DUBAI Jan 8 Gulf stock markets may consolidate
with a firm tone on Sunday although Dubai faces technical
resistance that could hold in the near term at least.
The international market environment is modestly positive,
with Wall Street firm and oil prices having edged up at the end
of last week.
Dubai's index rose 2.7 percent to 3,628 points last
week but faces resistance at the mid-December peak of 3,659
points, and pulled back from near that level on Thursday.
In Qatar, Gulf Warehousing may attract modest
interest after recommending an annual cash dividend of 1.60
riyals per share, up slightly from 1.50 riyals in the previous
year. It said net profit climbed 11 percent last year.
In Saudi Arabia, builder Abdullah Abdul Mohsin al-Khodari
and Sons could rise after saying it secured a 69
million riyal ($18.4 million) contract with the Ministry of
Environment, Water and Agriculture.
The amount is small but Khodari, like other Saudi
construction companies, suffered from a severe cut-back in state
contract awards last year and the new contract may indicate
money is flowing again.
(Reporting by Andrew Torchia)