DUBAI, May 17 (Reuters) - Gulf bourses may trade narrowly on Tuesday as oil prices remain firm but there is a lack of other news to stimulate activity.

Brent crude futures are up 0.5 percent at $49.22 a barrel, near a six-month high of $49.47 reached on Monday. Asian shares have recovered from two-month lows after a rebound in technology giant Apple and oil price gains boosted Wall Street.

But Gulf markets have been trading narrowly over the last week in modest volumes, and activity may not pick up significantly over the next two months, during the holy month of Ramadan and the summer season.

Also, many companies are tapping the bond market, which may distract institutional funds from regional equity markets. Banks including Dubai's Noor and Saudi Arabia's Aljazira and AlBilad are in the preliminary stages of arranging Islamic bond issues.

Vodafone Qatar may come under pressure after it posted a net loss of 180 million riyals ($49.5 million) for the three months to March 31, compared to a loss of 66 million riyals a year earlier.

(Reporting by Celine Aswad; Editing by Andrew Torchia) ((; +971 4 4536886; Reuters Messaging: