MIDEAST STOCKS-Saudi bourse extends gains; Qatar and Egypt fall on profit-taking

By Amna Mariyam

Sept 21 (Reuters) - Saudi Arabia's stock market closed higher on Sunday after the Saudi Central Bank matched the U.S. Federal Reserve with a quarter percentage-point interest rate cut, while Qatar and Egypt slipped as traders cashed in profits from recent gains.

The Fed cut its policy rate by 25 basis points on Wednesday and indicated that more cuts would follow as it responded to signs of weakness in the U.S. jobs market.

Saudi Arabia's benchmark index .TASI rose 0.3%, consolidating three days of gains on energy-led buying.

Oil behemoth Saudi Aramco 2222. jumped 1.9% to a level last seen more than two months ago. Saudi Arabian Mining 1211.SE advanced more than 2%.

MBC Group 4072.SE surged 10%, mirroring the previous session's strength after its unit Istedamah Holding sold its entire stake in MBC to the Public Investment Fund (PIF), the kingdom’s sovereign wealth fund.

Qatar's benchmark index .QSI edged lower by 0.4%, ending a four-day winning streak with selling concentrated in energy and financial shares.

Qatar Islamic Bank QISB.QA declined nearly 2%, while Qatar Fuel QFLS.QA slid 1%.

Crude - a key catalyst to Gulf economies - slipped on robust supply and weakening demand, with Brent crude futures LCOc1 settling at $66.68 a barrel, down 76 cents, or 1.1%.

Outside the Gulf, Egypt's blue-chip index .EGX30 also finished the session 0.4% lower, hit by a 2% fall in Commercial International Bank COMI.CA.

Orascom Construction ORAS.CA, however, jumped 3.7% for a third straight session after recently debuting its primary listing on Abu Dhabi’s main index .FTFADGI, while retaining its secondary listing on the Egyptian exchange.