Most Middle Eastern stock markets that were open on Sunday ended higher, as hopes for a peace deal between the U.S. and Iran surged.
President Donald Trump said a memorandum of understanding had been "largely negotiated."
Benchmark stock indexes in Egypt, Jordan, and Qatar gained across the board.
Trump said he instructed U.S. negotiators "not to rush into a deal" and that both sides "must take their time."
Media reports outlined some agreement details. Iran had not agreed to transfer its highly enriched uranium stockpile outside the country.
The deal would extend the current ceasefire by 60 days, reopen the Strait of Hormuz to commercial shipping, and allow Iran to resume unrestricted oil exports.
In return, the U.S. would lift its blockade of Iranian ports and grant sanctions waivers.
Iranian President Masoud Pezeshkian said, "We are ready to assure the world that we are not seeking nuclear weapons."
Israeli PM Benjamin Netanyahu told Trump that Israel would remain free to act against threats in Lebanon.
Market movements: Egypt EGX 30 +1.5%, Jordan +1.6%, Qatar QE General +3.2%.
