DUBAI, July 31 (Reuters) - Stock markets in the Gulf were soft in early trade on Sunday, weighed down by weak oil prices and a lacklustre set of second-quarter corporate results.

Riyadh's stock index .TASI lost 0.2 percent after 40 minutes of trade as the petrochemical sector .TPISI dropped 0.4 percent. The September Brent oil contract settled at $42.46 a barrel on Friday, down 0.6 percent on the day and 14.5 percent lower on the month.

Emaar the Economic City 4220.SE , builder of the King Abdullah Economic City in Jeddah, dropped 2.9 percent. The company reported a 58 percent jump in second-quarter net profit to 79 million riyals ($21.1 million), but it attributed the rise mainly to cancellation of a rental contract and to changes in infrastructure cost estimates for industrial land.

In Dubai, the main index .DFMGI edged down 0.3 percent as du DU.DU dropped 2.3 percent. The telecommunications operator reported an 11.3 percent fall in second-quarter net profit to 445.4 million dirhams ($121.3 million), at the low end of expectations; analysts at EFG Hermes and SICO Bahrain had forecast 433.8 million dirhams and 487.1 million dirhams respectively. ID:nD5N1A501B

But Aramex ARMX.DU jumped 3.5 percent on news that the founder, Fadi Ghandour, has sold all his shares in Levant Logistics Holdings, which held his 9.9 percent stake in Aramex. This, and the purchase on Thursday of a 6.55 percent stake in Aramex by Jaona Investment LLC, suggested the interest of a strategic investor in the company. On Thursday, Aramex reported a 36-percent rise in second-quarter net profit, above estimates. ID:nD5N1A501D ID:nD5N17T02K

In Abu Dhabi the index .ADI was flat as usually heavily traded shares moved little. Aldar Properties ALDR.AD , which is due to report earnings this week, slipped 0.4 percent.

(Reporting by Celine Aswad; Editing by Andrew Torchia) ((celine.aswad@thomsonreuters.com; +971 4 4536886; Reuters Messaging: celine.aswad.thomsonreuters.com@reuters.net))