Most major Gulf bourses rise on strong corporate earnings, steady oil | Reuters

Most major Gulf bourses rise on strong corporate earnings, steady oil | Reuters

Most major Gulf stock markets rose on Thursday, buoyed by steady oil prices and strong corporate earnings, with Saudi Arabia leading the gains.

Meanwhile, most of the Gulf central banks lifted their main interest rates by three quarters of a percentage point on Wednesday, moving with the U.S. Federal Reserve as their currencies are pegged to the dollar. read more

Saudi Arabia's benchmark index (.TASI) rose 1%, with Al Rajhi Bank (1120.SE) climbing 1.1%, while oil behemoth Saudi Aramco (2222.SE) was up 0.7%.

Etihad Etisalat Co (Mobily) (7020.SE) and Banque Saudi Fransi (1050.SE) rose 2.9% and 2.4%, respectively, as the duo reported higher quarterly results.

In Dubai, the main share index (.DFMGI) added 0.8%, bolstered by a 2.8% hike in Dubai's biggest lender Emirates NBD (ENBD.DU), after posting a 42% jump in second-quarter net profit, boosted by higher income and lower impairments. read more

Real estate developer Deyaar Development (DEYR.DU) gained 2.5%, after posting a more than 300% jump in its second-quarter net profit to 32.7 million dirhams.

In Qatar, the benchmark (.QSI) also rose 0.8%, helped by a 1.5% increase in Industries Qatar (IQCD.QA), and a 2% leap in Sharia-compliant lender Masraf Al Rayan (MARK.QA).

Ooredoo (ORDS.QA) was also up 3.6% after reporting quarterly results.