DUBAI — Stock markets in the Gulf edged up on Tuesday, supported by positive earnings and expectations, but Galfar Engineering dragged down Oman's bourse after its profit slumped. Dubai's index inched up 0.1 percent as heavyweight bank Emirates NBD jumped 3.5 percent, extending gains following the publication of strong second-quarter figures last week. But some property stocks pulled back after jumping in the previous session. Emaar Properties edged down 0.3 percent and Union Properties fell 0.8 percent. The two stocks had jumped 2.3 and 5.0 percent respectively on Monday. Abu Dhabi's bourse climbed 0.5 percent as National Bank of Abu Dhabi rose 1.9 percent and First Gulf Bank added 0.7 percent. Trading in the shares of another large local bank, Abu Dhabi Commercial Bank, is suspended as its board reviews quarterly results on Tuesday. Kuwait's market edged up 0.2 percent. Burgan Bank added 1.2 percent after its quarterly profit rose 23 percent to 19.9 million dinars ($65.7 million). Analysts polled by Reuters had estimated on average a net profit of 17.6 million dinars. Burgan's parent firm, Kuwait Projects Company, climbed 1.5 percent. Oman's index slipped 0.1 percent and Galfar Engineering and Construction tumbled 6.8 percent. Last week, the firm said its consolidated profit had fallen to almost zero in the first half of this year. — Reuters
