The third quarter results from quoted companies in the UAE have disappointed investors who have pushed up their share prices in a rally since Ramadan. The problem is that the companies traded on local bourses are mainly in banking, construction and real estate.
If only the oil sector was represented then the Q3 results would look a lot brighter, or if trade, tourism and aviation were available as local stocks. Perhaps one day some of the governments will decide on partial privatization of some of these sectors. This would certainly give the rest of the stock market a lift.
No comments:
Post a Comment