MIDEAST STOCKS-Markets to move sideways in thin Ramadan trade

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Middle East equities look set to move sideways with a negative bias on Sunday in trade thinned by the Muslim holy month of Ramadan, which has caused some investors to retreat from the markets. A 2 percent drop in global oil prices on Friday may further dampen Gulf sentiment, particularly Saudi Arabia, although hopes that more foreign institutions will soon be licensed to buy Riyadh-listed stocks directly could help to put a floor under prices there. While the conflict has **t been a big issue for the Saudi market, it has made some retail investors more cautious.

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