Oct 9 - Major stock markets in the Gulf rose in early

trade on Thursday supported by hopes of further U.S. interest

rate cuts this year and a ceasefire deal in Gaza that could ease

geopolitical tensions in the region.

Market participants cheered Israel and Hamas agreeing to the

first phase of U.S. President Donald Trump's plan for Gaza on

Wednesday, a ceasefire and hostage deal that could open the way

to ending a bloody two-year-old war that has upended the Middle

East.

Saudi Arabia's benchmark index gained 0.3%, led by a

0.8% rise in Al Rajhi Bank and a 1.1% increase in

Saudi Arabian Mining Company.

Peru is pursuing major investments from Saudi Arabia and

U.S. oil giant Chevron ( CVX ) to develop its mining and energy

resources, part of a broad strategy to revitalize the sector, a

top minister said on Tuesday.

Dubai's main share index edged 0.2% higher, with

toll operator Salik Company advancing 2.7%.

Federal Reserve officials agreed that risks to the U.S. job

market were high enough to warrant a rate cut, but remained wary

amid stubborn inflation, per minutes of the September 16-17

meeting released on Wednesday.

Markets are pricing in a 25-basis-point cut each in October

and December, with probabilities of 93% and 78%, respectively,

per the CME FedWatch tool.

The Fed's stance carries heavy clout in the Gulf, where most

currencies are pegged to the U.S. dollar, anchoring regional

monetary policy.

In Abu Dhabi, the index was up 0.1%. However,

gains were limited by losses in Abu Dhabi National Oil Company's

(ADNOC) listed subsidiaries, including ADNOC Drilling

, which declined 3.8%.

Abu Dhabi state oil giant ADNOC said on Wednesday that its

six publicly listed subsidiaries will distribute 158 billion

dirhams ($43.02 billion) in dividends by 2030.

The Qatari index added 0.1%, with Qatar Gas Transport

putting on 1.2%.

($1 = 3.6729 UAE dirham)