MIDEAST STOCKS-Gulf markets to consolidate, Saudi may rebound a bit

April 6, 2015 5:39 AM

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DUBAI, April 6 (Reuters) - Gulf stock markets may consolidate on Monday as their initial reaction to the Iran nuclear deal fades, while Saudi Arabia could rebound moderately after a slight uptick in oil prices.

The Saudi stock index sank 1.7 percent to 8,590 points on Sunday because of the prospect of lower oil prices if a final agreement by a June 30 deadline lifts sanctions on Tehran and allows more Iranian oil into the market. Brent oil plunged nearly 4.0 percent on Thursday.

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