a trader looks on near electronic boards showing stock market data at bahrain bourse after joe biden won the us presidency in manama bahrain november 8 2020 reutershamad i mohammed march 16 reuters  most stock markets in the gulf region traded higher in early trade on wednesday with the saudi index gaining after five straight sessions of losses oil prices a key catalyst for the gulfs financial markets rose over 1 bouncing back after earlier declines as russias invasion of ukraine continues to stoke volatile trading with ceasefire talks the latest market trigger brent futures were up 97 cents or 1 at 10088 a barrel at 0503 gmt ukrainian president volodymyr zelenskiy said in a video address released earlier in the day that the positions of ukraine and russia at peace talks were sounding more realistic but more time was needed read more the jump in mobilys stock comes after the united arab emirates telecoms group e etisalatad made an offer to increase its stake in mobily to 50 and one share read more shares of e were up more than 1 other telecoms companies including mobile telecommunications company saudi arabia 7030se and atheeb telecom 7040se also boosted the kingdoms main index dubais main share index dfmgi edged 02 higher helped by a 4 increase in islamic arab insurance co salamadu and a 2 increase in amlak finance amlkdu qatar stocks qsi dipped 04 with petrochemical maker mesaieed petrochemical mphcqa falling 51 after shareholders approved an amendment raising 100 foreign ownership reporting by karina dsouza in bengaluru editing by rashmi aich