Mideast Stocks: Most Gulf markets gain ahead of US data

Most stock markets in the Gulf closed higher on Monday, in line with global shares, as investors looked ahead to U.S. and Chinese economic data.

Investors were looking ahead to U.S. consumer price index data for July on Wednesday, which is expected to show month-on-month inflation ticked up to 0.2% after a minus 0.1% reading in June. Retail sales data is due on Thursday.

Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by the Fed's decisions, as most regional currencies are pegged to the U.S. dollar.

Dubai's main share index <.DFMGI> gained 0.2%, with toll operator Salik Company <SALIK.DU> rising 1.5% and blue-chip developer Emaar Properties <EMAR.DU> increasing 0.6%.

Among other gainers, Parkin <PARKIN.DU>, which oversees public parking operations, advanced 2.5% after reporting a rise in quarterly profit.

The Qatari benchmark <.QSI> added 0.2%, helped by a 0.9% increase in the Gulf's biggest lender by assets Qatar National Bank <QNBK.QA>.

Saudi Arabia's benchmark index <.TASI> eased 0.3%, weighed by a 1.3% slide in aluminium products manufacturer Al Taiseer Group <4143.SE>.

The Saudi stock market continued to trade sideways after a rebound. However, the market could remain exposed to the downside if US recession fears return, said Hani Abuagla Senior Market Analyst at XTB MENA.

"A stronger rebound in oil prices could drive the stock market to the upside."

Oil prices - a catalyst for the Gulf's financial markets - inched up, having bounced 3.5% last week as fears of a widening Middle East conflict threatened supplies.

In Abu Dhabi, the index <.FTFADGI> declined 1%.

China issues figures on retail sales and industrial production on Thursday, which are expected to show the economy continuing to underperform, potentially exacerbating some investors' fears about global growth.

Outside the Gulf, Egypt's blue-chip index <.EGX30> finished 0.6% higher, with Commercial International Bank Egypt <COMI.CA> gaining 1.6%.

(Reporting by Ateeq Shariff in Bengaluru; Editing by Shreya Biswas)