Mideast Stocks: Gulf markets flat despite oil price slide

Mideast Stocks: Gulf markets flat despite oil price slide

Major stock markets in the Gulf were largely flat on Thursday, supported by gains in financial shares despite falling oil prices.Brent crude futures fell 64 cents, or 1.55%, to $40.59 a barrel at 0756 GMT as Democrat Joe Biden edged closer to the White House in a nail-biting U.S. presidential election, but the Republicans look likely to retain Senate control. Meanwhile, the kingdom on Wednesday announced new plans to ease foreign workers' contractual restrictions, abolishing a controversial seven-decade-old sponsorship system known as kafala.Saudi Arabia, which chairs the Group of 20 major economies (G20) this year, is seeking to boost its private sector, part of a plan to diversify its oil-dependent economy.Dubai's main share index gained 0.4%, with sharia-compliant lender Dubai Islamic Bank and Emirates NBD Bank both rising 0.7%.The Abu