By Mohammed Munther Hussein

August 4 (Reuters) - Most Gulf stocks rose on Monday, recouping some of the previous session's losses on prospects of a Federal Reserve interest rate cut, while lower oil prices and mixed corporate earnings also weighed.

The US economy added fewer jobs than expected in July, and data for previous months was revised downward, increasing bets on an interest rate cut in September.

According to the CME FedWatch tool, the probability of a rate cut is now around 80 percent, up from 63.1 percent a week ago.

Most Gulf countries peg their currencies to the dollar, and Saudi Arabia, the UAE, and Qatar typically track any changes in monetary policy in the United States.

The Qatari index rose 0.1 percent, with most stocks posting gains. Among the most prominent gainers were Commercial Bank, which rose 0.9 percent, and Qatar Electricity and Water Company, which gained 1 percent.

Late Sunday evening, Qatar's electricity and desalinated water supplier announced a 2.7 percent increase in net profits for the first half of the year.

Dubai's main index rose 0.2 percent after two consecutive sessions of losses, supported by industrial, utilities, and financial sector stocks.

Salik shares rose 1 percent, while Gulf Navigation Holding shares rose for the second consecutive day, closing up 5.2 percent.

The Maritime and Shipping Company said last week that it had raised the maximum foreign ownership from 49 percent to 100 percent.

The Saudi index recovered from the previous session's losses, rising 0.1 percent. ACWA Power's shares jumped 3.1 percent, and Saudi Arabian Mining Company (Ma'aden) rose 2.2 percent.

Among other stocks, Nice One Beauty, a digital marketing company, fell 10 percent after the e-commerce company reported a quarterly net loss compared to a net profit the previous year.

Among other losers, shares of oil giant Aramco fell 0.4 percent ahead of its earnings announcement on Tuesday.

Oil prices, a key driver of Gulf financial markets, fell to their lowest levels in a week after the OPEC+ alliance agreed to another significant production increase in September.

Brent crude fell 2.3 percent to $68.06 a barrel by 1310 GMT.

Abu Dhabi's main index declined for the second consecutive session, falling 0.2 percent, with most sectors in negative territory. ADNOC Drilling lost 1 percent, and Abu Dhabi Aviation fell 1.4 percent.

Bahrain's main index closed down 0.1 percent, Oman's main index closed up 0.6 percent, and Kuwait's main index lost 0.6 percent.

Outside the Gulf region, the Egyptian Exchange's main index rose for the third consecutive session, gaining 1.3 percent, supported by a 4.9 percent rise in Citadel Capital and a 2.2 percent rise in Commercial International Bank.

(Prepared by Sherine Abdel Aziz for the Arabic edition - Edited by Moaz Abdel Aziz)