Markets seen flat ahead of Q2 results

Middle East stock markets are again seen lacklustre on Monday, with investors holding fire until the second-quarter earnings seasons starts.DP World has postponed a dual-listing on the London Stock Exchange until an "acceptable system that supports the dual listing is available". Mohammed Yasin, Shuaa Securities chief executive, says DP World's shares are unlikely to see much reaction to the postponement.

"The (dual listing) did not make much sense to most of the investment community here," he says, adding the company's investor base was in Gulf Arab region, not London.Dubai house prices are not seen recovering before 2011 at the earliest while oversupply in commercial property will boost vacancy rates to more than 50 percent next year, Jones Lang LaSalle said. Uncertainty over a world economic recovery and euro zone sovereign debt issues continues to weigh on sentiment in Middle East, pushing investors to stay out of the market, with trading volumes falling across the region."People are sitting on the sidelines and waiting for the Q2 numbers, with the Saudi earnings season starting on Saturday," says a Riyadh-based analyst who asked not to be identified.