By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are suffering from the absence of incentives and weak liquidity, which pushed its stocks to a mixed performance recently, in line with the anticipation of global bourses’ performances, oil prices, and the unstable political situation in the US, analysts told Mubasher.
Al-Sharhan Centre general manager Gamal Agag said that the markets saw notable fluctuations in the price levels during the previous trading session, affected by some of the negative results of some firms, topped by Union Properties (UP) and Drake and Scull International (DSI).
Agag noted that the markets’ indices are moving horizontally, as most stocks are seeing a slow sideways performance, in anticipation of new incentives.
He noted that investors are not tending to pump new investments because of the summer holidays, which lowered liquidity below the level of AED 250 million in the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX).
The mixed performance is expected to continue until the Eid Al Adha holiday and the firms' upcoming announcements of third-quarter financials, he concluded.
Translated by: Mai Ezz El-Din
