Mideast Stocks: Most Gulf markets gain on oil, US rate cut bets

Commercial International Bank Egypt CIB

21/12/2025 13:11

By Ateeq Shariff

Dec 21 (Reuters) - Most stock markets in the Gulf ended higher on Sunday, buoyed by Friday's gains in oil prices and amid ongoing investor attention to U.S. data influencing the Fed's monetary policy outlook.

Oil prices - a catalyst for the Gulf's financial markets - edged up on possible disruptions from a U.S. blockade of Venezuelan tankers as the market waits for news about a possible Russia-Ukraine peace deal.

Saudi Arabia's benchmark index .TASI gained 0.3%, led by a 0.8% rise in oil behemoth Saudi Aramco 2222.SE and Al Rajhi Bank 1120.SE, which was up 0.2%.

Recent U.S. macroeconomic indicators have bolstered expectations for interest rate cuts, as U.S. consumer prices increased by 2.7% year-on-year in November, below economists' anticipated rise of 3.1%.

In a separate report earlier this week, the U.S. Labor Department noted that the unemployment rate climbed to 4.6% in November, marking the highest level since September 2021.

Traders continued to bet on at least two 25-basis-point interest rate cuts next year from the Fed, according to LSEG data.

U.S. policy is closely watched in the Gulf, where most currencies are pegged to the dollar.

In Qatar, the index .QSI closed 0.6% higher, with petrochemical maker Industries Qatar  IQCD.QA rising 0.6%.

Outside the Gulf, Egypt's blue-chip index .EGX30 advanced 1%, ending three sessions of losses, with Commercial International Bank COMI.CA climbing 3.2%.

Saudi Arabia
.TASI rose 0.3% to 10,485
Qatar
.QSI added 0.6% to 10,716
Egypt
.EGX30 gained 1% to 41,348
Bahrain
.BAX eased 0.1% to 2,067
Oman
.MSX30 was up 0.3% to 5,959
Kuwait
.BKP finished 0.3% higher to 9,563

 (Reporting by Ateeq Shariff in Bengaluru; Editing by Ros Russell)

 ((AteeqUr.Shariff@thomsonreuters.com; +918061822788))