MIDEAST STOCKS-Major Gulf markets jump after Israel-Iran ceasefire
June 24 (Reuters) - Major stock markets in the Gulf advanced in early trade on Tuesday with risk appetite improving after U.S. President Donald Trump said Iran and Israel had agreed to a ceasefire.
Trump announced a complete ceasefire, potentially ending the 12-day war that saw millions flee Tehran and prompted fears of further escalation in the region.
Saudi Arabia's benchmark index .TASI rose 2.1%, led by a 1.9% rise in Al Rajhi Bank 1120.SE and a 2.1% increase in the country's biggest lender Saudi National Bank 1180.SE.
Elsewhere, recently-listed Flynas 4264.SE surged more than 7% to 79.80 riyals.
However, oil behemoth Saudi Aramco 2222.SE declined 1.7%, while fertilizers firm SABIC Agri-Nutrients Company 2020.SE retreated 1.1%.
Oil prices hit their lowest in two weeks after Israel agreed to Trump's proposal, alleviating worries of supply disruptions in the Middle East, a major oil-producing region.
Brent crude futures LCOc1 were down $3.82, or 5.3%, at $67.66 a barrel at 0645 GMT.
Dubai's main share index .DFMGI jumped 3.1% - its biggest intraday rise since mid-December if the gains hold - buoyed by a 4.7% rise in blue-chip developer Emaar Properties EMAR.DU.
Among other gainers, budget airliner Air Arabia AIRA.DU soared 7.2% - its biggest single-day rise in over three years if the gains persist.
Israel has agreed to Trump's proposal for a ceasefire with Iran after it achieved its goal of removing Tehran's nuclear and ballistic missile threat, Prime Minister Benjamin Netanyahu said in a statement posted by his office on Tuesday.
In Abu Dhabi, the index .FTFADGI gained 2.2%, led by a 8.3% leap in Aldar Properties ALDAR.AD.
The benchmark index .QSI in Qatar climbed more than 2%, with Qatar Islamic Bank QISB.QA rising 2.2%.
Qatar reopened its airspace after a brief suspension, its civil aviation authority said early on Tuesday, following a missile attack by Iran on an American air base in Qatar on Monday that caused no injuries.
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