MIDEAST STOCKS-Gulf markets edge up on Q2 results, firmer oil - Yahoo Maktoob News:
"Most Gulf stock markets edged up early on Wednesday as Brent oil climbed back above $50 per barrel and shares in DAMAC soared after the Dubai developer reported a more than tripling in its quarterly profit.
Dubai's stock index inched up 0.1 percent, with DAMAC accounting for nearly two-thirds of total traded value, rising 9.1 percent to a record high of 3.49 dirhams.
DAMAC said its second-quarter profit jumped 207 percent to 1.42 billion dirhams ($386.6 million). It also announced an interim dividend of 10 percent cash and 10 percent bonus shares. The cash payout will be its first since it listed in Dubai in January."
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