By: Mahmoud Gamal
Mubasher: The GCC stock exchanges are expected to see upward speculations in Wednesday’s session, as oil prices and global markets are recovering from the shock of the UK’s vote to leave the European Union, analysts told Mubasher.
The rise of oil prices will push the gulf stocks to a sideways rise on Wednesday, said capital market analyst Ibrahim Al-Filkawy.
The GCC shares, especially penny stocks, have reached low prices that attract investors to purchase, despite the worries from external factors, said capital market analyst Ghada Adel.
The analyst noted that Ramadan and summer break usually lower the markets’ activity and hold investors from creating big positions.
Both the gulf and foreign investment portfolios are trying to make good use of the worries controlling the markets, heading to create new purchase positions for some of the GCC stocks, said technical analyst Amir Al-Mansouri.
Translated by: Ingy ElSafy
