Oct 24 Reuters Stock markets in the Gulf ended mixed on Tuesday ahead of U.S. economic data expected to offer clues to the next steps by the Federal Reserve, while widening conflict in the region weighed on sentiments.
The U.S. Commerce Department will announce thirdquarter gross domestic product on Thursday, while the Personal Consumption Expenditures PCE report, the U.S. central bank39;s preferred inflation gauge, is due on Friday.
Monetary policy in the sixmember Gulf Cooperation Council is usually guided by Fed policy decisions because most regional currencies are pegged to the U.S. dollar.
Saudi Arabia39;s benchmark index gained 0.8, snapping four sessions of losses, led by a 2.7 rise in Lumi Rental Co and a 4.4 jump in Alinma Bank.
Post trading hours, the lender reported a quarterly net profit of 1.32 billion riyals 351.89 million, up from 989 million riyals year ago.
Separately, the kingdom39;s Tourism Minister Ahmed Al Khateeb said on Tuesday the kingdom could record almost 100 million tourist visits this year, with tourism contributing around 6 of gross domestic product.
Dubai39;s main share index added 0.3, helped by a 1.8 rise in bluechip developer Emaar Properties.
Oil a catalyst for the Gulf39;s financial markets recovered some of the previous day39;s losses as markets worried that the IsraelHamas war could escalate into a wider conflict in the crudeexporting region.
The Qatari benchmark declined 2.3, hitting its lowest in over three years, as…