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MENAFN - Jordan Times - 17/05/2009

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(MENAFN - Jordan Times) The Amman Stock Exchange (ASE) general index went up by 1.59 per cent closing last week at 2803.71 points. Amid notable improvement in trading volumes, the higher performance was led by rising share prices of selected strategic companies, most important of which were Arab Bank, Arab Potash Company and Jordan Phosphate Mines Company which gained by 8.2 per cent, 5.1 per cent and 4 per cent respectively.

We expect the Amman Bourse this week to continue trailing other international and regional markets that are likely to fluctuate within a narrow price range due to the stabilisation of international oil prices at levels above 55.

Except for the services index which declined by 0.96 per cent, all other sectors advanced led by banking whose index rose by 2.91 per cent.

As for trading activity, 134.1 million shares exchanged hands leaving gains at 93 entities and losses at 95 companies out of 200 traded corporations.

In terms of value traded by sector, the diversified financial services came in first place accounting for 27.4 per cent of the total followed by real estate sector with 26.4 per cent and then the services sector which accounted for 17.6 per cent of the value traded last week.

The most actively traded shares were those of Al Tajamouat for Catering & Housing, International Brokerage & Financial Markets and Darkom Finance and Investments with a combined value traded of JD51.3 million accounting for 17.3 per cent of the total value traded.

Only one block deal on the shares of Specialised Investments Compounds was executed with a transaction value of JD2.7 million.

The ASE announced the listing of 12 million new shares of Arab Weavers Union and seven million new shares of Comprehensive Leasing in the second market.

Jordan Securities Commission (JSC) approved the registration of 13 million new shares in the paid-up capital of Jordan New Cable through a public offering.

JSC approved the registration of 3.8 million of the unsubscribed shares in the capital of United Group for Land Transport through the capitalisation of retained earnings and a private placement.

According to data issued by the Department of Statistics (DoS), the consumer price average rose by 1.7 per cent during the first four months of 2009 compared to the same period of 2008.

The DoS announced that the general industrial price index increased by 14.8 per cent during the first three months of 2009 compared to the same period of 2008 and that the general industrial production index declined by 6.4 per cent during the first three months of 2009 compared to the same period of 2008.

Other DoS figures showed that the price index of agricultural producers declined by 19.7 per cent during the month of March 2009 compared to the same period last year.

Jordanian remittances dropped by 3.1 per cent to JD779.2 million during the first three months of 2009 compared to the same period last year.


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