* Dubai hits six-day closing high of 4,820 points * Volume is nearly double Sunday's 13-month low * Industries Qatar rises 0.8 pct despite 38 pct drop in Q2 profit * Saudi medical shares surge * Oman's Galfar Engineering slides after weak Q2 earnings By Matt Smith DUBAI, Aug 11 (Reuters) - Dubai's stock index rose for a third session in a row on Monday to lead Gulf market gains, while Industries Qatar shrugged off a fifth straight decline in quarterly profit as investors bet the firm's performance would improve in the second half of 2014. Dubai rose 1.7 percent to six-day closing high of 4,820 points as 196 million shares changed hands, nearly double Sunday's 13-month low of 100 million. "What's happening **w locally doesn't mean too much because the market is just chopping around," said Bruce Powers, technical strategist and president at WideVision in Dubai. "In Abu Dhabi the percentage moves are always lower, but it's the same pattern - on both markets we're heading into potential resistance zones," said Powers.
08-13-2014, 06:40 AM
MIDEAST STOCKS-Dubai extends gains; Industries Qatar shrugs off profit slump
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