Amman Stock Exchange Daily Report - 10 May

Transcription

1. Amman Stock Exchange 10-May-18 AMMAN SE GENERAL INDEX 2 ,300 Close % Change 2,137.62 -0.98% Year-to-Date (YTD) 0.51% Daily Volume (shares) 5,630,946 Daily Turnover (JOD) 5,882,754 6 MONTHS INDEX PERFORMANCE 2,250 2,200 2,150 2,100 2,050 2,000 1,950 Best Performing Companies ARAB FINANCIAL INVEST CO BANK AL ETIHAD LAFARGE JORDAN CEMENT NUTRI DAR UNION LAND DEVELOPMENT CORP Worst Performing Companies % Change 6.77 6.33 4.82 3.70 3.11 Top Traded Companies by Volume (Shares) SABA'EK INVESTMENT CAIRO AMMAN BANK SURA DEVELOPMENT AND INVESTM INTERMEDIATE PETROCHEMICHALS UNION INVESTMENT CORP * Source: Bloomberg 1,260,600 423,377 358,625 281,422 246,138 PHILADELPHIA INTL EDUCATION UNITED IRON & STEEL MANUFACT JORDANIAN EXPATRIATES INV HL OFFTEC HOLDING GROUP PLC ARAB UNION- INTL INSURANCE % Change (3.75) (3.77) (3.85) (4.00) (4.03) Top Traded Companies by Value (JOD) SABA'EK INVESTMENT CAIRO AMMAN BANK ARAB BANK PLC UNION LAND DEVELOPMENT CORP UNION INVESTMENT CORP 811,574 615,165 335,027 331,671 289,976
2. Macroeconomic & Corporate News Jordan economic growth 'slightly on rise' this year — EBRD Jordan's economy is expected to witness a slight increase in 2018, reaching 2.5 per cent against the backdrop of an improved outlook for the tourism sector and higher revenues from the sale of phosphates and other mining products, a report by the European Bank for Reconstruction and Development (EBRD) showed.Jordan's economic growth is forecast to reach 2.7 per cent in 2019, after 2 per cent in each of the previous two years, the EBRD said in a report launched Wednesday during the bank's 27th annual meeting and business forum at the Dead Sea.“Jordan’s economy is expected to see a modest increase in the pace of growth this year, supported by stronger private consumption driven by a rising population of refugees and the implementation of structural reforms,” the EBRD’s Regional Economic Prospects report stated, highlighting a positive impact from the government’s programme to offer citizenship to foreign investors under certain conditions, an improved global outlook and higher confidence stemming from fiscal consolidation.“The rate of growth in Jordan remained subdued in 2017 at 2 per cent, below the average of 2.5 per cent recorded between 2010 and 2016, a period when the instability in Iraq and Syria and the large influx of Syrian refugees — estimated at 1.3 million — curbed growth. This is compared to an average growth of 6.3 per cent between 2001 and 2010,” the report indicated. UK to provide JD22m to cut Amman’s solid waste The European Bank for Reconstruction and Development (EBRD) and the United Kingdom are providing a financing package equivalent to JD22 million to the Greater Amman Municipality (GAM) to help improve solid waste operations in the capital and at Al Ghabawi, Amman’s only sanitary landfill facility, which also serves Zarqa and Ruseifa.The EBRD's investment of JD11.1 million is cofinanced by a JD5.3 million grant from the EBRD Shareholder Special Fund and a JD5.5-million grant from the UK's Department for International Development, an EBRD statement said on Wednesday.GAM will use the funds to purchase 75 refuse collection vehicles to improve the city’s solid waste management. Due to the Syrian refugee crisis and the growing population, especially in the capital, waste infrastructure, which the investment is directly addressing, according to the statement. QAIA welcomes first Norwegian Airlines flight Queen Alia International Airport’s (QAIA) network on Tuesday welcomed the first Norwegian Airlines flight to QAIA, marking the start of biweekly flights between Amman and Copenhagen.A welcoming ceremony was held in the presence of officials from (AIG) and the Jordan Tourism Board, an the Airport International Group (AIG) statement said. The step came as part of AIG’s efforts to accommodate a multitude of passenger needs, paving the way for several more Scandinavian destinations, while partnering with one of the largest low-cost carriers globally. * Source: Bloomberg, Jordan Times, Zawya Disclaimer Awraq Investments and its affiliates obtain information from sources they believe to be reliable, but do not warrant its accuracy or fitness for a particular purpose, and disclaim for themselves and their information providers all liability arising from the use. The Information in this publication is provided in good faith for informational purposes only. The information provided is not offered as tax, legal, or investment advice, or an offer to buy or sell securities or otherwise. The information provided in this publication may be displayed and printed for your personal, non-commercial use only. You may not reproduce, re-transmit, distribute, disseminate, sell, publish, broadcast, or circulate the information in any form or media to anyone, without the expressed written consent of Awraq Investments. Awraq Investments is not liable for any loss resulting from any action taken or reliance made by any person on any information or material posted by it. You should make your own inquiries and seek independent advice from relevant industry professionals before acting or relying on any information or material made available to you in this publication. You rely on this information at your own risk. Awraq Investments, its subsidiaries, parent, and/or any connected parties, may act or trade and/or enter into any transaction that maybe inconsistent or disregard any information contained herein.