By: Mahmoud Gamal
Mubasher: The Gulf stock markets are expected to see build-up of positions, fueled by the recovery of global bourses which reached record levels, analysts told Mubasher.
Investor’s appetite for risk assets, namely global stocks, will encourage foreign traders to increase their positions in operational stocks especially that the end of first-half financials approaches, capital market analyst Thamer Al Dhafiri noted.
Recovery in the oil prices to acceptable levels, as well as the rise of gulf stocks, will push the Gulf equities higher on Wednesday, the analyst explained.
On another note, analyst Hamoud Al-Azmi said that the GCC markets are witnessing recovery, yet their trend will not be confirmed until the period of first-half financials ends.
Translated by: Julian Nabil
