May 14 Reuters Most stock markets in the Gulf were subdued in early trading on Tuesday, as investors were cautious ahead of the U.S. inflation data for clues on the Federal Reserve39;s interest rate cut strategy.

Dubai39;s benchmark stock index slipped 0.4, dragged down by industry and real estate sectors, with bluechip developer Emaar Properties sliding 1.1 and Air Arabia dropping 3.4.

The lowcost flyer Air Arabia reported a 22 decline in its quarterly profit on Monday.

In Abu Dhabi, the benchmark stock index was down 0.2, with conglomerate Alpha Dhabi falling 1.6 and First Abu Dhabi Bank, the UAE39;s largest lender, dropping 1.

Saudi Arabia39;s benchmark stock index was little changed in early trading, with Al Rajhi Bank, the world39;s largest Islamic lender, gaining 1.1 and Elm Company adding 1.7. Emaar Economic City, however, dropped 4.7, after the developer39;s quarterly loss widened.

The Qatari benchmark index edged up 0.2, helped by a 0.7 gain in Masraf Al Rayan and a 0.4 rise in Qatar National Bank, the region39;s biggest lender.

Investors are watching the U.S. Consumer Price Index data due on Wednesday for clues to when the Fed will consider cutting interest rates.

Most Gulf currencies are pegged to the dollar, and any U.S. monetary policy change is usually mimicked by Saudi Arabia, the United Arab Emirates and Qatar.

Reporting by Md Manzer Hussain; Editing by Rashmi Aich

Source Reuters