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MENAFN - Jordan Times - 27/08/2006

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AMMAN — The Amman Stock Exchange (ASE) finished the week at 6008 points, up by 0.50 per cent, after fluctuating between 5970 and 6000 points during the week amid differences in investors' view about the market trend in the coming couple of months. The market capitalisation stood at JD22.8 billion.

To deliver information to investors more efficiently, the Jordan Securities Commission (JSC) will publish the portfolios of shareholding companies' board members on the websites of the Securities Depository Centre (SDC) and JSC. This information will be updated on a daily basis.

At the Amman Bourse, the average daily trading volume fell by 12.95 per cent to JD85.243 million. Overall advancers outnumbered decliners as 77 companies out of 156 advanced, while 58 companies declined.

The index of the banking sector dropped by 0.07 per cent from last week's level to 11568.2 points. The sector's total trading volume reached JD40.8 million, representing 12 per cent from the total trading activity of the market.

Arab Bank's share closed at JD22.80 unchanged from last week closing. The shares are trading at a forward P/E multiple of 17.2x.

Jordan National Bank completed all the requirements to list its eight million additional shares that take its paid-up capital to JD110 million. The trading in the additional shares will start on Aug. 27, 2006. The shares, trading at a forward P/E of 12.4x, closed at JD2.98 down by 0.67 per cent.

The Insurance Commission revealed preliminary statistics that showed a 20 per cent rise in insurance premiums to JD131.7 million during the first half of this year.

Jordan International Insurance increased its stake in Industrial Development Bank to 5.107 per cent. The share price of the insurance company finished the week at JD2.12, up by 1.44 per cent.

In the services sector, Emmar Investments and Real Estate Development (EMAR) announced the establishment of a JD30 million residential building project near the Marka Airport. The project will comprise around 200 housing units at affordable prices. EMAR's share price finished the week at JD2.90, down by 2.03 per cent.

The 12 million shares of Masafat for Specialised Transport Company were listed on the second market on Aug. 21, 2006. The share price opened at JD4.80 on its first trading session, and finished the week at JD3.97 down by 17.29 per cent.

Shares of Union Investment Corporation were suspended from trading as of Aug. 24, 2006, and will return to trading upon completion of merger procedures with "Al Jabal Company for Residential Projects".

The index of the industrial sector closed at 2620.3 point, up by 2.98 per cent from last week.

The share price of Middle East Complex For Engineering, Electronics closed at JD2.44, up by 3.83 per cent amid active trading that captured 26.45 per cent of the sector's total trading volume.

In financial news, the credit facilities that were granted to the trading sector by licensed banks operating in the country recorded a new high of around JD1.8 billion during the first half of this year, up by 21 per cent when compared to the same period of last year.


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