By: Mahmoud Gamal
Kuwait – Mubasher: The indices of Boursa Kuwait are expected to regain its gains during the first week of 2017 as the period of announcing the financial statements is getting closer, analysts told Mubasher.
The general trend of the market is expected to rise despite the profit-taking activity which is being witnessed in some portfolios, GCC capital market analyst A’ed Al-Dhufairy said.
Companies listed on Boursa Kuwait are expected to see lower profits when compared to the fiscal year 2015, capital market analyst Abdullah Al-Zamel noted.
The exit transactions of listed banks involved in Americana’s deal may decrease the provisions previously registered in the past years, Al=Zamel added.
The real estate companies are projected to suffer unrealized losses as real estate portfolios have declined in value in the local market, the analyst said, clarifying that this decrease will result from recent reports as well as the falling value of both Egypt and Turkey’s currencies.
Al-Zamel said that the recent decision made by the Communication and Information Technology Regulatory Authority to decrease ADSL subscription prices will negatively affect the companies’ financial statements.
Boursa Kuwait’s investment segment has been suffering lower operating environment as well as decreasing liquidity during 2016, the analyst said.
Translated by: Ingy ElSafy
