Gulf stocks end mixed

DUBAI: Stock markets in the Gulf ended mixed on Monday ahead of the usual flurry of quarterly and full-year corporate results, with the Saudi index snapping a five-session losing streak.

Saudi Arabia’s benchmark index gained 0.5%, with Elm Co gaining 1.6% and Al Rajhi Bank climbing 1.9%.

The kingdom’s annual inflation rate eased to 1.5% in December, from 1.7% the previous month, government data showed on Monday, driven by housing rent increases.

Inflation remained relatively low in Saudi Arabia last year compared to global levels, with government policies limiting the impact of international price increases.

However, oil giant Saudi Aramco slipped 1.4%.

Oil prices - which fuel the Gulf’s economy - dipped as the Middle East conflict’s limited impact on crude output prompted profit taking after oil benchmarks gained 2% last week.