The regional stock markets are likely to be range-bound in the week ahead as the benefit of higher international oil prices, the mainstay of the region's exports, continues to be offset by the prevailing political uncertainty in the region, say experts.
They say continuing unrest in Libya, Syria, Yemen, Egypt and Algeria is forcing foreign institutional investors to stay away from some of the regional stocks, which otherwise look lucrative due to their attractive valuations.
"Oil prices have moved higher, but the political risks in the region are still prevalent. In the week ahead I expect no major moves. I expect more activity in individual companies in anticipation of first-quarter financial results," Anastasios Dalgiannakis, head of trading at Dubai-based Mubasher Financial Services, told Gulf News by telephone.
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