Mideast Stocks: Most Gulf markets rise on oil, Fed rate cut hopes

Commercial International Bank Egypt CIB

22/12/2025 13:07

Updates to closing prices

By Ateeq Shariff

Dec 22 (Reuters) - Most stock markets in the Gulf ended higher on Monday, helped by rising oil prices and positive market sentiment amid growing expectations of additional Federal Reserve rate cuts.

Oil prices - a catalyst for the Gulf's financial markets - rose after the U.S. intercepted an oil tanker in international waters off the coast of Venezuela and tensions in Russia's war against Ukraine remained high, both of which raised fears of supply disruptions.

Saudi Arabia's benchmark index .TASI gained 0.7%, led by a 1.6% rise in Al Rajhi Bank  1120.SE.

Saudi Arabian Mining Company (Ma'aden) 1211.SE jumped 5.3% after it secured Ministry of Energy's approval last week for feedstock allocation to launch its fourth phosphate project.

Dubai's main share index .DFMGI closed 0.7% higher, with top lender Emirates NBD ENBD.DU adding support.

In Abu Dhabi, the index .FTFADGI advanced 0.7%.

Markets are currently pricing in two U.S. rate cuts for next year despite the Fed signalling caution. FEDWATCH

Monetary policy shifts in the U.S. have a significant impact on Gulf markets, where most currencies are pegged to the dollar.

The Qatari index .QSI was up 0.8%, supported by a 1.5% gain in the Gulf's biggest lender Qatar National Bank  QNBK.QA.

Outside the Gulf, Egypt's blue-chip index .EGX30 dropped 0.6%, hit by a 2.4% fall in Commercial International Bank  COMI.CA.

Saudi Arabia
.TASI climbed 0.7% to 10,552
Abu Dhabi
.FTFADGI gained 0.7% 10,036
Dubai
.DFMGI rose 0.7% to 6,158
Qatar
.QSI added 0.8% to 10,801
Egypt
.EGX30 lost 0.6% to 41,103
Bahrain
.BAX eased 0.2% to 2,062
Oman
.MSX30 fell 0.2% to 5,944
Kuwait
.BKP was up 0.1% to 9,568

 (Reporting by Ateeq Shariff in Bengaluru; Editing by Harikrishnan Nair and Tasim Zahid)

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