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October 22 2021 6:26 PM ˚

Mining shares, ASE continue upward trend

Al-Hassa Mine
Al-Hassa Mine (Photo: Jordan Phosphates Mines Company)
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AMMAN — In line with previous sessions, the mining sector stocks along with stocks from the industry sector went up on Monday, pushing the general stock index of the Amman Stock Exchange (ASE) up 0.098 percent to close at 2,098.27 points.اضافة اعلان

The Arab Potash Company’s share rose to the highest permitted limit on Monday, at a price of JD29.5 per share, as for the Jordan Phosphate Mining Company, it closed at JD17.67, and the Jordanian Petroleum Refinery Company went up by 5 percent, its highest permitted rise, closing at JD3.67 per share.

Figures from the ASE indicate that there is a 2.94 percent increase in the industry sector, and 1.79 percent for the service sector, however, the financial sector dropped by 0.02 percent.

Globally, commodities, minerals and oil prices went up, as in the US global market, the price of crude oil reached its highest level in three years, as for brent crude, its highest in the last two years, due to high global demand for fuel in the first half of the current year, and rising probabilities for a shift in the market towards supply deficit.

According to the Wall Street Journal, American crude increased by 1.25 percent to reach $71.67, the highest since October 2018, up from $70.79 at the beginning of the session, while its lowest price during the session was $70.69. Brent crude went up by 1.3 percent, to reach $73.62 per barrel, the highest since April 2019, after the opening price was $72.70, with the lowest registered rate at $72.60.   

Bank stocks went down on the contrary of the last period, during which they lead the board.

The government announced in May 26 a gradual reopening plan to reach a “safe summer”, through three stages, the first started this month, the second in July 1, and the third is slated for September, which should positively reflect on the economy, which suffered a 1.9 percent contraction due to lockdowns.

The value of trade reached JD13.9 million, with 7.6 million shares traded through 5,404 transactions.

Comparing with the closing prices of Sunday’s session, out of the 122 traded companies on Monday 37 companies witnessed an increase in the value of their stocks, while 45 showed a decrease.

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