By Nadia Saleem

DUBAI, June 19 (Reuters) - Dubai's Arabtec ARTC.DU jumped to a near four-month high on Wednesday as recent contract wins boosted sentiment ahead of the builder's earnings, while Gulf Arab markets were mixed in muted trade.

Shares in Arabtec jumped 5.1 percent to their highest close since Feb. 28. The builder has secured a flurry of contracts under its new management, led by Abu Dhabi state fund Aabar Investments.

The latest is worth 4 billion dirhams ($1.09 billion) to build a mixed-use development project by Abu Dhabi's Aldar Properties ALDR.DU in Kazakhstan. ID:nL5N0ET0BE

"Arabtec's legacy business is doing quite well and the backlog has doubled in the last year and a half," said Loic Pelichet, assistant vice-president for research at NBK Capital. "On standalone basis, it just about justifies the current share price."

The new awards, along with better sentiment for the UAE's property sector are adding to upbeat sentiment on Arabtec, he added.

The stock is recovering from sharp declines in late February after the company announced massive capital raising plans that could be dilutive to shareholders. ID:nL6N0BR6QK

Dubai's measure .DFMGI rose 0.6 percent, extending 2013 gains to 47.5 percent.

Abu Dhabi's benchmark .ADI gained 0.2 percent to its highest close since October 2008.

Elsewhere, Cairo's main benchmark .EGX30 slipped 0.5 percent, its second decline in five sessions days since June 12's one-year low.

Local investors have sold shares ahead of the first anniversary of President Mohamed Mursi taking office on June 30, which his opponents plan to mark by demonstrations.

Most stocks retreated - Commercial International Bank

COMI.CA and Orascom Telecom ORTE.CA dipped 1.1 and 1.5 percent respectively.

"There is a lack of appetite - buyers are waiting for a trigger to enter the market," said Mohamed Radwan, director of international sales at Pharos Securities.

Foreign investors were net buyers, which sometimes happens when political tensions rise in Egypt. Foreigners prioritise long-term equity valuations over day-to-day political concerns, Radwan said.

Shares in heavyweight Orascom Construction Industries

OCIC.CA bucked the downbeat trend, rising 1.7 percent after an extraordinary meeting of shareholders.

The company said it would discuss a takeover offer by Dutch-listed subsidiary OCI NV OCI.AS and a tax settlement with the government.

In Qatar, the index .QSI declined 0.2 percent, its fourth decline in five sessions since last-week's 57-month high.

Gulf International Services GISS.QA faced the brunt of profit-taking, falling 3.7 percent to trim 2013 gains to 44.5 percent.

WEDNESDAY'S HIGHLIGHTS

DUBAI

* The index .DFMGI climbed 0.6 percent to 2,393 points.

ABU DHABI

* The index .ADI gained 0.2 percent to 3,665 points.

EGYPT

* The index .EGX30 slipped 0.5 percent to 4,684 points.

KUWAIT

* The index .KWSE eased 0.01 percent to 8,075 points.

QATAR

* The index .QSI declined 0.2 percent to 9,340 points.

SAUDI ARABIA

* The index .TASI ended flat at 7,526 points.

OMAN

* The index .MSI declined 0.4 percent to 6,469 points.

BAHRAIN

* The index .BAX retreated 0.2 percent to 1,202 points.

(Editing by Matt Smith)

((nadia.saleem@thomsonreuters.com)(+97143664256)(Reuters Messaging: nadia.saleem.thomsonreuteres@reuters.net))

Keywords: MIDEAST MARKETS/WRAP