Amman Stock Exchange Daily Report - 6 July

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1. Amman Stock Exchange 6-Jul-20 AMMAN SE GENERAL INDEX 1 ,950 Close % Change Year-to-Date (YTD) 1,583.23 0.44% -12.78% Daily Volume (shares) 2,533,466 Daily Turnover (JOD) 2,894,256 6 MONTHS INDEX PERFORMANCE 1,900 1,850 1,800 1,750 1,700 1,650 1,600 1,550 Best Performing Companies JORDAN STEEL Worst Performing Companies % Change 5.00 JORDAN DECAPOLIS PROPERTIES % Change (3.33) BARTER CO FOR INVESTMENT & T 4.76 ARAB PHOENIX HOLDINGS (3.57) AMAD INVESTMENT & REAL ESTAT 4.17 COMPREHENSIVE LAND DEVELOPME (3.70) AL-TAJAMOUAT FOR CATERING HS 4.00 ALIA THE ROYAL JORDANIAN AIR (3.70) JORDAN PIPES MANUFACTURING 3.90 AD-DULAYL INDUSTRIAL PARK CO (4.17) Top Traded Companies by Volume (Shares) Top Traded Companies by Value (JOD) ARAB EAST INVESTMENT 196,425 ARAB BANK PLC 710,777 UNION INVESTMENT CORP 188,520 JORDAN ISLAMIC BANK 423,403 ARAB BANK PLC 177,390 JORDAN PETROLEUM REFINERY CO 224,258 JORDAN ISLAMIC BANK 164,988 UNION INVESTMENT CORP 202,602 JORDAN AHLI BANK 133,205 JORDAN PHOSPHATE MINES 174,665 * Source: Bloomberg
2. Macroeconomic & Corporate News King says Jordan has potential to become regional industrial hub His Majesty King Abdullah on Sunday urged focusing on the pharmaceutical, medical supplies, and food processing industries, while expanding to other strategic, value-added sectors. Attending part of a follow-up meeting at Al Husseiniya Palace for the steering committee on the pharmaceutical, medical supplies, and food processing industries, the King said Jordan has the potential to become a regional hub in these sectors, according to a Royal Court statement. During the meeting, attended by senior officials and a number of journalists, His Majesty stressed the need for laws to facilitate work in these sectors, calling for increasing exports and promoting national industries abroad. The steering committee was formed by Royal directives in mid-April, with members from the public and private sectors. The King listened to briefings by the heads of the panel’s three sub-committees, covering progress in implementing previous plans, as well as highlighting plans for projects currently under implementation, the statement said. Jordanian Cement Factories Company files for insolvency The Jordanian Cement Factories Company said on Sunday that it was filing for insolvency, citing adverse financial conditions, worsening as a result of the novel coronavirus, as the reasons for the move. Insolvency is a state of financial distress in which someone or a company is unable to pay its bills. In a statement received by The Jordan Times on Sunday, the company said difficult financial conditions faced by the Jordanian Cement Factories Company, and which it said were exacerbated by the spread of the coronavirus, have led to a partial stoppage of its operational activities, in terms of sales, collection and production operations.Consequently, the company has become unable to fulfill its obligations towards its employees, retirees and creditors, the statement added. The company’s management has worked as part of a road map to restructure the company on developing plans to increase sales, production and operational efficiency; controlling costs, thus limiting the increase in burdens and future obligations, and thereby increasing liquidity. However, “the negative economic repercussions of the pandemic have impeded this progress”, according to the statement. China and Arab states must work together now more than ever China is looking forward to cooperating with Jordan to deepen the China-Arab strategic partnership and "build a community with a shared future", Chinese Ambassador to Jordan Pan Weifang said on Sunday. Highlighting the Kingdom's anti-COVID-19 efforts, the envoy said that the Jordanian experience "deserves to be shared", noting that the Kingdom has demonstrated the "best control" over the pandemic in the Arab World. The ambassador's remarks prefaced the 9th session of the Ministerial Meeting of the ArabChina States Cooperation Forum, scheduled to be held virtually on Monday under joint Jordanian-Chinese presidency, the Jordan News Agency, Petra, reported. Highlighting Arab countries' solidarity with China to confront the virus, Weifang stressed that the Arab world and China are "closely linked by their destinies". China has provided medical supplies to Jordan, Egypt, Tunisia, Qatar and 20 Arab countries, in addition to donating a total of 8.4 million masks, 1.1 million test kits and around 300,000 pieces of protective clothing to Arab countries, he added. * 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.
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