Sept 21 Reuters Major stock markets in the Gulf were mixed in early trade on Thursday after the U.S. Federal Reserve signalled that interest rates could stay higher for longer.

The U.S. central bank held interest rates steady on Wednesday and projected an increase by yearend, saying monetary policy is likely to be significantly tighter through 2024 than previously thought.

The sixmember Gulf Cooperation Council39;s monetary policy is usually guided by the Fed39;s decision as most regional currencies are pegged to the U.S. dollar.

Saudi Arabia39;s benchmark index dropped 0.6, on course to extend losses from the previous session, hit by a 1.2 fall in Saudi National Bank, the country39;s biggest lender.

Among other losers, oil giant Saudi Aramco retreated 0.6.

Separately, Saudi oil and gas driller ADES Holding said on Wednesday it has set the final price for its initial public offering IPO, implying a valuation of 15.242 billion riyals 4.06 billion for the Saudi sovereign wealth fundbacked firm.

Dubai39;s main share index gained 0.5, led by a 4.5 rise in bluechip developer Emaar Properties and a 0.9 increase in Shariacompliant lender Dubai Islamic Bank.

In Abu Dhabi, the index eased 0.1

Oil prices a key catalyst for the Gulf39;s financial markets  fell in early Asian trade after posting the largest fall in a month in the previous session, as U.S. rate hike expectations offset the impact of drawdowns in U.S. crude stockpiles.

The Qatari benchmark gained 0.1, with…