Market awaiting Q1 results of listed companies

(Amman Stock Exchange)
AMMAN — Mining shares led the Amman Stock Exchange (ASE) to rise on Monday by 0.31 percent, with the general index closing at 1,778.93 points, as traders were awaiting the first quarter results of listed companies.اضافة اعلان

For the third day in a row, the Jordan Phosphate Mines Company bounced back to the highest levels permitted in a single trading session, following profit reaping in previous sessions, with the share price closing at JD8.38. 

The share of the Arab Potash Company also rose by 1.34 percent, to close at JD21.99 per share. The mining shares are blue chips that affect the general index of the stock market. 

Per custom in Ramadan, some investors refrained from further investments in ASE. As a consequence, total trading on Monday stood at JD5.4 million, with 5.6 million shares traded through 2,716 contracts. 

Banking shares also bounced back after banks’ general assemblies approved boards’ recommendations and cash dividends. In this context, the total customer deposits in banks in the Jordanian dinar rose in the first two months of this year by 1.7 percent to amount to JD28.71 billion, compared with JD28.23 billion at the end of last year, according to figures released by the Central Bank of Jordan. 

By the end of February, this type of deposits constituted 77 per cent of the total deposits, which amounted to JD37.3 billion.

Comparing the share prices of the 88 companies traded Monday, 42 recorded a rise and 22 a drop in value. 

At the sector level, the industrial index increased by 1.88 percent, the services index went down by 0.80 percent, and the financial index rose by 0.38 percent.

Real estate companies listed in ASE are expected to be influenced by figures released by the Department of Statistics, which reported that the total area of licensed buildings increased in the first two months by 35 percent, compared to the same period last year. 

In the same time span, 4,385 buildings were licensed, compared with 1,763, recording a 38.1 percent rise. 

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