Arab Bank Boosts Amman Bourse
The Amman Stock Exchange (ASE) on Tuesday recorded a major leap towards achieving a new price index level following a strong demand for Arab Bank shares, brokers said.
They were quoted by the Jordan Times as saying that demand for Arab Bank share was recorded from Jordanian and foreign investors following “strong rumors” that the bank will increase its capital through a stock split to its shareholders in the beginning of next year.
The ASE's daily bulletin showed that the 70-share index closed at 158.6 points, up by 1.28 per cent, mainly due to the increase in the Arab Bank share price which rose to JD195 compared to JD189.5 on Monday, the Amman-based paper said.
The Arab Bank share, the bourse's leading blue chip, controls 40 percent of the market capitalization of the ASE.
In early September, the bourse price index exceeded 160 points, the highest such level in over two years, but declined following the Sept. 11 attacks in New York and Washington, the report added – Albawaba.com
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