MARKET TALK: Gulf Mkts End Mixed In Cautious Trade; Oil In Focus

Wednesday, Jun 13, 2012

1040 GMT [Zawya Dow Jones]--Arab Gulf stock markets end mixed; overall sentiment remains cautious as euro-zone concerns persist ahead of crucial Greek elections. Regional focus centers on crude oil prices ahead of an OPEC meeting Thursday, where the cartel is widely expected to maintain the current production ceiling. "We believe oil prices should still be relatively well supported even in a sluggish economy--although US oil supply is growing, tight supplies elsewhere provide support," says Credit Suisse in a note. Nymex July crude futures last up 3 cents at $83.35/bbl. Dubai DFM ends +0.6% at 1477.86. Abu Dhabi shares close flat at 2448.22. Kuwait ends -1.7% at 5915.96, while Qatar's QE Index closes -0.2% at 8261.09. Saudi shares are trading +0.4% at 6754.45.

(brinda.darasha@dowjones.com; Twitter: @ZDJnews)

(END) Dow Jones Newswires

13-06-12 1045GMT