DUBAI, Aug 1 (Reuters) - Dubai's stock market may follow global shares higher and continue to outperform regional counterparts on Tuesday, while Saudi Arabia's index may stall because of uninspiring quarterly results.

MSCI ACWI , an index of the world's 47 stock markets, logged its ninth consecutive month of gains in July, the longest winning spell since 2003-04, on the back of expectations of solid global economic growth.

The Saudi index was the worst performer in July, shedding 4.5 percent as second quarter results have, for the most part, underwhelmed investors.

Dubai's index meanwhile was the top performer, up 7.1 percent mostly because of speculative trade in mid- to smaller-sized companies.

"Dubai has long been seen as the so-called safe haven in the region, and when there is such uncertainty in how other economies are faring it regains its allure," said a Dubai-based stock broker.

Technical analysts at NBAD Securities said the index broke over the immediate resistance of 3,620 points on Monday and closed bullish.

"The rally is expected to extend gains and target 3,700-3,738 in the short term," NBAD Securities said.

The only listed miner in the region, Saudi Arabian Mining Co announced late on Monday it had a little more than doubled its net income in the second quarter from the prior year period to 356.47 million riyals ($95.07 million), broadly in line with the average forecast of three analysts polled by Reuters.

The company attributed its growth to higher sales volume in gold, ammonia and fertiliser, and control over costs.

In Dubai, shares of contractor Arabtec may attract some interest after the company said it had been awarded a 628 million dirhams ($171.00 million) contract from DAMAC Properties .

($1 = 3.7497 riyals)

($1 = 3.6726 UAE dirham)

(Reporting by Celine Aswad; Editing by Biju Dwarakanath) ((celine.aswad@thomsonreuters.com)(+9715 62247653)(Reuters Messaging: celine.aswad.thomsonreuters.com@reuters.net))