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Saudi traders monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020.
Most Gulf stock markets ended higher on Sunday, extending gains from the previous session after temporary U.S. tariff relief boosted sentiment, though global trade uncertainty remains a concern. In a stunning reversal, U.S. President Donald Trump on Wednesday announced a temporary lowering of hefty duties he had imposed on dozens of countries.
Saudi Arabia's benchmark index gained 0.8%, helped by a 3.9% rise in Riyad Bank and a 0.4% increase in Al Rajhi Bank.
The Qatari index added 0.2%, with petrochemicals and commodities-focused conglomerate Industries Qatar closing with a gain of 0.7%. Outside of the Gulf, Egypt's blue-chip index advanced 1.2%.
Almost all constituents were in positive territory, including a 3.9% jump for tobacco monopoly Eastern Company.
SAUDI ARABIA rose 0.8% to 11,593
QATAR was up 0.2% to 10,118
EGYPT gained 1.2% to 31,175
BAHRAIN finished flat at 1,902
OMAN added 0.1% to 4,276
KUWAIT lost 0.2% to 8,361
(Reporting by Ateeq Shariff in Bengaluru Editing by David Goodman)