MIDEAST STOCKS-Gulf stocks rise on oil pact, Egypt lifted by IMF agreement - Reuters

MIDEAST STOCKS-Gulf stocks rise on oil pact, Egypt lifted by IMF agreement - Reuters:

Most bourses in the Gulf ended higher on
Sunday, a day after the OPEC+ group of oil producers agreed to
extend record production cuts until the end of July, with
Egyptian shares boosted by a preliminary deal on a standby IMF
loan for the country.

Saturday's deal between OPEC and other producers led by
Russia prolongs a pact that has helped crude prices to double in
the past two months by withdrawing almost 10% of global supplies
from the market.   

Dubai's main share index jumped 4.6%, its biggest
intraday gain since April 7, led by a 9.5% surge for Dubai
Islamic Bank and a 6.1% increase in Emaar Properties
.

In Saudi Arabia, OPEC's de facto leader, the index
was up 0.8%, with Al Rajhi Bank rising 1% and
petrochemicals group Saudi Basic Industries up 1.1%.