DUBAI Jan 2 Gulf stock markets may have a
slightly firm tone on Monday as most reopen after New Year
holidays, although there is very little direction from global
markets or fresh corporate news within the region.
Some foreign investors may remain absent as they haven't yet
returned from the holidays. But many investors expect a stronger
2017 because of higher oil prices and governments' partial
success in cutting their budget deficits.
A Reuters poll of 13 leading Middle Eastern fund managers,
published on Thursday, found 62 percent expect to raise their
allocations to regional equities in the next three months and
none to reduce them - the most bullish view of equities since
February 2014, before oil prices began to plunge.
A 0.4 percent gain by Saudi Arabia's index on Sunday
may be taken as a modestly positive signal for the region in the
(Reporting by Andrew Torchia)