Ahli bank weekly capital markets newsletter 14th 18th of april 2019
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1) The document provides a weekly market summary and analysis of the Amman Stock Exchange for the period of April 14-18, 2019. It includes performance of market indexes and sectors, most traded companies, and company share prices and trading volumes. 2) Regional news highlights include China's economy holding steady in Q1 2019 and Jordan's tourism revenue increasing 5.2% in Q1 2019 year-over-year. 3) Global news includes the Federal Reserve Bank of Boston president being open to adopting an inflation target range and Germany's public debt expected to fall below the EU ceiling of 60% of GDP in 2019.
Ahli bank weekly capital markets newsletter 14th 18th of april 2019
- 1. المالية والمؤسسات واالستثمارات للخزينة األهلي مجموعة Ahli Treasury, Investments & Financial Institutions Group 1 INVESTMENT استثمار Sector Index Chg. % Index Closing (Points) Financial -0.17% 2,637.61 Services 0.52% 1,276.01 Industrial -1.70% 1,846.99 JOD 15.63 Bn -3.05% -0.51% Market Cap. Cap. % (YTD) Index % (YTD) Ahli Bank Weekly Capital Markets Newsletter During (14th - 18th of April 2019) Jordan Ahli Bank Share Performance During (14th - 18th of April 2019) Closing 1.14 % Chg. 3.64 High 1.14 Low 1.10 JDs 204,330 Shares 182,066 Amman Stock Exchange (ASE) Market Information Jordan Ahli Bank Ownership Structure Closing Change (Points) Chg. % 1,899.14 -7.23 -0.38% Traded Value (JDs) Change (JD’s) Chg. % 20,306,228 958,499 4.95% Traded Volume (Shares) Change (Shares) Chg. % 19,220,782 -795,628 -3.97% ASEIndex Sector Performance Most Traded Companies Company Close Traded Value (JD) Specialized Investment Compounds 1.11 2,786,961 Jordan Phosphate Mines 3.28 2,448,121 Jordan Petroleum Refinery 2.64 2,011,145 Company Specialized Investment Compounds 1.11 2,589,496 Emmar Investments & Real Estate Development 0.19 1,090,510 Alentkaeya For Investment & Real Estate Development 0.48 1,046,197 Most Active Companies Company Symbol Close Chg. % Emmar Investments & Real Estate Development EMAR 0.19 35.71% Societe Generale De Banque - Jordanie SGBJ 1.40 16.67% Specialized Investment Compounds SPIC 1.11 13.27% Kafa`a For Financial & Economical Investments KAFA 0.51 10.87% Top ASE Gainers Top ASE Decliners Weekly Value Traded by Sector / JD Mn ASE - Index (YTD) 52 Gainers 56 Decliners 34 Unchanged Company Close Chg. %Symbol Specialized Trading & Investment 1.51 -17.03%SPTI Jordan Industrial Resources 0.11 -15.38%JOIR Alshamekha For Real Estate &Financial Investments 1.04 -13.33%VFED Jordanian Expatriates Investment Holding JEIH 0.58 -10.77% Market Breadth
- 2. المالية والمؤسسات واالستثمارات للخزينة األهلي مجموعة Ahli Treasury, Investments & Financial Institutions Group 2 INVESTMENT استثمار USD Libor O/N 2.39113 pct. 1 Month 2.48088pct. 3 Months 2.58113 pct. 6 Months 2.62900 pct. 1 Year 2.74638 pct. Oil & Gold FX Rates JOD Interest Rates “Jordanian Government Curve” Gold 1275.00 Light Crude 64.00 EUR / USD 1.1250 GBP / USD 1.3000 AUD / USD .7155 USD / JPY 111.91 USD / JOD 0.708—0.710 Window 4.000 Pct. 1 Wk CDs 4.750 Pct. 1 Year T-Bills 4.441 Pct. 2 Years T-Bonds 4.750 Pct. 3 Years T-Bonds 4.750 Pct. 5 Years T-Bonds 5.235 Pct. 7 Years T-Bonds 5.750 Pct. 10 Years T-Bonds 6.300 Pct. 15 Years T-Bonds 7.098 Pct. Global News: Fed official is open to adopting an inflation target range as the leader of the Federal Reserve Bank of Boston said he favors the central bank moving from using interest-rate policy to achieve 2% inflation to a regime that targets a range of price pressures, in remarks that also offer a positive view of the US economy. “It appears that the 2% inflation goal has essentially acted more like a ceiling” for price rises, Boston Fed leader Eric Rosengren said in the text of a speech to be presented Monday at Davidson College in North Carolina. Mr. Rosengren noted that the Fed’s inflation target is supposed to view shortfalls and overages in the same fashion, but it doesn’t seem to have worked out that way. China’s economy unexpectedly held up in the first three months of the year as stimulus measures kicked in, helping stabilize sentiment rattled by trade tensions with the US. Gross domestic product rose 6.4% in the first quarter from a year earlier, exceeding economist estimates and matching the previous three months. FOMC 2018 Meeting Date FED Funds Rate Jan 30,2019 2.25 - 2.50 March 20,2019 2.25 - 2.50 May 1,2019 June 19 ,2019 July 31,2019 September 18,2019 October 30,2019 December 11,2019 The