MARKET TALK: Gulf stock markets end mixed; MSCI focus remains

Monday, Jun 10, 2013

1028 GMT [Zawya Dow Jones]--Persian Gulf stock markets end mixed on Monday amid mostly light local news flow. Several markets have rallied this year, but are expected to be a tad volatile during the summer months as investors book some gains. "This month appears to be a critical time for the region, regardless of the global dynamics being played out in Europe and elsewhere. An upgrade by MSCI would underscore the readiness of the region for the next phase of growth," says one analyst at BNY Mellon. The UAE and Qatar are in contention for a possible MSCI upgrade this week to emerging market status. Dubai shares finish 2.3% lower at 2344.76; the market is still up some 45% for the year. Abu Dhabi's market falls 1% to 3556.40; while Kuwait's benchmark index edges up 0.3% to 7927.92 and Doha ends +0.4% at 9372.87. Saudi shares trade -0.1% at 7638.73. (nikhil.lohade@dowjones.com; Twitter: @ZDJnews)

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10-06-13 1049GMT