MIDEAST STOCKS-Gulf stocks extend gains as U.S.-Iran tension ease - Reuters

MIDEAST STOCKS-Gulf stocks extend gains as U.S.-Iran tension ease - Reuters:

All major Gulf stock markets opened higher on Sunday, extending their gains from the previous session, amid relief at no further escalation in tensions between Iran and the United States.

Last week, U.S. President Donald Trump backed away from days of angry rhetoric against Iran as the two countries tried to defuse a crisis over the U.S. killing of Iranian military commander Qassem Soleimani.

Saudi Arabia’s index rose 0.7%, outperforming regional peers and buoyed by gains in financial and petrochemical shares. Al Rajhi Bank and Banquet Saudi Francis were up 0.6% and 1.5%, respectively.

Advanced Petrochemical added 1.9% after reporting a 5.9% rise in estimated annual profit to 759 million riyals ($202 million).