Mideast Stocks: Gulf bourses gain as stimulus hopes offset virus – ZAWYA

Mideast Stocks: Gulf bourses gain as stimulus hopes offset virus – ZAWYA

Saudi Arabia's benchmark index gained 2.2%.. Major stock markets in the Gulf opened higher on Tuesday, extending gains from the previous session, on hopes that central banks are likely to enact financial stimulus to offset the impact of the coronavirus outbreak.. In Dubai, the index rose 0.7% with Dubai Islamic Bank , the United Arab Emirates' largest sharia-compliant lender, gaining 1.7% and Emaar Properties was up 1.5%.. The central bank of the United Arab Emirates on Saturday advised banks to reschedule loans and reduce fees and commissions as part of measures to mitigate the economic effects of the coronavirus outbreak..