Arab stock markets are expected to remain volatile in the coming couple of weeks as investors await publication of half- yearly results of leading businesses, financial analysts were quoted by dpa as saying on Friday. "I believe volatility will dominate markets in the coming two weeks pending the publication of the second quarter results, mainly of blue chip firms," a portfolio manager said, requesting anonymity. "The general mood is still positive, but we cannot rule out periodical profit taking moves that push down prices thus providing buy opportunities," he added. This week's fluctuations at the region's key markets of Saudi Arabia, Jordan, Kuwait and Egypt were attributed by analysts mainly to "speculation and varying readings" of semi-annual profits that started to come out over the past few days, dpa reported. The all-share price index of the Amman Stock Exchange shed 0.14 per cent in the week ending Thursday, to close at 7,628 points, compared to 7,639 points last week, according to the ASE weekly report. The heavyweight Arab Bank, which accounts for 40 per cent of the benchmark price, gained 8 per cent this week, propelled by reports that the Arab Bank Group had posted 40 per cent rise in profits in the first half of the year. --More 0020 Local Time 2120 GMT
