Nov 7 (Reuters) - Major stock markets in the Gulf were mixed in early trade on Tuesday amid falling oil prices, with the Saudi index on course to snap a seven-day winning streak.
Oil prices slipped on Tuesday, erasing Monday's gains as mixed economic data from second-largest oil consumer China and winter demand worries offset the impact of Saudi Arabia and Russia extending output cuts.
Saudi Arabia's benchmark index fell 0.2%, and was on course to end seven straight sessions of gains, as Lumi Rental fell 0.8%.
The auto rental firm recorded a quarterly net profit of 35 million riyals ($9.3 million), up from 30.5 million riyals last year but down 30% in sequentially.
Meanwhile, Malath Cooperative Insurance plunged about 9% after posting a quarterly loss.
On the other hand, oil giant Saudi Aramco rose 0.5% after reporting a 23% drop in third-quarter net profit, which marginally beat analyst estimates.
Saudi Arabia, OPEC's de facto leader, said it would continue with voluntary oil output cut of 1 million barrels per day (bpd) until the end of the year and review the decision next month.
The Qatari benchmark dropped 0.5%, dragged by a 1.7% decline in petrochemical maker Industries Qatar and a 1.3% decrease in Islamic lender Masraf Al Rayan.
Elsewhere, Dubai's main share index gained 0.5%, with toll operator Salik rising 1.3% and blue-chip developer Emaar Properties trading 0.9% higher.
Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum approved a budget of 246.6 billion dirham ($67.14 billion) for the emirate's government in 2024-2026, the Dubai media office said on Monday.
In Abu Dhabi, the index added 0.2%.
($1 = 3.7513 riyals)
Reporting by Ateeq Shariff in Bengaluru; Editing by Varun H K
Source: Reuters