Aug 25 Reuters Major stock markets in the Gulf rose in early trade on Thursday, tracking gains in oil prices and Asian shares, with the Dubai index outperforming the region buoyed by Emaar Properties.

MSCI39;s broadest index of AsiaPacific shares outside Japan edged up 0.7, with investors awaiting the U.S. Federal Reserve39;s annual Jackson Hole conference for clues on how sharp future interest rate hikes might be.

The Federal Reserve39;s annual monetary policy conference in Jackson Hole, Wyoming is due to start on Friday.

Dubai39;s main share index advanced 1.1, with Emaar Properties leaping as much as 4.7 to 6.25 dirhams, hitting its highest level since early May, on plans to lift the foreign ownership limit.

Shareholders are to also vote on Sept. 21 on the acquisition of certain assets of Dubai Holding for a mandatory convertible bond of 3.75 billion dirhams 1.02 billion.

The company also entered a definitive deal to divest 100 of its fashion ecommerce venture Namshi to Noon, an ecommerce firm, for 335.2 million.

Saudi Arabia39;s benchmark index gained 0.5, led by a 0.7 rise in Al Rajhi Bank and a 2.7 jump in Saudi Arabian Mining Co.

Oil prices, a key catalyst for the Gulf39;s financial markets, rose on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the partial shutdown of a U.S. refinery.

Brent crude rebounded above 100 after Saudi Arabia floated the idea of OPEC output cuts to…