DUBAI- Banks led the Saudi Arabian stock market higher on Thursday after Riyad Bank 1010.SE reported better-than-expected earnings for the third quarter, while builder Drake & Scull DSI.DU jumped in Dubai.

Riyad Bank gained 6.2 percent after reporting a 47.7 percent year-on-year rise in third-quarter net profit to 1.08 billion riyals ($288 million); analysts polled by Reuters had on average forecast 852.5 million riyals.

It was one of the first Saudi banks to report quarterly earnings -- Alinma Bank 1150.SE beat analysts' estimates slightly on Sunday -- so the news buoyed the sector in general. Eleven of 12 listed Saudi banks rose on Thursday.

The Saudi stock index .TASI climbed 1.0 percent. Petrochemical firm Saudi Kayan 2350.SE , which reported a rise in profit to 381 million riyals compared to analysts' average forecast of 129 million riyals, surged 5.0 percent.

In Dubai, Drake & Scull, which has attracted renewed interest since it completed a capital restructuring early this month, gained 5.3 percent to 2.01 dirhams in heavy trade. It has climbed by more than a third since early October.

In Abu Dhabi, Dana Gas DANA.AD added 2.7 percent after saying its operations and production in Iraqi Kurdistan were continuing as normal, following the Iraqi military's retaking of some of the biggest oil fields from Kurdish Peshmerga forces.

Qatar's index .QSI rose 0.3 percent as Qatar Islamic Bank QISB.QA gained 1.5 percent after reporting a 10.9 percent jump in third-quarter net profit, in line with analysts' forecasts.

In Egypt, the blue-chip index .EGX30 gained 0.9 percent. Alexandria Flour Mills AFMC.CA surged 10 percent after announcing a 3.15 Egyptian pound cash dividend, to be paid to holders as of Nov. 6.

Electro Cable Egypt ELEC.CA gained sharply for a second straight day, jumping 9.7 percent to 1.02 pound in its heaviest trade since March 2014, and rising above technical resistance on the January and December peaks of 0.95 pound.

HIGHLIGHTS



SAUDI ARABIA



* The index .TASI added 1.0 percent to 7,011 points.



DUBAI



* The index .DFMGI climbed 0.8 percent to 3,673 points.



ABU DHABI



* The index .ADI edged up 0.1 percent to 4,505 points.



QATAR



* The index .QSI rose 0.3 percent to 8,172 points.



EGYPT



* The index .EGX30 gained 0.9 percent to 13,721 points.



KUWAIT



* The index .KWSE rose 0.2 percent to 6,633 points.



BAHRAIN



* The index .BAX edged up 0.04 percent to 1,279 points.



OMAN



* The index .MSI fell 0.5 percent to 5,067 points.

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