Most Gulf stocks end higher on stimulus, oil prices

Most markets in the Middle East reversed losses to close higher on Thursday as measures by the region's central banks calmed investor nerves, while higher oil prices also aided sentiment.
Oil prices bounced nearly 7% after a three-day selloff drove them to their lowest in almost two decades as demand plummeted due to the coronavirus and supplies surged in a fight for market share between Russia and Saudi Arabia.
Brent crude jumped $1.43, or 5.75%, to $26.33 a barrel by 1045 GMT.
In Abu Dhabi, the index leapt 8.4%, with First Abu Dhabi Bank (FAB) surging 14.9%, its biggest intraday gain since June 2016.
Abu Dhabi Commercial Bank was up 14.4% after the lender said on Wednesday it will introduce a wide range of measures from April 2 to help over 1.2 million retail and thousands of small-and-medium business customers.
The UAE last week announced a $27 billion plan to counter the economic fallout from the outbreak.
Dubai's main share index added 2.9%, with blue-chip developer Emaar Properties soaring 12.1%.
But, budget airliner Air Arabia tumbled 4.7%, as the stock traded ex-dividend.
Egypt's blue-chip index jumped 5%, with 28 of thirty stocks on the index rising, including heavyweight Commercial International Bank, which climbed 10%.
Earlier this week, the country's central bank cut its main interest rates by 300 basis points at an unscheduled meeting, describing it as a "pre-emptive" move to support the economy.
In Saudi Arabia, the benchmark gained 1.8%, led by a 3.9% increase in petrochemical firm Saudi Basic Industries. Al Rajhi Bank was up 1.4%.
Saudi Arabia's Energy Ministry said on Wednesday it had directed national oil company Saudi Aramco to keep supplying crude oil at a record rate of 12.3 million barrels per day (bpd) over the coming months. The oil giant's shares were up 1.2%.
Qatar's index retreated 1%, snapping four days of gains. Masraf Al Rayan plunged 7.9% to become top loser on the index, as the lender traded ex-dividend.
However, losses were capped by gains at Qatar National Bank , which rose 2.8%.