By Ateeq Shariff

Nov 7 (Reuters) - Stock markets in the Gulf ended mixed on Tuesday as investor enthusiasm about a peak in global interest rates faded, with the Qatari index snapping seven sessions of gains.

The Qatari benchmark .QSI fell 0.3%, ending the winning streak, with petrochemical maker Industries Qatar IQCD.QA losing 1.7% and telecoms firm Ooredoo ORDS.QA declining 2.3%.

Dubai's main share index .DFMGI gained 0.8%, with top lender Emirates NBD ENBD.DU advancing 1.1% and Mashreq Bank MASB.DU closing 5.2%.

Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum approved a budget of 246.6 billion dirham ($67.14 billion) for the emirate's government in 2024-2026, the Dubai media office said on Monday.

The Dubai stock market continued to recover from its losses in October. The market continues to find support in the strong local economic fundamentals while sentiment improves, said Daniel Takieddine, CEO MENA at BDSwiss.

"Performance could remain positive if traders continue to focus on softer monetary policy expectations," Takieddine said.

In Abu Dhabi, the index .FTFADGI finished flat.

Oil prices - a key catalyst for the Gulf's financial markets - hit fresh 2-1/2-month lows as mixed economic data from China offset the impact of Saudi Arabia and Russia extending output cuts. O/R

Saudi Arabia's benchmark index .TASI closed flat with negligible loss.

Oil giant Saudi Aramco 2222.SE rose 0.5% after reporting a 23% drop in third-quarter net profit, which marginally beat analyst estimates.

Meanwhile, auto rental firm Lumi 4262.SE slipped 0.6%, after recording a quarterly net profit of 35 million riyals ($9.33 million), up from 30.5 million riyals last year but down 30% in sequentially.

Outside the Gulf, Egypt's blue-chip index .EGX30 advanced 1.5%, led by a 3.5% leap in Commercial International Bank COMI.CA.

Egypt is offering incentives to shore up its tourism industry in southern Sinai on the Red Sea, with fallout from the conflict in the Gaza Strip so far contained to under 10% of bookings in the country, the Egyptian tourism minister said on Monday.

($1 = 3.6728 UAE dirham)

($1 = 3.7513 riyals)

(Reporting by Ateeq Shariff in Bengaluru; Editing by Alison Williams)

((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))