Stock markets in the Gulf were mixed on Sunday, with the Saudi index falling on soft oil prices and lackluster earnings, while the Egyptian index rose to a new peak.

Saudi Arabia's benchmark index dropped 0.5%, hit by a 4.6% plunge in Umm Al Qura For Development and Construction Co - falling for a fourth consecutive session.

Elsewhere, oil giant Saudi Aramco dropped 0.5%, while Saudi Telecom Company lost 0.7%, as the stock traded ex-dividend. Among other decliners, Saudi Research and Media Group retreated 5.1% after posting a third-quarter loss.

On Friday, crude prices recovered from a midday dip on hopes Hungary can use Russian crude oil as Trump met Hungary's Prime Minister Viktor Orban at the White House.

Brent rose 25 cents to settle at $63.63. In Qatar, the index eased 0.1%, with Qatar Islamic Bank losing 0.4%.

Outside the Gulf, Egypt's blue-chip index advanced 2.2% - hitting a record high - as most of its constituents were in positive territory including Commercial International Bank , which was up 2.3%.

Egypt and Qatar signed a partnership deal on Thursday to develop a luxury real estate and tourism project on Egypt's Mediterranean coast, part of Doha's $7.5 billion investment pledge to Cairo.

Saudi Arabia dropped 0.5% to 11,244 Qatar fell 0.1% to 11,048 Egypt advanced 2.2% to 40,822 Bahrain added 0.2% to 2,075 Oman gained 0.5% to 5,573 Kuwait eased 0.2% to 9,448

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