Gulf markets end mixed

RIYADH, KSA, Apr 5 (Arabian business.com): Gulf markets were mixed in early trade, while Emirates NBD helped push up Dubai's benchmark. Dubai's top lender rose 4.2 per cent. The bank's chief executive said in March it is looking for merger opportunities in the region. "Markets will probably move sideways generally in Dubai and Abu Dhabi," said Mohammed Yasin, CAPM Investment's chief investment officer. Dubai's index added 0.2 per cent to 1,553 points. Abu Dhabi's index slipped 0.3 per cent to 2,593 points as heavyweight First Gulf Bank fell 1.8 per cent. "Consolidation is not a bad thing. We are in anticipation of Q1 results that could be a positive catalyst," Yasin said. Bluechip stocks will retain attention of smaller investors while institutional and high-net worth investors sit on the sidelines, he added. Oman's index gained 0.4 per cent to 6,292 points, helped by Bank Muscat. The lender rose one per cent in third day of gains. Kuwait's benchmark was flat, slipping 0.03 per cent to 6,299 points. Saudi Arabia's benchmark was flat after an early session drag from Saudi Electric after the company paid dividend.