Ahli Capital Markets & Investment Group Weekly ASE Market Performance Report

Transcription

1 Ahli Capital Markets & Investment Group Weekly ASE Market Performance Report (29th January 2nd February)2012 In This Week s Issue: The industrial sector leads the first series of inclines during

2 Weekly Market Report (29th January 2nd February)2012. Amman Stock Exchange (ASE) The industrial sector leads the first series of inclines during 2012 ASE s general index managed to close within the green zone during the week s first four trading sessions, however nudging up by a mere 0.4% as it closed at 1945 points, adding 7 points to last week s closing. This was on the back of the increase witnessed by the industrial sector which has been elevated by 1.17% followed by a 0.15% incline recorded by the financial sector while the services sector declined by 0.22%. On a different note, traders on the ASE floor are on the watch out awaiting news regarding the companies financial results for the year ended 31/12/2011. Meanwhile, the ASE has witnessed a relatively increased activity following the disclosure of 2011 financial results related to a number of listed companies, while Arab Bank s decision to purchase treasury stocks has had positive echoes on the ASE floor, further inducing an incline of 1.42% for ARBK s stock, which has accounted for 12% of the ASE s total weekly trading value. ARBK s share price has recently witnessed a series of declines as it dropped to JD7/share during the previous week s trading, however, the mentioned price level has proved to be a solid support level that has contributed to avoiding further declines in the stock s price. Most Active Companies Company Symbol Closing price Value (JD) Arab Bank ARBK ,428,632 Union Land Development ULDC ,670,043 Darwish Al- Khalili & Sons DKHS ,868,425 Index Performance Index Closing Previous %Ch. ASE Index 1, , % Top ASE Gainers Top ASE Losers Company Symbol Close Chg. Company Symbol Close %Chg. Jordan Industries & Match INMJ % General Lightweight Concrete Industries GLCI % Siniora Food Industries SNRA % Falcon For Investment & Financial Services FIFS % Union Advanced Industries UADI % Arab Real Estate Development ARED % Middle East Diversified Investment MEDI % The Investors & Eastern Arab For Industrial & Real Estate Investments IEAI % 2 2

3 Corporate News (1 of 2): Al-Dawliyah for Hotels & Malls (MALL): In a recommendation to the company s general assembly, the company s BOD announced it will suggest the distribution of 7% cash dividends to the company s shareholders. Cairo Amman Bank (CABK): The Bank announced that Capital Intelligence issued its annual report which kept the bank s short and long term foreign currency classification at B and BB which also represent Jordan s rating while it classified the banks financial position at BBB. Societe Generale De Banqe Jordanie (SGBJ): The Jordanian Securities Commission approved on 24/1/2012 extending the time period for completing the procedures related to issuing the bank s capital increase shares amounting to JD50 million shares until 15/2/2012, while considering unlisted shares post the mentioned period to be unsubscribed shares that require the commission s approval for listing. Winter Valley Tourism Investment (WIVA): The Company decided to hold its general assembly s extraordinary meeting on 16/2/2012 in order to discuss increasing the company s capital by JD4.4 million shares through private placement subscription with an issuing price of JD1 per share and an issue discount of JD0.32 per share, so as to provide JD3 million liquidity to meet financial obligations in light of the approaching date for the opening of the new hotel. General Lightweight Concrete Industries (GLCI): The Company announced freezing all production lines as its preliminary financials for year ended 31/12/2011 showed a loss amounting to 69% of the company s capital. Sector Representative Index Sector Contribution Financial 0.15% 65.34% Service -0.22% 23.61% Industry 1.17% 11.05% Weekly Indicators Total Weekly Traded Value 23.4% 36,483,371 Number of Shares Traded 8.80% 46,155,014 Corporate News (2 of 2): Arab Bank (ARBK): The Bank s BOD decided on 26/1/2012 to recommend to the bank>s general assembly during its ordinary meeting expected to commence on 28/3/2012 the purchasing of treasury stocks in accordance to set laws and regulations. Jordan Telecom (JTEL): The Company s BOD decided on 26/1/2012 to recommend to the company>s general assembly during its upcoming meeting the distribution of JD90 million as cash dividend for the company>s shareholders. Al Barakah Takaful (ARAI): The Company BOD decided to recommend to the general assembly during its upcoming meeting on 20/2/2012 the restructuring of its capital through decreasing its authorized capital from JD10 million shares to JD7 million shares whereby both its authorized and paid up capital will be JD7 million shares, then reducing the company s authorized and paid up capital from JD7 million shares to JD4 million shares to write of JD3 million in accumulated losses, while increasing its authorized and paid up capital from JD4 million shares to JD7 million shares to provide JD1.2 million in liquidity. 3 3

4 Economic & Financial News: Statistics issued by the Central Bank of Jordan showed that foreign reserves reached US$10.5 billion by the end of 2011 declining by 14% since end of year 2010 which recorded US$12.2 billion. The World Economic Outlook report issued by The International Monetary Fund depicted a 14% decrease in non-oil commodities during 2012 while also depicting a 1.5% decline in inflation compared to 2.75% recorded by the end of Activity Summary Sector volume %Chg Contribution value (JD) %Chg. Contribution Transactions %Chg. Contribution Financial 28,826, % 62.46% 23,837, % 65.34% 11, % 57.28% Services 12,504, % 27.09% 8,615, % 23.61% 4, % 25.28% Industry 4,824, % 10.45% 4,030, % 11.05% 3, % 17.44% Total Market 46,155, % 36,483, % 19, % Block Trade Bulletin Quantity Value (JD) Transactions Total Block Trades (shares) 3,184,111 5,280,100 2 Bonds Right Issue Block Trades Breakdown Quantity Volume (JD) Transactions BOJX 2,012,000 4,225,200 1 JNTH 1,172,111 1,054, 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