By: Mahmoud Gamal
Mubasher: The GCC investors will be pushed to increase positions on Wednesday, as global and mainly the US stock exchanges continue their rise to reach the highest level over a year, analysts told Mubasher.
The purchase transactions led by foreigners and institutions are projected to continue building up positions in the GCC markets which have reached attractive levels, said capital market analyst Basel Abo-Teima.
The rise in oil prices with an approach of a new level ($47 a barrel) is among the reasons that increased sentiments of the GCC traders, the analyst noted.
The GCC markets are expected to see positive performance on both Wednesday and Thursday, backed by the catalysts policy revealed on Tuesday by the Bank of England, the analyst added.
The current period needs professional traders despite the recovery which is being seen in regional markets, said capital market analyst Nawaf Al-Ajami.
The analyst advised small traders to anticipate and await the confirmation of an upward performance which will be backed by stronger catalysts, namely the announcements of Q2 financials.
Translated by: Ingy ElSafy
