Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Amman Stock Exchange weekly analysis(April 4-8)  Join our daily free Newsletter

MENAFN - Jordan Times - 11/04/2010

No. of Ratings : 0
Add to Mixx!


(MENAFN - Jordan Times) The Amman Stock Exchange (ASE) general index continued to record more gains for the second week in a row driven by rising share prices of a number of heavy weight stocks led by the Arab Bank which rose by 8.7 per cent during this week's trading session pushing the index above the 2600 psychological barrier for the first time since the 16th of December 2009 amid notably higher trading volumes.

Moreover, this week's daily average trading volume witnessed a significant increase of more than 50 per cent reaching JD59.3 compared to JD39.05 in the previous week. As for next week, we anticipate increasing demand for the shares of strategic companies which are expected to report strong quarter results amid general improvement in market sentiment with a possibility for some profit taking activities on a number of speculative stocks which recorded handsome gains during the past few weeks.

All sector indices recorded gains for this week with the diversified financial services sector being the biggest gainer at 6.93 per cent followed by the real estate sector which rose by 2.73 per cent during this week's trading sessions.

As for the trading activity, 325.69 million shares exchanged hands. Moreover, advancers outnumbered decliners, as 127 companies out of 203 advanced, while 54 declined.

In terms of the value traded by sector, the real estate sector came in first place accounting for 35.1 per cent of the total value traded followed by the diversified financial services sector with 31.3 per cent and then the industrial sector which accounted for 12.7 per cent of the value traded for this week.

The most actively traded shares during this week were the shares of the United Arab Investors (UAIC), Taameer Jordan Holdings (TAMR) and Arab Corp. (ARED) with a combined value traded of JD131.38 million accounting for 44.30 per cent of the week's total value traded.

Additionally, several block deals were executed during the week, the most important of which were on the shares of Union Bank (UBSI) and Capital Bank of Jordan (EXFB) with transaction values amounting to JD4.80 million and JD1.94 million respectively.

The general assembly of Jordan Press Foundation (PRES) has approved the Board of Director's (BOD) recommendation to distribute a JD0.50 cash dividend to the company's shareholders.

The general assembly of Union Bank (UBSI) has approved the BOD's recommendation to distribute a JD0.10 cash dividend to the company's shareholders and the purchase of 5 per cent treasury stocks.

The general assembly of Jordan Steel (JOST) has approved the BOD's recommendation to distribute a JD0.15 cash dividend to the company's shareholders.

The general assembly of Jordan International Insurance Company (JIJC) has approved the BOD's recommendation to distribute a 10 per cent stock dividend to the company's shareholders. The general assembly of Jerusalem Insurance (JERY) has approved the BOD's recommendation to distribute a JD0.07 cash dividend to the company shareholders.

Jordan's Budget recorded a JD153 million surplus after grants during the first two months of the current year. Public Revenue has increased 2.9 per cent while expenses decreased 17.6 per cent compared to the same period of 2009.

According to the monthly report issued by the Ministry of Finance, net external and internal Public debt decreased by 4.6 per cent or JD19 million during January 2010 compared to the end of 2009.

Total Credit Facilities extended by licensed banks to individuals decreased by 3.6 per cent or JD120.9 million during February 2010 compared to the end of 2009. Total Credit Facilities extended to all sectors of the economy increased by 0.7 per cent during February 2010 compared to the end of 2009.

According to data issued by the Department of Lands and Survey, real estate trading in Jordan reached JD1.129 billion by the end of March 2010 recording an increase of 20 per cent compared to the same period last year.

Disclaimer: The above information and opinions have been compiled in good faith from sources believed to be reliable, but Capital Investments makes no warranty as to the truth and accuracy of the information contained herein. All opinions expressed are not to be regarded as investment advice, and are only for informative purposes. Therefore, Capital Investments accepts no liability whatsoever for any loss of any kind arising out of the use of all or any part of this report.


  MENA News Headlines
Apr 16 2014Saudi oil exports reach USD77 b in Q1 ,MENAFN
(MENAFN) Saudi exports of crude oil reached over 715.72 million barrels in the first three months of the current year, according to Arab News. The amount of oil exports of the kingdom was ...

Apr 16 2014Saudi Electricity Company to launch 17 projects ,MENAFN
(MENAFN) Saudi Electricity Company plans 17 new projects across the kingdom to meet the growing demand on energy and electricity, according to Arab News. The projects are estimated at as much as ...

Apr 16 2014Erotic art offers glimpse of China's 'lost' sexual philosophy ,AFP
(MENAFN - AFP) Ancient paintings of fornicating Chinese couples and phalluses made of stone are among items that Dutch art collector Ferdinand Bertholet hopes will help China reconnect with its ...

