Gulf indexes end higher

Major Gulf bourses rebounded on Tuesday on hopes the coronavirus pandemic was nearing a peak and governments were taking more stringent measures to contain the outbreak.

Saudi Arabia's benchmark index gained 1%, snapping two days of losses, with Al Rajhi Bank gaining 1.3% and Saudi Telecom rising 2.8%.

On Monday, Saudi Telecom extended its agreement for a period of 90 days with Vodafone to acquire the group's shareholding in Vodafone Egypt.

Saudi Arabia, which extended coronavirus curfew indefinitely, has reported 4,934 confirmed cases of COVID-19 as of Monday, with 65 deaths.

Dubai's benchmark index climbed 2.9%, led by a 3.5% rise in Emirates NBD Bank and a 3.6% increase in sharia-compliant lender Dubai Islamic Bank.

In Abu Dhabi, the index increased 1.1% as International Holding surged 13.1%.

Early this week, the United Arab Emirates central bank urged commercial lenders to use the $70 billion worth of capital and liquidity measures launched by the regulator to support the economy during the coronavirus outbreak.

The UAE, which as of April 13 had registered 4,521 virus cases, has sought to stem the spread of the disease by bringing vital sectors such as tourism and transport to a near halt.

The Qatari index closed up 1.1%. Qatar Islamic Bank and Qatar National Bank gained 2% and 1.1%, respectively.

Outside the Gulf, Egypt's blue-chip index gained 1%, with 28 of the 30 stocks on the index rising. Tobacco monopoly Eastern Co gained 1.8%.

The Arab world's most populous country has enforced a nightly curfew, banned large public gatherings and closed schools and universities in a bid to curb the spread of the virus.