(Updates to closing prices)

By Ateeq Shariff

Nov 10 (Reuters) - Most stock markets in the Gulf were

subdued on Monday on soft oil prices and disappointing corporate

earnings.

Saudi Arabia's benchmark index reversed early losses

to close flat, with Al Rajhi Bank dropping 1.2%,

while Dar Alarkan Real Estate Development Co jumped

more than 5%, following a sharp rise in quarterly profit.

Elsewhere, Al Khaleej Training and Education Co

plunged 10%, to be the biggest faller on the index, following a

decrease in third-quarter profit.

Among other losers, budget carrier flynas tumbled

5.4%, after the firm posted losses for the nine-month period

ending September 30, from profit a year earlier.

Crude prices - a catalyst for the Gulf's financial markets -

were steady as investors assessed a potential end to the U.S.

government shutdown and concerns around oversupply in the crude

market.

Brent crude futures rose 11 cents, or 0.17%, to

$63.74 a barrel by 1051 GMT.

Oil prices remain a risk for the broader market given

current price levels and the bearish outlook, said Daniel

Takieddine, co-founder and CEO of Sky Links Capital Group.

Dubai's main share index dropped 0.3%, with top

lender Emirates NBD losing 2.2% and blue-chip

developer Emaar Properties retreating 1.5%.

In Abu Dhabi, the index was down 0.1%, pressured

by a 3.6% decline in Aldar Properties.

However, Fertiglobe - the largest producer of

nitrogen fertilisers in the Middle East and North Africa -

advanced 2.1%, after the firm turned to quarterly profit.

The Qatari index added 0.4%, helped by a 0.8%

increase in petrochemical maker Industries Qatar .

Outside the Gulf, Egypt's blue-chip index declined

1%, retreating from a record high, dragged down by a 6% slide in

tobacco monopoly Eastern Company ( EML ).

Saudi finished flat at 11,244

Arabia

Abu Dhabi dropped 0.5% to 10,020

Dubai eased 0.3% to 6,008

Qatar gained 0.4% to 11,090

Egypt declined 1% to 40,416

Bahrain added 0.1% to 2,077

Oman advanced 1.6% to 5,663

Kuwait lost 0.2% to 9,434