MIDEAST STOCKS-Most Gulf equities gain on easing Iran fears after US midterms, earnings

By Ateeq Shariff

Nov 5 (Reuters) - Most Gulf equity markets ended higher on Thursday as investors bet that Republican losses in this week's US congressional elections could reduce the risk of a wider conflict with Iran, boosting risk appetite across the region.

US President Donald Trump's push for regime change in Iran backfired politically, with voters angered by the war and high fuel prices, delivering Congress to the Democrats and narrowing his room for manoeuvre.

Saudi Arabia's benchmark stock index .TASI gained 0.6%, led by a 1.6% rise in the country's biggest lender by assets, Saudi National Bank 1180.SE, and a 0.8% increase in Al Rajhi Bank 1120.SE.

Sahara International Petrochemical 2310.SE retreated 2.9% after posting a bigger third-quarter loss.

Yemen's Houthis claimed on Wednesday that they targeted Riyadh's King Khalid International Airport. Saudi authorities have not confirmed the attack.

The group also told foreign airlines to stay out of Saudi airspace.

Dubai's main share index .DFMGI finished flat, while blue-chip developer Emaar Properties EMAR.DU advanced 1.8%. Post trading hours, the developer reported steep rise in third-quarter profit.

In Abu Dhabi, the index .FTFADGI rose 0.6%, with conglomerate International Holding IHC.AD closing 1.9% higher. After the bell, the titan reported third-quarter net profit of 6.22 billion dirhams ($1.69 billion), down from 8.70 billion dirhams a year ago.

GCC bourses firmed as easing escalation fears and mediation hopes outweighed tanker disruptions in the Strait of Hormuz. Solid third-quarter results supported select sectors, said Ranim Turfa- Head of Research & Market Analysis - MENA at Tickmill.

The Qatari index .QSI advanced 1.8%, with Qatar Islamic Bank QISB.QA rising 2.9%.

Qatar's emir Sheikh Tamim bin Hamad Al Thani reshuffled QatarEnergy's board of directors, retaining Sheikh Abdullah bin Hamad Al Thani as chairman and Saad al-Kaabi as vice chairman, the emir's office said on Thursday.

Outside the Gulf, Egypt's blue-chip index .EGX30 climbed 1%.

The US Embassy announced that Washington and Cairo have signed a $125 million deal to open doors for American firms in Egypt and spur private-sector expansion.

($1 = 3.6730 UAE dirham)