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ASE falls as several heavyweights trade ex-divided
- Jordanian stocks lost around 34 points or 1.53% last week to closed Thursday’s session at 2185.3 points, amid lower volumes which fell by around 27% WoW, mainly on the back of falling share prices of a number of heavyweights including The Housing Bank for Trade & Finance (THBK, -3.4%), Jordan Islamic Bank (JOIB, -4.8%), and Jordan Electric Power (JOEP, -3.0%) as they traded ex-dividend.
- On the sectoral front, all sector indices closed the week in red except for the insurance sector (+0.05%) with the diversified financial services sector recording the biggest loss of 3.92% WTD.
- Industrial blue-chips, Arab Potash (APOT) and Al-Eqbal Investment Company (EICO), helped partly offset broader market losses for the week after advancing by 6.0% and 1.5% respectively.
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