By: Mahmoud Gamal
Mubasher: The Gulf markets are expected to maintain their volatile performance on Monday, amid anxiety over the trend of oil and global stock markets before US elections, according to capital market analyst Adnan Al-Muzaini.
The oil prices are negatively affected by the different opinions on whether to curb oil production or fix its limit, the analyst told Mubasher.
The GCC bourses are currently witnessing pure speculations that aim to improve the position of losing portfolios, Al-Muzaini said, adding that the markets did not see new liquidity two months ago.
Most Gulf exchanges closed lower on Sunday except for Saudi bourse which rose on the back of the Kingdom’s successful international bond issuance, he noted.
The markets will continue their volatility till the end of third-quarter financials and the announcement of the new US president, Ibrahim Al-Failakawi, technical analysis lecturer at the Advanced Studies & Training Centre, said in a statement to Mubasher.
Translated by: Julian Nabil
