Most major stock markets in the Gulf rose in early trade on Wednesday after comments from Federal Reserve Chair Jerome Powell reinforced expectations US rate cuts are approaching.
Data for May showed the Fed's preferred measure of inflation did not increase that month, while the 12-month rate of price increases ebbed to 2.6%, still above the U.S. central bank's 2% target but on the way down.
Dubai's main share index (.DFMGI), opens new tab gained 0.5%, led by a 2.1% rise in budget airliner Air Arabia (AIRA.DU), opens new tab.
In Abu Dhabi, the index (.FTFADGI), opens new tab edged 0.1% higher.
Growth in the United Arab Emirates' non-oil private sector slowed in June with weaker job creation and an easing in output growth, a survey showed on Wednesday.
The Qatari benchmark (.QSI), opens new tab added 0.3%, with Qatar Islamic Bank (QISB.QA), opens new tab gaining 0.7%.
Oil prices - a catalyst for the Gulf's financial markets - were higher as US industry data boosted expectations of robust fuel demand during the summer driving season in the biggest oil consuming nation.
Saudi Arabia's benchmark index (.TASI), opens new tab eased 0.2%, hit by a 2.5% fall in Al Taiseer Group (4143.SE), opens new tab.
Non-oil business activity in Saudi Arabia expanded at its weakest pace in 2 1/2 years in June as new orders slowed, although the sector still grew, a survey showed on Wednesday.
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