Despite rise, apprehension grips ASE over blue chips’ Q1 results

Amman Stock Exchange
AMMAN — The general price index of shares listed in the Amman Stock Exchange (ASE) rose on Monday by 0.15 percent, with the session closing at 1,782.66 points.اضافة اعلان

Trading value for Monday reached JD5.6 million, with 6.2 million shares traded through 3,096 transactions.

The shares of 88 companies were traded, the shares prices of 32 companies rose, and the shares prices of 35 declined.

At the sector level, the services index increased by 0.85 percent, the industrial index increased by 0.20 percent, and the financial index decreased by 0.19 percent.

Housing Bank Group for Trade and Finance declared a rise in its net profit in the first quarter of 2021, compared to its performance during the same period last year, with net profits standing at JD25.4 million after taxes and 53-percent appropriations.

In a press statement on Monday, the group said that it continues its adopted prudent measures, especially in light of the current pandemic, as appropriations for lending losses for the first quarter of the year amounted to JD12.6 million.

During the first quarter, the banking group was able to sustain a strong financial performance on all fronts, despite the global drop of interest rates, as well as the decline of non-interest revenues from the group’s key markets, due to the repercussions of the COVID-19 pandemic.

On a different front, the ramifications of the pandemic are still ongoing, causing tourism income to drop 83 percent during the first two months of the year, compared to the same period last year.

Tourism income during the first two months of the year stood at JD110.6 million, compared to some JD202.3 million during the same period last year, with the decline of estimated at JD91.7 million.

These figures were announced in data issued by the Central Bank of Jordan, clarifying the extent of decline in tourism income due to the COVID-19 pandemic, which had an impact on all economic sectors in general, and on the various tourism businesses in particular, with the sector still feeling the crunch today.

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