirm the upward trend. This relies on both the internal and external catalysts, said capital market analyst Hamoud Al-Shimry.
Translated by: Ingy ElSafy
