21 September 2003
AMMAN. The Amman Stock Exchange (ASE) continued rising last week supported by thin volumes but the rally was shortened by profit-taking. As such, large cap companies were unable to completely recover on Thursday, as represented by the AMI, which retracted almost 0.4 per cent, whereas the ASMI mustered a small advance of 0.05 per cent.
The ASE will be closed on either Wednesday or Thursday, depending on the muslim lunar calender, to mark Al Isra Wal Maraj.
The Arab Bank shocked market participants as it shot through all the way to JD281, assisted by relatively heavy trading. Nevertheless, the upsurge was hard to maintain as Arab Bank shares closed near JD269.
The Industrial Development Bank, another of the banking sector's active stocks, saw approximately three million of its shares change hands as it climbed four per cent to JD1.40.
United Arab Investors (UAI) and Arab East Investment (AEI), both holders of Investors & Eastern Arab for Industrial (IEAI) & Real Estate Investments, oscillated throughout the course of the week as investors added the companies to their monitoring screens. UAI ended the last session unchanged at JD3.05 while AEI rose nine per cent to JD2.63. IEAI, on the other hand, slipped one per cent to close at JD1.99.
Specialised Investment Compounds generated much activity, advancing three per cent to JD3.88 as more than two million of its shares changed hands.
The industrial sector was subdued once again with only Jordan Industrial Resources claiming significant volume as it climbed seven to JD1.11.
AMMAN. The Amman Stock Exchange (ASE) continued rising last week supported by thin volumes but the rally was shortened by profit-taking. As such, large cap companies were unable to completely recover on Thursday, as represented by the AMI, which retracted almost 0.4 per cent, whereas the ASMI mustered a small advance of 0.05 per cent.
The ASE will be closed on either Wednesday or Thursday, depending on the muslim lunar calender, to mark Al Isra Wal Maraj.
The Arab Bank shocked market participants as it shot through all the way to JD281, assisted by relatively heavy trading. Nevertheless, the upsurge was hard to maintain as Arab Bank shares closed near JD269.
The Industrial Development Bank, another of the banking sector's active stocks, saw approximately three million of its shares change hands as it climbed four per cent to JD1.40.
United Arab Investors (UAI) and Arab East Investment (AEI), both holders of Investors & Eastern Arab for Industrial (IEAI) & Real Estate Investments, oscillated throughout the course of the week as investors added the companies to their monitoring screens. UAI ended the last session unchanged at JD3.05 while AEI rose nine per cent to JD2.63. IEAI, on the other hand, slipped one per cent to close at JD1.99.
Specialised Investment Compounds generated much activity, advancing three per cent to JD3.88 as more than two million of its shares changed hands.
The industrial sector was subdued once again with only Jordan Industrial Resources claiming significant volume as it climbed seven to JD1.11.
© Jordan Times 2003
