Jordan Times
Wednesday, December 22, 1999
Bourse bloc deals send volume higher
AMMAN (R) — Amman's stock market eased slightly on Tuesday in trade dominated by a large bloc deal in one sole electrical firm related to year-end accounts, dealers said.
The Amman Stock Exchange (ASE) index shed a marginal 0.05 per cent to close at 160.96 points in turnover of JD1.3 million, mostly a bloc deal in electronics assembly manufacturer of Korean brand names Middle East Complex.
The deal worth a total of JD857,051 dominated otherwise dull activity focused on a handful of traditional blue-chip favourites.
There were also 15 locally driven transactions worth a total of JD68,804 in Jordan Electric Power, the second heaviest traded stock. The share shed JD0.01 to close at JD1.80.
Heavy weight Arab Bank closed JD0.50 lower to close at JD192.25 in a minimal of transactions worth just JD42,295.
Jordan Phosphate Mines again saw some local trade, unchanged at JD2.43 after shares worth only JD17,496 changed hands.
Trading in the bourse has been quiet over the last few weeks with volume propped up mainly by portfolio and share ownership adjustments among existing shareholders in year-end window dressing, dealers said.
Another industrial, drug manufacturer Arab Pharmaceutical Manufactur-ing, shed JD0.01 to close at JD2.51 in deals worth JD18,376.