UAE, Oman edge higher; volumes tepid

Bargain hunters lifted Dubai's shares but thin trading limited upbeat sentiment from global markets.Emaar Properties climbed 1 percent, extending gains for a second session since Thursday's near four-month low.The developer said its Saudi unit Emaar Economic City terminated a contract with Al Radwan Contracting but there would be no adverse financial impact.Other stocks with high retail interest also rose. Dubai Financial Market gained 0.9 percent, up for a second day since posting a 46-percent drop in second-quarter net profit.The benchmark climbed 0.6 percent to 1,527 points, extending gained from Thursday's 19-week low."Volumes will remain light, there won't be a mad rush in to good stocks," said Matthew Wakeman, EFG-Hermes managing director for cash and equity-linked trading.Abu Dhabi's property stocks lifted the index 0.3 percent to 2,628 points.Aldar Properties rose 2.4 percent and Sorouh Real Estate gained 1.6 percent.In Oman, the index climbed 0.3 percent to 5,828 points."Overall market activity will remain duller in the region with the beginning of holy month of Ramadan," said Kanaga Sundar, Gulf Baader Capital Markets head of research.Elsewhere, Qatar's benchmark rose 0.2 percent to 8,417 points, also up for a second day from Thursday's month-low. From / Arabian Business