MIDEAST STOCKS-Gulf bourses gain as stimulus hopes offset virus - Agricultural Commodities - Reuters

MIDEAST STOCKS-Gulf bourses gain as stimulus hopes offset virus - Agricultural Commodities - Reuters:

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.

G7 finance ministers and central bank governors will hold a conference call on Tuesday morning to discuss measures to deal with the widening coronavirus outbreak and its economic impact, a U.S. Treasury spokeswoman said on Monday. 


The European Central Bank on Monday joined the chorus of central banks signalling a readiness to deal with the growing threats from the outbreak.

Saudi Arabia’s benchmark index gained 2.2%. Al Rajhi Bank increased 2.5% and petrochemical maker Saudi Basic Industries traded 3% up.