0640 GMT - Qatar's stock market jumps 5.1 percent on hopes that Russia's offer to work with Syria on putting its chemical weapons under international control could give U.S. President Barack Obama a face-saving way to avoid military action.
Partly because of Qatar's strong and open backing for the Syrian rebels, its markets are seen as more vulnerable than most in the Gulf to geopolitical risks related to the Syrian conflict and any retaliation against Gulf countries by Damascus or its allies.
The Qatar index's jump still leaves the market 4.9 percent below a multi-year peak hit in August, before prospects for U.S. military intervention in Syria increased.
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0610 GMT - Dubai's bourse surges in early trade after the United States said Russia's offer to work with Syria to put its chemical weapons under international control could be a potential 'breakthrough' in the crisis.
The Iranian foreign ministry on Tuesday said it supports Russia's offer.
Dubai's index jumps 5 percent to 2,441 points and Abu Dhabi's benchmark rallies 5 percent to 3,652 points.
Buying demand has increased following two weeks of heavy selling on hopes a potential military strike on Syria may be averted.
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0600 GMT - Russia's offer to work with Syria to put the warn-torn country's chemical weapons under international control could help boost Gulf investor sentiment and lure bargain hunters back to regional markets on Tuesday.
United States President Barack Obama said Russia's offer could be a potential 'breakthrough' in the crisis, reducing fears of a U.S. led military strike against Syria for its alleged use of chemical weapons.
Brent crude oil futures dropped to a one-week low below $113 a barrel on Tuesday as supply fears abated.
Most Gulf Arab markets fell on Monday in volatile trade, with Dubai's index slumping to a two-month low and Abu Dhabi dropping to its lowest close since late May.
Elsewhere, Asian stocks rose to three-month highs on Tuesday as investors wagered upcoming Chinese data will add to signs the global economy is stabilising. (Reporting by Nadia Saleem and Andrew Torchia; Editing by Matt Smith and Andrew Torchia)
Source: http://news.yahoo.com/stocks-news-mideast-qatar-jumps-5-1-pct-064803959--sector.html
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