MIDEAST STOCKS-Gulf edges up in quiet trade, focus on smaller stocks | Reuters:
"Most Gulf stock markets edged up in quiet trade early on Wednesday, buoyed by an overnight rise in oil prices and U.S. bourses, but much activity focused on second-tier stocks favoured by local speculators.
Saudi Arabia's index gained 0.4 percent in the first 45 minutes of trade with publisher Saudi Research and Marketing jumping its 10 percent daily limit to 49.60 riyals, breaking out of a 36-45 riyal range in which it had been trapped since mid-February.
Dubai's stock index rose 0.7 percent as Islamic mortgage provider Amlak added 2.1 percent. It reported that first-quarter profit jumped to 123 million dirhams ($33.5 million) from 6 million dirhams a year earlier; managing director Arif Alharmi predicted "modest growth for the remainder of the year"."
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