Most stock markets in the Gulf ended higher on Wednesday, building on gains led by interest rate cuts last week enacted by regional central banks, although geopolitical tensions weighed on investor sentiment.
Last week, most Gulf central banks cut their key interest rates after the U.S. Federal Reserve decreased rates by half a percentage point citing "greater confidence" on inflation.
The Fed projected a further half-point rate cut by the year-end, a full point next year and a half-point trim in 2026.
Monetary policy in the Gulf Cooperation Council often aligns with the Fed's decisions as most regional currencies are pegged to the U.S. dollar.
Saudi Arabia's benchmark index (.TASI), opens new tab gained 0.6%, with aluminium products manufacturer Al Taiseer Group (4143.SE), opens new tab rising 3.2%.
Among other gainers, oil giant Saudi Aramco (2222.SE), opens new tab was up 0.7%.
Dubai's main share index (.DFMGI), opens new tab advanced 0.6%, led by a 2.2% rise in top lender Emirates NBD (ENBD.DU), opens new tab.
In Abu Dhabi, the index (.FTFADGI), opens new tab closed 0.6% higher, driven by a 0.5% rise in telecoms group e& (EAND.AD), opens new tab after the EU Commission approved the firm's bid for parts of Czech telecom company PPF under certain conditions.
The deal will see e& acquire the sole control of PPF Telecom excluding its local business in the Czech Republic.
The Qatari benchmark (.QSI), opens new tab concluded 0.5% higher, with Qatar National Bank (QNBK.QA), opens new tab gaining 1.3%.
An Israeli airstrike on Beirut killed a senior Hezbollah commander on Tuesday as cross-border rocket attacks by both sides increased fears of a full-fledged war in the Middle East.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab rose 1.2% higher, buoyed by a 2.5% increase in Talaat Mostafa Holding (TMGH.CA), opens new tab.
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