Most major Gulf stock markets rose on Sunday after a decline in the U.S. unemployment rate bolstered global equities on Friday, with Saudi Arabian shares leading the gains.

The U.S. unemployment rate dropped to near a 50-year low of 3.5% in September, with job growth increasing moderately, suggesting the slowing economy could avoid a recession for now despite the trade dispute between the United States and China.

Saudi Arabia's index rose 0.7%, snapping a three-session losing streak. Jabal Omar Development jumped 4.3% in its sixth day of consecutive gains. The developer and hospitality service provider has been rising after Saudi Arabia launched a new visa regime for 49 countries and appealed to foreign companies to invest in tourism sector.

National Shipping Co. (Bahri) surged 3.8% after it said Ministry Of Defence extended shipment contract for a year, increasing the total deal value to 421.7 million riyals ($112.45 million).

Advanced Petrochemical gained 2% after reporting higher third-quarter profit.

Hope for a ceasefire in Yemen also supported the market after news that Saudi Arabia was considering a proposal by the Iran-aligned Houthi movement for some form of ceasefire which, if agreed, could bolster U.N. efforts to end a devastating war that has tarnished Riyadh's reputation.

The Qatari index was up 0.3% boosted by financial shares. Qatar Islamic Bank rose 1.3% and the Gulf's largest lender Qatar National Bank gained 0.5%. The later is due to report its nine-month earnings later this week.

In Abu Dhabi the index edged up 0.1% after four days of straight losses, led by a 1% gain in Abu Dhabi Commercial Bank.

But Dubai's index bucked the trend to slip 0.2%, with market heavyweight Emaar Properties declining 1.6%.

Contractor Arabtec Holding, however, rose 2.4% after its unit Target Engineering won a 280 million riyals ($74.67 million) contract from oil giant Saudi Aramco.

($1 = 3.7500 riyals)

(Reporting by Maqsood Alam in Bengaluru; Editing by Toby Chopra) ((Maqsood.Alam@thomsonreuters.com;))