MIDEAST STOCKS-Saudi bourse ends 3-day losing streak on rising oil

By Ateeq Shariff

March 9 (Reuters) - Saudi Arabia's stock market ended higher on Sunday, snapping a three-day losing streak, in response to Friday's rise in oil prices .

Oil prices - a catalyst for the Gulf's financial markets - gained on Friday but retreated from session highs after U.S. President Donald Trump threatened sanctions on Russia if it fails to reach a cease-fire with Ukraine.

Saudi Arabia's benchmark index .TASI added 0.2%, helped by a 1.5% rebound in oil behemoth Saudi Aramco 2222.SE.

Aramco has been falling since Tuesday when the firm reported a drop in annual profit and signalled it will slash its dividend payouts by nearly a third this year to $85.4 billion.

Meanwhile, the kingdom's economy grew 1.3% year-on-year in the fourth quarter of 2024, preliminary government data showed on Sunday, supported by increased non-oil and government activities.

In Qatar, the index .QSI added 0.1%, with Qatar Islamic Bank QISB.QA gaining 0.5%.

Outside the Gulf, Egypt's blue-chip index .EGX30 finished 0.6% higher, with EFG Holding HRHO.CA advancing 3%.

Analysts and bankers expect foreign investors to extend holdings in Egyptian treasuries, building on last year's IMF-backed recovery and record UAE investment that stabilized the country's economy.