Stillness - Atlas ASE Market Brief Feb 09, 2002

Activity was contained at the Amman Stock Exchange (ASE) as investors were weary of the looming political situation in the region. Consequently, with the exception of a few bloc deals in the banking sector, investors stayed at the sidelines. All in all 1.3 million shares changed hands in deals worth JD1.6 million, as all major indices shed more than 2%. The ASE will be closed from Monday through Thursday due to the Eid Al Adha holiday.

The Industrial Development Bank (INDV) witnessed several bloc deals that involved approximately 0.8 million of its shares. The stock remained unchanged at JD1.05. Similarly, the Bank of Jordan (BOJX) stayed put at JD2.06, however attracting less attention.

The Jordanian Electric Power Co. (JOEP) was the only active stock in the services sector, although it retracted by 1% to JD2.07.

Middle East Complex for Eng. Electronics (MECE) remains a favourite among industrial companies. MECE had 40,550 of its shares change hands as it held on to its JD0.71 position.

Meanwhile, all ASE-listed companies have up to 31st March 2003 to deposite their shares with the Jordan Securities Depository Centre (SDC). Thirteen of the most active listed companies already settle and register through the SDC. However, the conversion schedule has yet to be announced.