March 11 (Reuters) - Major stock markets in the Gulf were mixed in early trade on Monday ahead of a reading on U.S. inflation that could hasten, or delay, the start of global rate cuts.
Traders are looking to U.S. consumer price inflation data, due on Tuesday, with bets on a rate cut in June from the U.S. Federal Reserve currently at 73%.
Most Gulf currencies are pegged to the dollar, and any monetary policy change in the United States is usually mimicked by Saudi Arabia, the United Arab Emirates and Qatar.
The Qatari benchmark index fell 0.2%, weighed down by losses in most sectors, with Qatar Electricity and Water dropping 4.9% and Gulf International Services sliding 4.2%.
Saudi Arabia's benchmark stock index eased 0.1%, with most sectors in the red.
Arabian Contracting slumped 8.5% and Elm Company slipped 2.1%, although Saudi Chemical surged 5%.
Saudi-based explosives manufacturer Saudi Chemicals reported on Sunday 128.1% rise in full-year net profit.
In Abu Dhabi, the benchmark stock index was up 0.1%, supported by a 1.6% increase in Aldar Properties and 2% gain in Abu Dhabi National Energy.
Dubai's benchmark stock index rose 0.4%, with blue chip developer Emaar Properties gaining 0.9% and Emirate's largest lender Emirates NBD adding 0.6%.
Reporting by Md Manzer Hussain; Editing by Sonia Cheema
Source: Reuters