Mining shares lead ASE to new gains

(Amman Stock Exchange)
AMMAN — Mining shares on Monday led a 0.57 rise on the Amman Stock Exchange (ASE), closing at 1,852 points.اضافة اعلان

Jordan Phosphate Mines Company (JPMC) shares rose to their highest permitted level, closing at a price of JD11.59 per share, after the company announced a decision by the Court of Cassation, taken on April 21, against Manajem Mining Development Company.

According to JPMC’s announcement, the court upheld the decision of the appeals court and the court of first instance, rejecting Manajem’s claim of JD91.4 million against JPMC.

The company said that “the decision is deemed final and conclusive, under which Manajem Mining Development Company lost its claim against JPMC,” which reflected positively on JPMC’s trading.

Meanwhile, the Arab Potash Company’s shares also rose to their highest permitted trading level, closing at a price of JD26.15 per share.

Trading value for Monday reached JD8.8 million, with 6.7 million shares traded through 4,193 transactions.

The shares of 95 companies were traded Monday, with the share prices of 31 companies rising, and the shares prices of 32 declining.

At the sector level, the industrial index increased by 2.56 percent, the services index increased by 0.28 percent, and the financial index increased by 0.05 percent.

Since the beginning of the year, the ASE index has recorded gains reaching 14 percent.

Meanwhile, the value of shares purchased by non-Jordanians in April amounted to JD9.52 million, 90.3 percent of which were purchased by Arab investors.

The value of shares sold by non-Jordanians was JD9.48 million, 74.7 percent of which were sold by Arab investors.

During April, net non-Jordanian investments showed a positive balance of JD40,000.

By the end of April, shares owned by non-Jordanians represented 50.3 percent of ASE capitalization, 31.5 percent of which are owned by Arab investors, and 18.8 percent by non- Arabs.

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