Major Gulf markets subdued in early trade

About this update from Dar Al Arkan Real Estate Development Co.

Major stock markets in the Gulf were subdued on Wednesday, largely influenced by softer global oil prices.Oil prices - a catalyst for the Gulf's financial markets - dipped but held onto most of their gains from the previous session amid expectations that an end to the longest U.S. government shutdown could boost demand in the world's biggest crude-consuming nation. Brent crude futures ICEEUR:BRN1! slipped 22 cents, or 0.34%, to $64.94 a barrel by 0625 GMT.Saudi Arabia's benchmark index TADAWUL:TASI edged 0.1% higher, helped by a 0.3% rise in the country's biggest lender by assets, Saudi National Bank TADAWUL:1180, while Dar Al Arkan Real Estate Development TADAWUL:4300 advanced 2.1%.The developer is set for a third consecutive session gain following a steep rise in quarterly earnings.Meanwhile, oil behemoth Saudi Aramco TADAWUL:2222 lost 0.3%.Dubai's main share index DFM:DFMGI eased 0.2%, hit by a 1.3% fall in top lender Emirates NBD DFM:EMIRATESNBD.In Abu Dhabi, the index ADX:FADGI fell 0.1%.The Qatari index QSE:GNRI was down 0.2%, with Qatar Islamic Bank QSE:QIBK losing 0.6%.

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