By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are expected to be supported by the financial announcements for the second quarter of 2017, Wadah Al Taha, a member of the National Advisory Board of Chartered Institute for Securities & Investments (CISI), told Mubasher.
There is a positive outlook on the results of some blue-chip companies, Al Taha noted.
The UAE stock markets are expected to continue their sideways performance until the beginning of Q2 financial disclosures, according to Jamal Ajaj, director of Al Sharhan Shares Centre in Abu Dhabi.
The markets’ performance was fluctuating last week due to volatile oil prices, according to Eyad Al Bouriki, general manager of Al Ansari Financial Services.
Some trading sessions saw strong purchases and accumulations of some companies’ stocks, like Arabtec Holding, after wining projects that will affect its financial results, Al Bouriki noted.
The markets were partially backed last week by the news of the appointment of Securities & Investment Company (SICO) as a market maker to own a stake in GFH as treasury shares, the analyst added.
Companies in the insurance, real estate, investment, and services sectors are expected to post encouraging results for Q2, Al Bouriki noted.
Translated by: Julian Nabil
