Nov 6 Reuters Most stock markets in the Gulf ended higher on Monday after U.S. jobs data bolstered expectations that the Federal Reserve will not hike interest rates further.

Battered bond markets have recovered as a benign U.S. payrolls report and upbeat productivity numbers suggested the labour market was cooling enough to obviate the need for further rate increases from the Fed.

The U.S. central bank held its interest rate steady on Nov. 1, spurring a global market rally while triggering a drop in the U.S. dollar and Treasury yields.

Most Gulf Cooperation Council countries, including the UAE, peg their currencies to the U.S. dollar and follow the Fed39;s policy moves closely.

Saudi Arabia39;s benchmark index edged 0.1 higher, helped by a 6.7 jump in Etihad Atheeb Telecommunication Co.

Among other gainers, oil behemoth Saudi Aramco added 0.5, ahead of the earnings announcement on Tuesday.

Oil prices a catalyst for the Gulf39;s financial markets  rose after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year.

Dubai39;s main share index rose 0.7, led by a 1.9 rise in bluechip developer Emaar Properties and a 2.4 increase in Dubai Islamic Bank.

The Dubai bourse extended its rebound with sentiment improving after monetary policy expectations softened, said Muhannad AlTeneiji, founder of Wealth Training Center and of Matrix for AI Applications.

The market could continue to see improvements…