Ahli Capital Markets & Investment Group Weekly ASE Market Performance Report

Transcription

1 Ahli Capital Markets & Investment Group Weekly ASE Market Performance Report (2nd 5th)January 2012 In This Week s Issue: A weak start marks the first week of

2 Weekly Market Report (2nd 5th)January Amman Stock Exchange (ASE) A weak start marks the first week of 2012 The ASE general index kick started the first trading session in 2012 increasing by 0.37% only to retract during the remaining three sessions of the four-day trading week thus closing at points and declining by 0.64% compared to points closing that marked the end of Meanwhile, trading value (excluding block trades) witnessed a gradual increase during the week, rising from JD4.4 million to JD7.4 million, while a block trader involving the shares of Cairo Amman Bank (CABK) valued at over JD6 million carried out during the opening session of 2012 boosted the trading value to JD10.8 million. On a different level, ASE s general index remains to face a resistance barrier around the 2000 points level; as the index touched the mentioned level during three different sessions since November 2011, however failed to penetrate it in each of the attempts. Moreover, the average daily trading value stood at JD6 million during the week, while the index for the financial sector declined by 0.68% in parallel to a 0.21% and 0.46% decline recorded by the services and industrial sectors indexes respectively. Most Active Companies Company Symbol Closing price Value (JD) Union Investment Corporation UINV ,554,207 Methaq Real Estate Investment MEET ,425,272 The Housing Bank For Trade & Finance THBK 8 1,188,134 Index Performance Index Closing Previous %Ch. ASE Index 1, , % Top ASE Gainers Top ASE Losers Company Symbol Close Chg. Company Symbol Close %Chg. Alentkaeya For Investment & Real Estate Development ENTK % Delta Insurance DICL % Ubour Logistic Services TRUK % United Arab Investors UAIC % Arab Jordanian Insurance Group ARGR % South Electronics SECO % Darkom Investment DRKM % Darwish Al- Khalili & Sons DKHS % 2 2

3 Corporate News (1 of 2): Arab Jordanian Insurance Group (ARGR): The group announced it has acquired the license to carry out insurance businesses in accordance to the decision taken by the Insurance Commission on 3/1/2012. Arab Union International Insurance (AIUI): The International Arab Union for Commercial Centers Company wholly owned by Arab Union International Insurance announced the purchase of 7,900 s.q.m. land property valued at JD1.3 million and located in the area of Abdoun with a granted residential building license from Al Mourouj Al khadra for Housing which ownership is equally divided between Arab Union International Insurance and Al Sakhra Housing Company. Falcon for Investments & Financial Services (FIFS): The Jordanian Securities Commission approved on 19/12/2011 covering the company s JD1.5 million unsubscribed capital increase shares (at nominal value or 90% of its market price as of 29/12/2011 whichever is higher) through subscribing the shares to strategic partners. Sector Representative Index Sector Contribution Financial -0.68% 70.20% Service -0.21% 19.86% Industry -0.46% 9.94% Weekly Indicators Total Weekly Traded Value -32.2% 24,496,866 Number of Shares Traded % 36,136,230 Corporate News (2 of 2): Transport & Investment Barter (NAQL): The company announced gaining initial approval of a tender to provide the Ministry of Industry and Trade with cargo transportation from Aqaba into Jordan from 7/1/2012 to 31/12/2012 while the tender s is estimated at a value of JD17 million. The Industrial Commercial & Agricultural (ICAG): The company s BOD decided to hold the company s extraordinary general assembly meeting on 14/1/2012 in order to elect a new BOD and amend the company s letter of incorporation to add an extra item concerning the contracting in accordance to Islamic Compliance. Ubour Logistic Services (TRUK): The Company announced not having any new substantial information which might have caused the increase in its stocks price. 3 3

4 Economic & Financial News: - Unemployment rate increased to 12.9% during 2011 compared to 12.5% recorded during 2010 according to the latest reports issued by the Department of Statistics as male unemployment reached 10.7% and female unemployment reached 18.3% for the first 3 quarters of Moreover, high unemployment rates were recorded among university graduates reaching 15.5% in comparison to other educational classifications. - The Ministry of Industry and Trade finalized a list of 280 development projects aimed to pro vide 5637 jobs with a cost of JD25 million out of JD50 million governorates development fund. Activity Summary Sector volume %Chg Contribution value (JD) %Chg. Contribution Transactions %Chg. Contribution Financial 26,545, % 73.46% 17,197, % 70.20% 10, % 63.85% Services 6,147, % 17.01% 4,865, % 19.86% 3, % 20.49% Industry 3,442, % 9.53% 2,434, % 9.94% 2, % 15.66% Total Market 36,136, % 24,496, % 15, % Block Trade Bulletin Quantity Value (JD) Transactions Total Block Trades (shares) 2,600,000 6,934,000 3 Bonds Right Issue Block Trades Breakdown Quantity Volume (JD) Transactions MEET 600, ,000 1 CABK 2,000,000 6,340, Jordan Ahli Bank Ahli Capital Markets & Investment Group. For any further interpretations, or to obtain detailed, additional, advanced and customized data, and/or analysis on a timely basis contact AhliBank via the contact list mentioned on the cover page. Sustain your vision, enhance your foresight and learn more through appropriate assessments sponsored by the Jordan Ahsli Bank (JONB). Disclaimer : The trading and financial related data contained in this market performance report for Amman Stock Exchange (ASE) has been obtained from sources considered by Jordan Ahli Bank to be reliable in all material respects. However, the accuracy, fairness and completeness thereof are not guaranteed by Jordan Ahli Bank and its third-party suppliers shall have no liability for errors or omissions with respect to the service or its delivery, regardless of the cause or source of such error or omission. This is not an invitation to buy or sell stocks traded in Amman Stock Exchange. The Purpose of this report is to provide information and analysis related to Amman Stock Exchange and assists investors to obtain information to support their decisions. The reader should not make any investment decision solely based on the information contained in this report and he/she should consult with his/her investment advisor before investing. In addition, technical review included in this report may not suit intra-day traders since closing prices form the base of the analysis and not a real-time or intra-day market quotation. This report is a copyright of Jordan Ahli Bank and should not be reproduced or redistributed partially or fully in away shape or manner without the express written consent of the Jordan Ahli Bank. 4 4

5 Ahli Capital Markets & Investment Group Ahli Capital Markets & Investments Group Lina N. Bakhit Deputy C.E.O./ Deputy G.M Tel.: Basel Khraisheh Tel.: /2 / Research & Studies Department Rabe Al-Bataineh Researchdept@ahlibank.com.jo Tel.: Jamil Al-Turk Jamil.al-turk@ahlibank.com.jo Corporate Finance Majed.Hejab@ahlibank.com.jo Ahli Brokerage Company info@ahlibrokerage.com 5 5