DUBAI, July 23 (Reuters) - Gulf equity markets edged down in early trade on Thursday, led by Dubai where Emaar Malls Group (EMG) slightly disappointed investors with its second-quarter earnings.
Dubai's index fell 0.5 percent as EMG and its parent Emaar Properties slipped 1.2 percent each.
EMG reported a 43 percent rise in second-quarter net profit to 412 million dirhams ($112.2 million). Investment bank EFG Hermes had forecast EMG would make 445 million dirhams and Naeem brokerage had expected 425 million. Quarter-on-quarter, EMG's net profit fell 5 percent.
Among other stocks, logistics firm Aramex rose 0.8 percent, extending gains on an expected fall in diesel prices due to United Arab Emirates domestic fuel price reforms announced on Wednesday. Union Properties also added 0.8 percent after saying on Wednesday it planned three new projects worth 2 billion dirhams.
Abu Dhabi's bourse slipped 0.3 percent as large lender Abu Dhabi Commercial Bank fell 1.8 percent, pulling back from a 4.0 percent jump in the previous session on strong quarterly results.
Abu Dhabi Islamic Bank added 1.2 percent after beating estimates with a 10.5 percent rise in second-quarter net profit. It made 502.6 million dirhams, while analysts polled by Reuters had forecast an average of 484 million dirhams. The bank also announced a rights issue on Thursday.
Qatar's market inched down 0.1 percent in thin trade as Islamic lender Masraf Al Rayan fell 0.6 percent.
Kuwait edged down 0.3 percent and Oman, up 0.3 percent, was the only gainer in the region. National Bank of Oman, which last week beat estimates with a 21.4 percent increase in second-quarter profit, was up 2.3 percent.
(Reporting by Olzhas Auyezov; Editing by Andrew Torchia and David Holmes)