Apr 16 2014Cash-rich global firms face calls to crack open war chests ,AFP
(MENAFN - AFP) Impatient shareholders are calling on the world's top firms to start spending some of the eye-popping $2.8 trillion in cash built up since the financial crisis, as analysts warn that ...

Apr 16 2014Russian sanctions would destroy Cyprus economy FM ,AFP
(MENAFN - AFP) Economic sanctions by Europe against Russia "would destroy Cyprus's economy," Nicosia's foreign minister Ioannis Kasoulides said in a German newspaper interview published ...

Apr 16 2014Supermarket Tesco announces annual net profit of £974m ,AFP
(MENAFN - AFP) Supermarket group Tesco, Britain's biggest retailer, on Wednesday announced a massive jump in annual net profits, but its underlying performance showed a fall. Tesco said profit ...

Apr 16 2014Chinese, Russian FMs discuss Ukraine ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Chinese Foreign Minister Wang Yi and his Russian counterpart Sergei Lavrov called for the interests of all parties in the in Ukraine's crisis to be respected, ...

Apr 16 2014Kuwait- GIC chief participates in ABANA Summit panel discussions ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Shafic Ali, head of the Principal Investments Group at Gulf Investment Corporation (GIC) late Tuesday participated in a panel discussion on (Emerging Trends in ...

Apr 16 2014Two people dead, 107 missing in S. Korea sunken ferry ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) A passenger ship carrying more than 470 people, mostly high school students, sank off South Korea's southern coast on Wednesday, leaving at least two people dead ...

Apr 16 2014Today in Kuwait's history ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) 1961 -- First edition of "Al-Rai Al-Aam" newspaper hit the stands. 1962 -- Kuwait joined the United Nations (UN) Commission on Narcotic Drugs. 1972 -- The Amir ...

Apr 16 2014EU voices concern over increase of terrorist attacks in Nigeria ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) EU High Representative for foreign affairs and security policy Catherine Ashton late Tuesday "strongly condemned" the abduction of more than 100 school girls in ...

Apr 16 2014Reporters Without Borders says three more pressmen killed in Syria ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Three more journalists have been killed by gunfire in the Syrian town of Maaloula, north of the capital Damascus, press freedom organisation Reporters Without ...

Apr 16 2014Afghanistan- Security directorate opens ,The Peninsula
(MENAFN - The Peninsula) Afghan National Army soldiers and their Nato counterparts attend the opening ceremony of National Directorate of Security funded by the US in Lashkar Gah, Helmand province, ...

Apr 16 2014India- Varun has betrayed the Gandhi family, says Priyanka ,The Peninsula
(MENAFN - The Peninsula) Priyanka Gandhi Vadra yesterday slammed estranged cousin Varun Gandhi for the second time in three days, criticising him for siding with the BJP, and "betraying the ...

Apr 16 2014India- Campaigning ends for sixth phase polling ,The Peninsula
(MENAFN - The Peninsula) Campaigning came to an end yesterday for the sixth phase of general elections that will decide the fate of 122 Lok Sabha seats across 10 states, including West Bengal and ...

Apr 16 2014India- Fire escape ,The Peninsula
(MENAFN - The Peninsula) Afirefighter wearing a fire suit walks through a wall of flames during a demonstration of their skills for Fire Safety Week in Bhubaneswar yesterday. Fire Safety Week runs ...

Apr 16 2014India- Modi attacks Rahul over 'toffee model', regrets targeting PM ,The Peninsula
(MENAFN - The Peninsula) "In such a big election, first they spoke of balloons and now toffees... If he gets a toffee, his day is made. But in my childhood, I never even knew what a toffee was. I ...

Apr 16 2014UN warns Nepal over civil war crime amnesty ,The Peninsula
(MENAFN - The Peninsula) Nepal would weaken the foundations of "genuine and lasting" peace after a decade-long civil war if it gave amnesties for serious crimes committed during the conflict, the top ...

Apr 16 2014Japan- Lunar eclipse ,The Peninsula
(MENAFN - The Peninsula) Partial lunar eclipse is seen atop an antenna on the roof of a high-rise building in Tokyo yesterday. ...

Apr 16 2014South Africa gears up for polls ,The Peninsula
(MENAFN - The Peninsula) Unemployed South African men look at an election campaign poster for opposition party Inkatha Freedom Party in Cape Town yesterday. South Africa is to hold its fourth general ...





Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Investment Game
Economic Calendar
Financial Glossary

Portfolio Tracker


Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help