Most stock markets in the Gulf ended higher on Sunday, amid growing optimism for a Federal Reserve interest rate cut in December, although gains were restrained by subdued oil prices.

U.S. monetary policy shifts have a significant impact on Gulf markets, where most currencies are pegged to the dollar, and financial markets are pricing in an increased likelihood of a third and final Fed rate cut this year after Thursday's jobs data.

The delayed U.S. employment report showed a mixed labor market picture, with non-farm payrolls rising by 119,000 in October, well above forecasts for a 50,000 gain, while the unemployment rate climbed to a four-year high.

In Qatar, the index <.QSI> rose 0.4%, led by a 3.6% jump in telecoms firm Ooredoo <ORDS.QA>.

Last week, Ooredoo finalized its fully marketed secondary global offering of shares previously owned by the Abu Dhabi Investment Authority.

Saudi Arabia's benchmark index <.TASI> finished flat, with Saudi Arabian Mining Company (Maaden) <1211.SE> advancing 3.3%.

Rare earth miner MP Materials <MP.N>said on Wednesday it would build a refinery in Saudi Arabia for the minerals, with the U.S. Department of Defense and state-owned Maaden, to expand Middle Eastern processing of the critical minerals.

On the other hand, oil giant Saudi Aramco <2222.SE> lost 0.7%.

Oil prices extended their decline for a third session on Friday, touching a one-month low, as the U.S. pushed for a Russia-Ukraine peace deal that could boost global oil supplies.

Outside the Gulf, Egypt's blue-chip index <.EGX30> was up 0.4%.

Saudi Arabia

<.TASI> closed flat at 11,011

Qatar

<.QSI> rose 0.4% to 10,653

Egypt

<.EGX30> added 0.4% to 40,446

Bahrain

<.BAX> gained 0.5% to 2,031

Oman

<.MSX30> eased 0.9% to 5,598

Kuwait

<.BKP> finished flat at 9,393

(Reporting by Ateeq Shariff in Bengaluru; Editing by David Holmes)