Gulf markets resume trade early Sunday after holidays, with investors taking signal from gains in global markets on Friday.
Major world stock indexes increased and U.S. Treasury experienced a slowdown last Friday after a decrease in job growth fueled hopes of a U.S. interest rate cut, while there were hints of progress in Washington’s trade battles.
“Sentiment is up across the board on global markets amid expectations of a U.S. rate cut,” said a trader in Dubai.
Qatar’s index. QSI was flat on profit-taking after strong gains prior to the Eid holidays. The index closed 1.5% higher on June 3, a day before the Qatari market closed for holidays.