Jordan Times
Sunday, December 4, 2005
Weekly Analysis
Amman Stock Exchange
AMMAN — Increased selling pressure and a drop in
the share price of heavyweight Arab Bank brought down the Amman Stock Exchange
(ASE) index below the 9000-point level during the first three days of last week.
However, the index recovered part of its losses closing on Thursday at 9090.0
points, a fall of 1.38 per cent.
The market capitalisation stood at JD29.25 billion.
Jordan Securities Commission approved increases in the authorised capitals of
several companies including Export & Finance Bank, Bindar for Trade &
Investment, Arab East for Real Estate Investments and Middle East Complex for
which the ex-dividend date is 9/12/2005.
Total trading volume declined by 12.4 per cent to JD356.4 million, including the
execution of five block deals on the shares of four different companies
amounting to JD3.99 million.
Overall, advancers outnumbered decliners as 77 companies out of 151 advanced,
while 68 companies declined.
Arab Bank participated in a $760 million syndicated loan with several other
regional and international banks to fund a strategic project for producing
linear polyethylene in Qatar.
Cairo Amman Bank (CAB) reaped JD3.45 million in profit during November by
selling part of its holdings in Palestinian Telecommunications Co. and Palestine
Development and Investments Co. The share price of CAB increased by 2.05 per
cent to close atJD12.45.
Jordan International Insurance (JII) declared intentions to hold a five per cent
stake in the Industrial Development Bank amid positive expectations for the
bank's future outlook. The share price of JII closed at JD3.24, a weekly rise of
1.89 per cent.
Ihdathiat Real Estate Co. will offer 1.738 million shares to the public, adding
to the JD1.262 million capital pumped in by the founding shareholders.
Real Estate Investment's share price reached new high of JD2.68 before closing
at JD2.56, a weekly increase of 8.9 per cent.