Amman - Volatility and speculation are expected to reign at Arab stock markets in the coming couple of weeks, as investors monitor first quarter results and other moving factors, financial analysts said Friday.

"We expect regional markets to remain volatile in the coming few weeks pending the release of first quarter results," Wajdi Makhamreh, Deputy CEO of the Amman-based Sanabel International Brokerage, told Deutsche Presse-Agentur dpa.

"I believe the improving performance at international markets and the adamantly soaring oil prices will reflect positively on Arab bourses, particularly in the oil-rich Gulf region," he said.

Makhamreh expected investors to stick to the "hit-and-run approach" as speculation dominates most of regional markets.

Saudi shares were in a consolidating phase this week, as traders awaited clues to the performance of listed firms during the first quarter of the year and the application of the market's new frame and indexes due to start next week.

The Tadawul All Share Index (TASI) of the Arab world's largest bourse shed further 0.5 per cent this week, closing at 9,367.52 points down from 9,418.32 points last week.

TASI is currently 16.2 per cent lower than at the year's start, according to the weekly report of the Riyadh-based Bakheet Investment Group (BIG).

This week's top gainers were the Saudi Electricity Co and the Saudi Arabian Fertilizers Co, which went up by 3.7 per cent and 2.4 per cent respectively.

Losers were led by Al-Rajhi Bank and Saudi Telecom Co, which declined by 5.4 per cent and 4.2 per cent respectively.

The BIG expected the Saudi stock market to be "cautious" in the coming days with investors awaiting the release of first quarter results "which will be the main moving engine for the market in the coming period."

The Amman Stock Exchange (ASE) was the scene of strong fluctuations this week with strategic stocks - mainly the Arab Bank, the Arab Potash Co, the Jordan Phosphates Mines Co and the Jordan Petroleum Refinery - leading the movement in both directions.

The ASE all-share price index gained 1.89 per cent this week, closing at 8,328 points up from last week's close at 8,173 points, according to the market's weekly report.

The all-share price index of the United Arab Emirates stock exchanges of Dubai and Abu Dhabi went up 1.5 per cent, closing week at 5,884 points from 5,796 points last week.

Kuwait's KSE all-share price index gained 1.2 per cent this week, closing at 14,502 points compared with 14,333 points last week.

Egypt's CASE 30 benchmark, which measures performance of the market's 30 most active firms, rose by 2.3 per cent this week, to close at 11,372 points from 11,117 points last week.(dpa)