By: Mahmoud Gamal
Mubasher: The GCC stock markets are expected to rise at on Thursday, after the US Federal Reserve decided to keep interest rates steady, analysts told Mubasher.
The Fed's benchmark overnight rate is now between 1% and 1.25%.
Most GCC bourses saw a weak performance on Wednesday, as investors were anxious over second-quarter financial results, analysts added.
Leaving interest rates unchanged and stability of oil prices are expected to push the Gulf exchanges see gains, according to capital market analyst Ahmed Abdel Jalil.
Investors are expected to make purchases in the markets, which saw corrections early this week, Jalil added.
Most GCC bourses are expected to face important resistances after they tried to hold at their current levels, in line with the announcement of H1-17 results and dividends, financial analyst Mahmoud Ziad said.
Stability of oil prices above $50 per barrel will boost investors’ confidence and help the market absorb shocks, Ziad explained.
Translated by: Julian Nabil
