By Ateeq Shariff
Most stock markets in the Gulf were subdued on Monday on soft oil prices and disappointing corporate earnings.
Saudi Arabia's benchmark index TADAWUL:TASI reversed early losses to close flat, with Al Rajhi Bank TADAWUL:1120 dropping 1.2%, while Dar Alarkan Real Estate Development Co TADAWUL:4300 jumped more than 5%, following a sharp rise in quarterly profit.
Elsewhere, Al Khaleej Training and Education Co TADAWUL:4290 plunged 10%, to be the biggest faller on the index, following a decrease in third-quarter profit.
Among other losers, budget carrier flynas TADAWUL:4264 tumbled 5.4%, after the firm posted losses for the nine-month period ending September 30, from profit a year earlier.
Crude prices - a catalyst for the Gulf's financial markets - were steady as investors assessed a potential end to the U.S. government shutdown and concerns around oversupply in the crude market.
Brent crude futures ICEEUR:BRN1! rose 11 cents, or 0.17%, to $63.74 a barrel by 1051 GMT.
Oil prices remain a risk for the broader market given current price levels and the bearish outlook, said Daniel Takieddine, co-founder and CEO of Sky Links Capital Group.
Dubai's main share index DFM:DFMGI dropped 0.3%, with top lender Emirates NBD DFM:EMIRATESNBD losing 2.2% and blue-chip developer Emaar Properties DFM:EMAAR retreating 1.5%.
In Abu Dhabi, the index ADX:FADGI was down 0.1%, pressured by a 3.6% decline in Aldar Properties ADX:ALDAR.
However, Fertiglobe ADX:FERTIGLB - the largest producer of nitrogen fertilisers in the Middle East and North Africa - advanced 2.1%, after the firm turned to quarterly profit.
The Qatari index QSE:GNRI added 0.4%, helped by a 0.8% increase in petrochemical maker Industries Qatar QSE:IQCD.
Outside the Gulf, Egypt's blue-chip index EGX:EGX30 declined 1%, retreating from a record high, dragged down by a 6% slide in tobacco monopoly Eastern Company EGX:EAST.
Saudi Arabia
TADAWUL:TASI finished flat at 11,244
Abu Dhabi
ADX:FADGI dropped 0.5% to 10,020
Dubai
DFM:DFMGI eased 0.3% to 6,008
Qatar
QSE:GNRI gained 0.4% to 11,090
Egypt
EGX:EGX30 declined 1% to 40,416
Bahrain
BAHRAIN:BHBX added 0.1% to 2,077
Oman
(.MSX30) advanced 1.6% to 5,663
Kuwait
(.BKP) lost 0.2% to 9,434