MIDEAST STOCKS-Most Gulf markets gain ahead of earnings

By Ateeq Shariff

April 28 (Reuters) - Most stock markets in the Gulf ended higher on Monday as investors awaited corporate earnings announcements and amid some hopes that the worst of tariff pain is over, although confusion over U.S. trade policy lingered.

U.S. Treasury Secretary Scott Bessent on Sunday did not back President Donald Trump's assertion that tariff talks with China were underway and said he did not know if the U.S. president had talked to Chinese President Xi Jinping. Earlier, Beijing denied any talks were taking place.

Saudi Arabia's benchmark index .TASI gained 0.2%, helped by a 9.8% jump in Umm Al Qura For Development and Construction 4325.SE.

The Saudi market retains the potential to climb higher, provided that upcoming earnings reports remain strong, said George Pavel, general manager at Naga.com Middle East.

"However, risks associated with trade developments and oil price volatility will remain critical factors influencing market sentiment."

Dubai's main share index .DFMGI climbed 1%, led by a 1.5% rise in blue-chip developer Emaar Properties EMAR.DU.

In Abu Dhabi, the index .FTFADGI finished 0.8% higher, with Multiply Group MULTIPLY.AD climbing 3.3% as the investment firm is slated to report its first-quarter earnings.

Elsewhere, the United Arab Emirates' biggest lender First Abu Dhabi Bank FAB.AD advanced 1.4% ahead of earnings announcement.

The Qatari index .QSI added 0.3%, with the Gulf's biggest lender Qatar National Bank QNBK.QA rising 0.8%.

Oil prices - a catalyst for the Gulf's financial markets - were stable as investors weighed up uncertainty over trade talks between the U.S. and China, clouding the outlook for global growth and fuel demand, as well as the prospect of OPEC+ raising supply.

Outside the Gulf, Egypt's blue-chip index .EGX30 was up 0.5%, with Commercial International Bank COMI.CA rising 0.7%.