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

ASE index & trading volume records increasing last week  Join our daily free Newsletter

MENAFN - Jordan Times - 12/09/2004

No. of Ratings : 0
Add to Mixx!


 


The Amman Stock Exchange (ASE) index and trading volume increased last week amid active demand on selected banking and industrial shares. Although profit-taking activities took place on a small-scale taking, the ASE index rose by 1.5 per cent to 2979.0 plus points. The market capitalisation for the week stood at JD9.26 billion.
In the banking sector, shares of Jordan National Bank (JNB) and Jordan Islamic Bank (JIB) underwent active trading during the week with volumes reaching JD6.4 million and JD7.4 million respectively amid expectations that the banks will achieve higher income from operations.

JNB's share finished the weekly session at JD2.17, an increase of 5.9 per cent whereas JIB's share price closed at JD2.23, realising an increase of 8.8 per cent from the level of the previous week.

Shares of The Housing Bank for Trade & Finance closed at JD6.41, a rise of 9.6 per cent.

In the services sector, Jordan Electric Power received the approval of the Ministry of Industry and Trade to increase its paid up capital by JD10 million to JD50 million through the capitalisation of retained earnings or the voluntary reserves or both.

Midyear results of the Specialised Investment Compound (SIC) revealed a year-on-year increase in net profit before tax by 83.6 per cent to JD1.5 million. SIC announced the purchase of 404,950 shares in Machinery Equip. Ren. & Maintenance (MERM). Consequently, SIC's stake in MERM's paid up capital currently stands at 80.99 per cent.

In the industrial sector, Jordan Cement Factories Company (JCFC) raised the prices of cement products by JD3 per tonne citing an increase in the company's cost of production due to its soaring energy bill. JCFC's recent decision to raise prices faced severe opposition from local traders and contractors prompting the Ministry of Industry and Trade to ask the company to withdraw this decision. JCFC is still in dispute with the government over the use of petcoke as a cheaper source of energy than the heavy fuel oil that is currently used in the production process.

Arab Potash Company (APC) arrived at an arbitration settlement with the contractor and designer of Dike19 that collapsed in March 2000. The British company will compensate APc for an amount of 13 million.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

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

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

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