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Saudi Arabia's stock market ended higher on Sunday, extending gains from the previous session, after S&P upgraded its ratings, although other Gulf peers were subdued amid economic uncertainty sparked by U.S. President Donald Trump's trade tariffs.
Global ratings agency S&P raised Saudi Arabia's rating to 'A+' from 'A' with a stable outlook on Friday, underpinned by ongoing social and economic transformation in the country.
Saudi Arabia's benchmark index <.TASI> finished 1.1% higher, helped by a 4.4% rise in Saudi Arabian Mining Company <1211.SE> and 0.6% increase in Al Rajhi Bank <1120.SE>.
In Qatar, the index <.QSI> closed flat.
Outside the Gulf, Egypt's blue-chip index <.EGX30> rose 0.2%, helped by a 2.7% gain in Fawry for Banking Technology and Electronic Payment <FWRY.CA>.
SAUDI ARABIA | <.TASI> rose 1.1% to 11,854 |
QATAR | <.QSI> was flat at 10,422 |
EGYPT | <.EGX30> up 0.2% to 31,338 |
BAHRAIN | <.BAX> eased 0.2% to 1,967 |
OMAN | <.MSX30> down 0.1% to 4,382 |
KUWAIT | <.BKP> fell 0.6% to 8,426 |
(Reporting by Ateeq Shariff in BengaluruEditing by Bernadette Baum)