By: Mahmoud Gamal
Mubasher: Analysts have advised investors at the UAE markets create new purchasing positions this week as oil prices and global stock markets continue to recover, analysts told Mubasher.
Al-Sharhan Centre General Manager, Gamal Agag, expected an upward movement in the UAE bourses as the profits and dividends season approaches.
“Last week’s trading activity was notably good, backed by a rise in insurance stocks, especially in the Dubai bourse in light of Dubai's mandatory health insurance scheme,” Agag said.
Technical analyst, Mohamed Al Azmy, expected the upward trend to continue in the UAE stock markets until 20 January, when the newly elected US President, Donald Trump, takes office.
Al Azmy expected foreign investments in the UAE stocks to rise this months with the approach of the annual financial statements.
Translated by: Elwy el-Manzalawy
