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Palestine Exchange records the highest increase among Arab markets

2011-03-20

Palestine Stock Exchange (PEX) topped Arab capital markets’ performance since the beginning of this year where Al Quds index ranked first as of 17/03/2011; to restore lost gains since the beginning of the year.

By the end of the trading session of Thursday, 17/03/2011, Al Quds index recorded an increase of 1.40% compared to the end of 2010, to close at the level of 496.45 points, to be the only index that closed within the Green Zone among Arab Markets Indices which all closed down significantly.

The Chief Executive of the PEX, Mr. Ahmed Aweidah assured that these indicators carry positive news that could send more confidence among investors and traders in the PEX, stressing out that this would support what has been emphasized several times that the Palestinian stock market is promising, grows steadily and maintained a relatively moderate performance, despite all the fluctuations that occur locally, regionally and internationally.

Since the beginning of this year until the end of the trading session of Thursday, 17/03/2011, trading volume reached approximately 41 million shares through about 16 thousand transactions that exceeded $70 million, while the market capitalization of listed companies reached nearly $ 2.8 billion.

It is noteworthy that Arab capital markets’ performance is still under the influence of unrest developments witnessed in the region, which added more pressure on the functioning of markets amid a state of fluctuations in their indices’ performance since the beginning of the year 2011. Recent weeks witnessed mass losses, while it is still unclear regarding the dates of resuming trading in the stock markets of Egypt, Libya and Bahrain.