By Ateeq Shariff
(Reuters) – Most Gulf stock markets closed higher on Sunday as fears of an all-out conflagration in the region eased after Iran downplayed Israel's attacks on military targets, saying the airstrike had caused only limited damage.
The United States, which had pressured Israel to avoid attacking sensitive Iranian nuclear and energy sites, joined other countries in calling for an end to the cycle of confrontation between Israel and Iran.
Saudi Arabia's benchmark index advanced 1.5%, ending three sessions of losses, led by a 3.6% rise in aluminum products maker Al Taiseer Group.
Among other gainers, telecommunications company Etihad Etisalat gained 2.2%, after reporting a net profit of 829 million rials ($220.9 million), up from 524 million rials a year ago.
In Qatar, the stock index finished 1.5% higher as all its components rose, including petrochemical manufacturer Industries Qatar, which rose 1.7%.
Outside the Gulf, Egypt's blue-chip index added 0.9%, and the Commercial International Bank rose 2.5%.
While stocks rose, crude oil prices are expected to fall when trading resumes on Monday because Israel's weekend retaliation attack did not target Iranian nuclear and oil infrastructure or disrupt energy supplies, they said. market analysts.
In Doha on Sunday, the directors of the US Central Intelligence Agency (CIA) and Israel's Mossad were due to meet with Qatar's prime minister to begin negotiations for a new short-term ceasefire agreement in Gaza, he said. an official briefed on the talks told Reuters.
SAUDI ARABIA rose 1.5% to 12,069
QATAR jumped 1.5% to 10,560
EGYPT rises 0.9% to 30,812
BAHRAIN fell 0.1% to 2001
OMAN lost 0.3% to 4,811
KUWAIT gained 1.8% to 7,594
($1 = 3.7536 rials)
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