By: Mahmoud Gamal
Dubai – Mubasher: The purchases are expected to grow in the UAE stocks markets during Tuesday's and the rest of the week's trading sessions in line with the companies' announcement of financial results, analysts told Mubasher.
On Monday, the Dubai Financial Market (DFM) remained unchanged at 3,657.48 points, whereas the Abu Dhabi Securities Exchange (ADX) inched up 0.11% to reach 4,523.51 points.
Investors are focusing on the stocks of the UAE currently, amid positive expectations of the listed firms, especially the leading ones, managing director, and asset management in Menacorp Tairq Qaqish said.
The currents growths in Brent Crude Oil prices that reached it above $57 per barrel (pb) supports the rise of domestic stocks in the rest of week’s trading sessions, Qaqish added.
Commenting on Emaar Properties postponing of its shareholders meeting, Qaqish stated that this did not impact negatively on the DFM.
The expected initial public offering (IPO) of Emaar Investments and Real Estate Development will attract foreign liquidity to the DFM, in line with awaiting to implement it since two years.
The positive forecasts of the companies’ financial results of in the third quarter of 2017 enhanced trading in the UAE bourses, Eyad Al Bariqi, director general of Al Ansari Financial Services, told Mubasher.
Large liquidity which was pumped in the UAE stock markets since the beginning of trading from early October, Al Bariqi added.
The increase in oil prices will boost the UAE bourses to rising trend during the coming sessions, director general of Al Ansari Financial Services stated, concluding that investors are currently aim to trade on stocks that reached attractive levels.
Translated by: Mohamed Hesham Azab
