DUBAI - Gulf stock markets may be strong on Sunday on the back of positive global trends, while an earnings beat by Saudi Telecom Co may help to buoy that market.

Brent oil closed Friday up 1.9 percent at $60.44 a barrel after Saudi Arabia and Russia pledged support for extending oil output cuts. In equity markets, the Nasdaq Composite added 2.2 percent and the S&P 500 gained 0.81 percent.

Saudi Telecom reported an 18.2 percent increase in third- quarter net profit to 2.62 billion riyals ($698.7 million); the average forecast of four analysts polled by Reuters had been for a quarterly profit of 2.28 billion riyals. The increase was mostly due to cost-cutting, though; revenue from services dropped 8.5 percent to 12.84 billion riyals.

In Doha, Qatar First Bank may come under pressure after reporting that its nine-month net loss widened sharply to 139.6 million riyals ($28.4 million) from a loss of 76.7 million riyals in the first half of this year.

(Reporting by Andrew Torchia) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))