Most stock markets in the Gulf ended lower on Sunday as investors awaited clues on the future path for interest rates from next week's U.S. Federal Reserve meeting.
Data released on Thursday showed higher than expected U.S. producer prices in November. The bets for a cut at the Fed's Dec. 17-18 meeting stand at close to 97%, according to CME's FedWatch Tool. However, they indicate chances of a pause in January.
The Fed's decisions have a significant impact on the region's monetary policy, as most currencies there are pegged to the U.S. dollar.
Saudi Arabia's benchmark index (.TASI), opens new tab was down for a third straight session, falling 0.3%, with most sectors in the red.
Riyad Bank (1010.SE), opens new tab lost 2.1% while Dar Al Arkan Real Estate Development (4300.SE), opens new tab shed 0.7%. The developer's LSE-listed international arm, Dar Global has agreed a number of deals with The Trump Organization, including plans for Trump towers in Jeddah and Dubai.
However, Saudi Cable (2110.SE), opens new tab surged 8.5% after its Bahrain branch signed a project contract with Diyar Al Muharraq Co.
Oman's benchmark index (.MSX30), opens new tab slipped 0.7%, with all of its constituents seeing losses. Bank Dhofar (BKDB.OM), opens new tab dropped 4.7% and Voltamp Energy (VOES.OM), opens new tab slid 9%.
OQ Base Industries (OQBI.OM), opens new tab ended 3.6% lower after falling as much as 10% in early trading on its market debut. The petroleum wholesaler, OQBI, has raised $488.8 million through a 49% stake sale in initial public offering.
The Qatari benchmark index (.QSI), opens new tab extended its rally to a fifth session, gaining 0.1%. Qatar Fuel (QFLS.QA), opens new tab rose 1.8% and Gulf International Services (GISS.QA), opens new tab (GIS) climbed 3%.
Meanwhile, state-owned energy giant QatarEnergy, which holds significant stakes in GIS and Qatar Fuel has entered into an agreement with Harmattan Energy Limited to acquire a 27.5% interest in an offshore exploration block in Namibia.
Among other gainers, Lesha Bank (QFBQ.QA), opens new tab was up 2.1% after the Islamic lender said it has acquired five Boeing 777-300ER aircraft worth around 1 billion riyals ($274.35 million) to lease them to an airline.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab eased 0.1%, with Talaat Moustafa Group (TMGH.CA), opens new tab sliding 1.8% and Eastern Company (EAST.CA), opens new tab falling 0.8%.
However, Commercial International Bank (COMI.CA), opens new tab added 0.6% and Palm Hills Development (PHDC.CA), opens new tab rose 1.4%. The real estate developer, PHD, said on Thursday it has raised its stake in Taaleem Management Services (TALM.CA), opens new tab to 32.61%.
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