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DUBAI, July 27 (Reuters) - Gulf stock markets were little moved in early trade on Wednesday, dampened by weak oil prices and mixed second-quarter earnings in Saudi Arabia, while Dubai's Emaar Properties
EMAR.DU
again pulled back from major technical resistance.
The Dubai index
.DFMGI
edged down 0.2 percent as Emaar, which has since last week been testing resistance on its October peak of 7.01 dirhams, slipped 0.6 percent to 6.86 dirhams.
Logistics company Aramex
ARMX.DU
dropped 0.8 percent after jumping 5.5 percent on Tuesday. After the close on Tuesday, Bloomberg reported, citing unnamed sources, that founder Fadi Ghandour had sold his entire 9.9 percent stake in the firm to Gulf investors including Emaar Chairman Mohamed Alabbar.
Dubai exchange data on Wednesday showed no such ownership change.
Dubai Islamic Bank
DISB.DU
added 0.6 percent after posting a 3 percent increase in second-quarter net profit, broadly in line with analysts' forecasts.
ID:nD5N17T028
In Saudi Arabia, retailer Fawaz Abdulaziz Alhokair Co
4240.SE
jumped 6.9 percent after reporting a 0.9 percent year-on-year rise in net profit for the latest quarter to 212.6 million riyals ($56.7 million).
EFG Hermes had forecast 170.1 million riyals and NCB Capital 190.0 million.
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Low-cost retailer Abdullah Al Othaim
4001.SE
dropped 1.5 percent after posting a 9.6 percent drop in quarterly profit, citing higher personnel and promotional expenses as well as rises in transport and electricity costs due to austerity measures in the 2016 state budget.
Saudi Telecom
7010.SE
sank 1.2 percent after reporting a 27.1 percent year-on-year fall in quarterly profit to 1.87 billion riyals. Analysts had on average forecast 2.37 billion.
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]
National Shipping Co of Saudi Arabia
4030.SE
(Bahri) rose 0.8 percent after reporting a 47.2 percent leap in profit to 504.18 million riyals. Alistithmar Capital had forecast 308.4 million.
ID:nD5N1A500E
National Commercial Bank
1180.SE
was flat after its board recommended paying a cash dividend of 0.60 riyal per share for the first half of 2016, down from 0.80 riyal a year earlier.
ID:nD5N17T00Z
Abu Dhabi's index
.ADI
edged up 0.1 percent, buoyed by a 1.7 percent gain in Aldar Properties
ALDR.AD
after the company said it would expand its retail business in the city of Al Ain.
Qatar's index
.QSI
dropped 0.5 percent in a broad-based decline, although telecommunications operator Ooredoo
ORDS.QA
rose 0.3 percent after reporting a 16.4 percent gain in second-quarter net profit, in line with estimates, buoyed by its Asian businesses.
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(Reporting by Andrew Torchia; Editing by David Holmes) ((andrew.torchia@thomsonreuters.com)(+9715 6681 7277)(Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))
The Dubai index
Logistics company Aramex
Dubai exchange data on Wednesday showed no such ownership change.
Dubai Islamic Bank
In Saudi Arabia, retailer Fawaz Abdulaziz Alhokair Co
EFG Hermes had forecast 170.1 million riyals and NCB Capital 190.0 million.
Low-cost retailer Abdullah Al Othaim
Saudi Telecom
National Shipping Co of Saudi Arabia
National Commercial Bank
Abu Dhabi's index
Qatar's index
(Reporting by Andrew Torchia; Editing by David Holmes) ((andrew.torchia@thomsonreuters.com)(+9715 6681 7277)(Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))