By: Thabet Shehata
Dubai-Mubasher: The oil price rise will positively affect the GGC stock markets, especially the UAE equities on Thursday, analysts told Mubasher.
The Gulf markets were significantly influenced by external factors in the recent period, especially the oil prices, said Ehab Rashad, CEO of Mubasher International.
Rashad added that the UAE markets are likely to witness some movements to rearrange portfolios through changing positions in the coming period, amid higher oil prices and expectations of positive financial announcement by major companies.
Technical analyst Muhannad Erekat said that it is difficult to predict the future performance of the GCC markets as external factors control their trend.
He added that the rise of Gulf markets in some sessions is not a sign for investors to make long-term purchases.
Translated by: Julian Nabil
