(Updated 11:03 Dubai time) Gulf stock markets were mixed in early trade on Wednesday, guided largely by announced and expected dividends, as slightly weaker oil prices made investors cautious about opening new positions.
Brent crude traded at $62.20 per barrel, down 0.5 percent by 0645 GMT, after surging over the past two weeks.
Dubai's stock index inched up 0.1 percent as blue-chip real estate developer Emaar Properties climbed 1.0 percent, but the overall split between gainers and losers was roughly equal.
Another developer, Damac, added 1.7 percent. The firm plans to issue bonus shares instead of a cash dividend for 2014, but has not yet announced an exact date for that.
Abu Dhabi was nearly flat as just a handful of stocks moved.
Qatar's benchmark slipped 0.3 percent and Qatar Electrocity and Water Co, down 4.5 percent, was the main drag. The stock no longer carries the 2014 dividend.
Oman's index rose 0.1 percent as Galfar Engineering & Contracting, which has yet to announce 2014 dividends, surged 8.7 percent.
Kuwait's bourse edged down 0.7 percent with most stocks in the red.
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