Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

“ Listing PALTEL’s share in (S&P-AFE 40) and (Dow Jones-FEAS 50) ”

2011-12-21

Among Palestine Exchange’s pursuit of continuing to promote the shares of the listed Palestinian companies in the PEX to enforce them on the map of international investments; it has been announced recently the listing of Palestine Telecommunications PALTEL’s shares in “Standard and Poor’s” Index for the Arab Federation of Exchanges (S&P-AFE 40) and the “Dow Jones” index for distinguished shares in the Federation of Euro-Asian Stock Exchange (Dow Jones-FEAS 50). Therefore, “PALTEL” is the first Palestinian company that will be listed among the most important Arab and global indices.

On this achievement, The CEO of Palestine Stock Exchange; Mr. Ahmad Aweidah pointed out that the inclusion of PALTEL’s share in Arab and regional indicators shows what have the Palestinian listed companies reached of a competitive position with their counterparts in the region. Noting that choosing PALTEL’s shares with their counterparts of blue-ship companies such as, Al Rajhi International Group for Investment in Saudi Arabia, the National Bank of Kuwait, IFG Financial Services in Egypt, EMAAR properties in UAE and SABIC in Saudi Arabia emphasizes its achievements and puts it in the same level as the regional leading Arab Companies. Adding that the choice came within defined parameters for the index . Mr. Aweidah also said: “These indicators represent a reliable instrument for investors to help them gauge investment opportunities in an increasingly attractive region “. Referring to what these indicators have played as an important role to add transparency and liquidity to the money markets, hoping that this will enhance the attractiveness of Palestine Stock Exchange by increasing the trading volume.

The CEO of Palestine Telecommunications PALTEL; Mr. Ammar Al-Eiker said: “We are proud that PALTEL’s share was included in these two indicators which represent an important platform for international investors and enhance the credibility of the company. The Inclusion of PALTEL’s share in (Dow Jones-FEAS 50) reflects the strong performance of the company, its unique achievements and completed transparency in addition to the portion of shares available for trading (more than 56% ) ,which conform with the international standards of the “ Dow Jones” index . While the inclusion of PALTEL’s share in (S&P-AFE 40) reflects a great success to the company and ranks it in the level of the largest Arab companies .PALTEL’s share is considered as one of the active leadership shares in Palestine Stock Exchange, constituting 35% of the total PEX market value”.

On one hand, (S&P-AFE 40) index, in which was launched during the annual meeting of Arab Federation of Exchanges, includes the top 40 companies listed in the Arab Stock Exchanges in terms of size and liquidity; the value of the trading for share in the index is not less than $ 50 million for 12 months. S&P Index includes companies from Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Tunisia and the United Arab Emirates. It is expected that the indicator will provide better measures and economic trends for the investors about the region, in the line with the international standards.

On the other hand, (Dow Jones-FEAS 50) is designed to serve as the basis for financial products such as funds and structured products. An equal-weighted measure of the 50 largest stocks traded on FEAS-member exchanges. The ranking is calculated by weighting each stock’s float-adjusted market capitalization at 60%, sales/revenue at 20% and net income at 20%. The top 50 stocks by final rank are selected as index components. The index is equal-weighted, with each component’s weight set to 2%. Weights are reviewed on a quarterly basis, returning to 2% using price-based weightings. And the index components are reviewed annually in May. Exchanges represented in the index are: Abu Dhabi (UAE), Almaty (Kazakhastan), Amman (Jordan), Banja Luka (Bosnia and Herzegovina), Belgrade (Serbia), Bucharest (Romania), Cairo (Egypt), Istanbul (Turkey), Karachi (Pakistan), Manama (Kingdom of Bahrain), Muscat (Oman), Nablus (Palestine), Sarajevo (Bosnia and Herzegovina), Skopje (Republic of Macedonia), Sofia (Bulgaria) and Zagreb (Croatia). It is worth mentioning that Palestine Stock Exchange is a member of the Arab Federation of Exchanges since 1998, and a member of the Federation of Euro-Asian Stock Exchange since 2000.

 


 

2018-02-15
A momentum in the dividends proposals and varied financial performance for the blue-chips

2018-02-15
TNB posts net income of $9.20 million at the end of 2017

2018-02-15
AQARIYA posts net income of JD 0.39 million at the end of 2017

2018-02-15
PALTEL posts net income of JD70.53 million at the end of 2017

2018-02-15
PALAQAR records net income of JD3.77 million at the end of 2017

2018-02-15
GUI records net income of $3.77 million at the end of 2017

2018-02-15
PEC posts net income of $8.64 million at the end of 2017

2018-02-15
GMC posts net income of JD1.78 million at the end of 2017

2018-02-15
TIC records net income of $2.19 million at the end of 2017

2018-02-15
BJP posts net income of JD1.64 million at the end of 2017

2018-02-15
ISBK records net income of $14.53 million at the end of 2017

2018-02-15
PICO reports net income of $4.79 million at the end of 2017

2018-02-13
TRUST records net income of $5.43 million at the year 2017

2018-02-13
PSE reports net income 0.68 million at the year 2017

2018-02-13
BPC proposes 2.7% stocks dividends and 20% cash dividends for the year 2017

2018-02-13
ELECTRODE posts net income JD0.07 million at the year of 2017

2018-02-12
VOIC posts net income of JD6.83 million at the end of 2017

2018-02-11
APIC reports net income of $17.44 million at the end of 2017

2018-02-08
Inactivity state in the market with the approaching end of the disclosures’ period

2018-02-08
VOIC recommends 60% cash dividends for the year 2017

2018-02-07
QUDS posts net income of $11.18 million for the year 2017

2018-02-06
ARAB reports net income of JD0.05 million for the year 2017

2018-02-05
PCMA and JSC signed memorandum of understanding

2018-02-05
BOP proposes distributing 13.5% cash dividends for the year 2017

2018-02-05
Nasdaq and Palestine Exchange sign new market technology agreement

2018-02-05
BOP reports net income of $54.00 million at the end of 2017

2018-02-01
NAPCO records net income of JD0.46 million at the end of 2017

2018-02-01
Several transactions in the PEX and the companies have started their disclosures

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013