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MENAFN - Jordan Times - 04/05/2003

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Amman — A wave of confidence prevailed at the Amman Stock Exchange (ASE) last week, as advancers outnumbered decliners by almost two to one. Consequently, the market improved with all sectors advancing.

Approximately 6.95 million shares, worth JD11.75 million, changed hands during the week with the AMI increasing 2.90 per cent, while the ASMI advanced by 2.55 per cent.

The banking sector index moved up 1.52 per cent as the Arab Bank climbed 1.6 per cent to close at JD196.00, while the Housing Bank for Trade & Finance rose 4.7 per cent to JD2.90 in thin volume.

Export and Finance Bank enjoyed a stellar performance with its 10.76 per cent rise to JD1.75. Similarly, Beit Al Mal for Saving & Investment advanced 9.46 per cent to JD2.43.

The services sector climbed 2.37 per cent despite Jordanian Electric Power edging down slightly to JD2.18.

The Unified for Organising Land Transport, on the other hand, scaled 15.58 per cent to close at JD0.89 whereas Jordan Press & Publishing was the biggest advancer for the week climbing 16.74 per cent to close at JD5.16.

The industrial sector, which was responsible for most of the activity, rose 2.80 per cent. Jordan Phosphate Mines topped the trading volume while climbing 10.59 per cent to JD1.88. Arab Potash ranked fourth as it advanced 7.29 per cent to JD4.12. This was due to unconfirmed reports that the privatisation of both companies has picked up pace.

Jordan Steel also had a busy week, ranking second in terms of volume and settling at JD2.09. International Tobacco & Cigarettes, which distributed a JD0.275 per share cash dividend, rose 2.64 per cent to JD3.89.

Dar Al Dawa Development & Investment was heavily traded, advancing 1.93 per cent to close at JD7.41, while Arab Pharmaceutical Manufacturing Co. climbed one per cent to JD 3.72.



 






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