AMMAN — Mining sector stocks led the
Amman Stock Exchange (ASE) on
Sunday with a 0.08 percent increase, to close at 2,078 points, amid a decline
in the banking sector.
اضافة اعلان
The mining stocks kept on rising yesterday when the Arab Potash
Company’s stock closed at its highest limit possible JD28.1 per share. The same
happened with the Jordan Phosphate Mines Company stocks, which topped out at a
JD16.88 per share, in light of an increasing demand on commodity prices and global
services.
There are signs that a wave of inflation might hit the Kingdom due to
increases in imports’ prices, especially food which is valued at $4 billion
annually.
The food sector constitutes 30 percent of the commerce sector, with more
than 50 large and small establishments across the country, employing nearly 250,000
workers.
Prices in the United States are increasing; thus, inflation will be
among the most highlighted aspects of a US Federal Reserve meeting on Tuesday
and Wednesday since the prices of vehicles, houses, fuel, clothes, and other
commodities has been rising in the US.
A report
issued by the International Energy Agency predicts that demand for oil will
exceed pre-COVID-19 rates. Traders on Wall Street are betting that the price of
a barrel of oil will reach $100 by the end of the year.
The ASE board of directors declared in its latest meeting that it would reconsider
pre-
COVID-19 trading limits and times, starting from Tuesday, June 15.
The value of trades on Sunday reached JD15.1 million, traded through
11.2 million stocks.
Twenty-five companies showed an increase in the price of their stocks,
while 42 companies’ stock prices fell.
At the sector
level, the industry sector increased by 2.88 percent, the financial sector
decreased by 0.67 percent, and the service sector decreased by 0.06 percent.
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