Oct 10 Reuters Stock markets in the Gulf climbed in early trading on Tuesday as U.S. rate worries eased, while investors kept their focus on fresh military conflict in the Middle East after a surprise attack by Hamas militants on Israel over the weekend.
Federal Reserve officials indicated on Monday that rising yields on longterm U.S. Treasury bonds could steer the Fed from further hikes in its shortterm policy rate.
Monetary policy in the sixmember Gulf Cooperation Council GCC is usually guided by policy decisions by the Fed because most regional currencies are pegged to the U.S. dollar.
In Qatar, the benchmark index rose 0.9 with all sectors in the green, supported by a 0.9 gain in the region39;s largest lender Qatar National Bank and 1.3 rise in Commercial Bank.
Saudi Arabia39;s benchmark stock index was up 0.6, helped by gains in all sectors. Etihad Atheeb Telecommunication rose 3.2 and Lumi Rental added 2.1.
Dubai39;s benchmark stock index rose 0.3, with Emaar Properties climbing 2.4 and Tecom Group gaining 1.9.
In Abu Dhabi, the benchmark stock index edged up 0.1, aided by a 5.5 surge in Palms Sports and 1.8 gain in Aldar Properties.
Markets are keeping a close watch on clashes between Israel and the Palestinian militant group Hamas after the latter39;s unexpected attacks on Saturday.
The Israeli military said it called up an unprecedented 300,000 reservists and was imposing a total blockade on the Gaza Strip, raising expectations of a possible ground…