Gulf markets rallied Monday, some from multi-year lows, as growing hopes euro zone leaders would unveil fresh measures to resolve a two-year-old debt crisis lifted stocks worldwide. World stocks jumped while the euro rose from a seven-week low Monday as optimism grew that European leaders would come up with a new plan to resolve the region's debt crisis. “There's a lot of volatility given what's going on in Europe and the news flow tends to drive sentiment on a day to day basis,” said Tarik Lotfy, head of MENA equities at Arqaam Capital in Dubai. Saudi stick benchmark index rose 1.17 percent to 6,118.64 points, rising for a first session in six, easing away from Sunday's seven-week low. Kuwait measure edged up 0.01 percent to 5,783 points. Dubai index climbed 1.8 percent to 1,367 points. Abu Dhabi index rose 0.3 percent to 2,423 points. Qatar benchmark rose 0.3 percent to 8,583 points. Bahrain index slipped 0.2 percent to 1,159 points. The Dow Jones industrial average gained 280.60 points, or 2.50 percent, at 11,512.38. The Standard & Poor's 500 Index was up 31.95 points, or 2.76 percent, at 1,190.62. The Nasdaq Composite Index was up 78.33 points, or 3.21 percent, at 2,519.84. In London, the FTSE-100 rose 2.87 percent to 5,312.76 points. In Paris, the CAC-40 soared 5.46 percent to 3,012.93 points and in Frankfurt the DAX 30 jumped 4.60 percent to 5,745.33 points. Meanwhile, New York's main contract, light sweet crude for delivery in January put on $1.63 to $98.40 a barrel, having earlier jumped as high as $100.74. Brent North Sea crude for January soared $2.11 to $108.51.
