AMMAN, 25 July 2005 — Jordanian stocks hit an all-time high yesterday, propelled by better-than-expected semi-annual profits of the heavyweight Arab Bank and other blue chips, analysts said. The all-share price index of the Amman Stock Exchange climbed 3.62 percent, crashing the 8,000-point psychological barrier and closing above it at 8,011 points, according to the ASE daily report. “We believe the sharp rise of the benchmark has been in response to the better-than-expected results of many listed firms, including the Arab Bank and other blue chips, in the first six months of the year,” a portfolio manager told Arab News. “In accordance with the published results, many investors have started to take positions that focused on the firms with best performance,” he said.
