DUBAI: Gulf stock markets were mixed on Thursday, coming under pressure from some negative earnings reports but supported by stronger oil, while Egypt established a clear break of major technical resistance.

Brent crude oil gained more than 2 percent and rose above $50 per barrel on Thursday. Global equities were also strong as the European Central Bank prepared to announce a new quantitative easing program.

Saudi Arabia's Tadawul All-Share Index edged up 0.3 percent to 8,422 points as petrochemicals giant Saudi Basic Industries gained 1.5 percent and a number of other stocks in the sector also rose.

Petrochemicals were hit hard in a sell-off late last year as oil's plunge dented their profit margins; steadier oil prices could boost the sector.

Meanwhile shares in Etihad Etisalat Mobily, the Kingdom's second-biggest mobile telecommunications operator, tumbled their daily 10 percent limit to SR42.70. Mobily made a fourth-quarter net loss of SR2.28 billion ($607 million), while analysts had forecast a profit of SR1.33 billion.

Brokerage EFG Hermes slashed its fair value estimate of the stock to SR38.1 from SR92 in response.

Mobily's smaller competitor Zain Saudi, however, added 0.6 percent after reporting a reduced fourth-quarter loss of SR306 million. Analysts had forecast a loss of SR388.5 million.

Egypt's bourse rose 0.4 percent and Global Telecom led gains, climbing 2.9 percent. The Egyptian benchmark's Thursday close at 9,899 points marked a clear break of a major chart barrier at 9,831 points, September's multi-year peak. The index now faces its next major barrier at 12,039 points, the all-time high hit in 2008.

Dubai's index rose 0.9 percent as Dubai Islamic Bank added 1.8 percent and Emaar Properties gained 0.7 percent.

Abu Dhabi's benchmark edged down 0.4 percent as most blue chips pulled back.

Qatar's index fell 1.3 percent as trading focused on developer Mazaya Qatar.