Kingdom’s tourism revenue climbed 5.2 per cent and reached $1.3 billion during the first quarter of this year, in comparison to the same period of 2018.The number of foreign tourists arriving in Jordan during the first quarter rose 33.3 per cent, and the number of overnight and group-based tourists increased by 36 per cent and 19.7 per cent respectively, the Jordan News Agency, Petra, reported. In 2018, tourism revenue surpassed the $5 billion mark, signifying an 8 per cent increase from 2017’s $4.6 billion. The number of tourist groups was reported to have increased significantly throughout the first 11 months of 2018, with 86,320 tourists visiting the Kingdom in groups, compared with 61,620 tourists during the same period of 2017, which constituted an increase of 40.1 per cent. The President of the Arab Inter-Parliamentary Union and Lower House Speaker Atef Tarawneh said that the Arab region is at a crossroads and is facing enormous challenges that require unified efforts and integrated roles to move development forward , also he called for supporting Iraq in building a modern country, especially after suffering from the repercussions of occupation, war and terrorism. Jordan is sounding out banks about a possible sale of USD1 billion in Eurobonds as the Middle Eastern country looks to fund a budget strained by more than a million Syrian refugees. A request for proposal has been sent, with the plan to sell the debt to local banks and international lenders operating branches in Jordan, the country’s finance minister Ezzedin Kanakriyah, told Bloomberg on Sunday in Washington, where he attended the spring meetings of the International Monetary Fund and the World Bank. “We are watching the offers and after the offers we will see which consultant will win,” the minister said. The government is also talking to the World Bank about a USD1 billion soft loan as it seeks to cut the cost of its debt repayments and revive an economy hurt by the rise in commodity prices. Jordan is aiming gradually to “decrease the ratio of public debt to GDP to below 94% this year from 94.4%,” the minister said. The GDP of the Emirate of Abu Dhabi at current prices grew 14.4% year-on-year during the fiscal year 2018, recording AED931 billion (USD253.47 billion), according to a report released by Statistics Centre - Abu Dhabi (SCAD) on Tuesday. The increase in the emirate’s GDP stemmed from a 35.7% year-on-year rise in the activity of mining and quarrying last year – including crude oil and natural gas, reaching AED375.9 billion. “This increase in value-added resulted from higher oil prices. As a result, its contribution to the total GDP increased from 34.1% in 2017 to 40.4% in 2018,” SCAD said. The UAE’s current account surplus increased by 37.6% year-on-year in 2018, recent data by the Central Bank of the UAE showed. The state’s current account surplus grew to AED139 million last year, representing 9.1% of gross domestic product (GDP), compared to AED101 billion in 2017 that made up 7.3% of GDP, according to the central bank. The central bank attributed the growth of the current account surplus to an increase of AED52.2 billion in the UAE’s trade balance, which is mainly linked with oil prices. Oil and gas exports rose by 13.9% year-on-year or AED29.6 billion in 2018, while non-oil exports increased by 2.1% or AED8 billion, the central bank noted. Local News: Regional News: The German government expects the country’s public sector debt to fall below the European Union’s debt ceiling this year, a draft document seen by Reuters showed on Tuesday. The document shows debt is expected to fall to 58.75% of economic output in 2019, below the 60% mark set by the bloc. It would be the first time since 2002 that German debt falls below that mark. Finance Minister Olaf Scholz said last year that Germany would achieve this milestone by the end of 2018. But the document showed that the government estimates public debt stood at 60.9% last year
- 3. المالية والمؤسسات واالستثمارات للخزينة األهلي مجموعة Ahli Treasury, Investments & Financial Institutions Group 3 INVESTMENT استثمار Disclaimer: The trading and financial related data contained in this report 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 employees and its third-party suppliers shall have no liability for errors or omissions with respect to the service or its delivery, re- gardless 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 infor- mation 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. 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.