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Economic updates on media balance the performance of Palestine Exchange

2013-11-28

Weekly Trading Report [24-28/11] 2013

Despite the divergence of views and analysis regarding the high-volume transactions executed in the beginning of this month about whether if considered a quantum leap and a promising indicator in Palestine Stock Exchange PEX or only a seasonal phase; but undoubtedly the fact that Palestine Telecommunications PALTEL has considered directing some of its income to the national economy through PADICO Holding dominated. Not to mention the investment drivers for the mutual investments between these two companies, which in turn are considered the largest Palestinian companies and the most exposed to the national economy; media updates by governmental personalities in the economic aspects were reported these days, some of which are considered a promising factor for any Palestinian investment and some of which are an outlook of developmental economic transformation in Palestine following executing some aspects  in order to ensure a favorable environment.

One of the most important governmental trends that have emerged in the media during the week, was a release by the Palestinian Minister of Economy that the international economic initiative- Kerry’s plan- is not linked to the Palestinian-Israeli negotiations, whereby, this plan contains economic programs that aim to improve the Palestinian economic situation and is not linked to the political aspects. In case of the negotiations’ failure and willingness of the US side to proceed in the plan, the Palestinian Authority will help in succeeding this economic initiative. Also, the Deputy Prime Minister of Economic Affairs clarified some economic aspects to ensure a favorable environment for the proposed investments within the economic initiative, whereby, if applied, will be able to enhance the required economic transformation. In all cases, these governmental media updates within the economic aspect may spell a general optimism and a hope for strengthening the basics for a comprehensive economy, in addition to enhancing the investment drivers in the PEX specifically, which in turn is considered the local economy gate. 

Regarding the PEX; and following two successive weeks of significant price growth, the trading of this week was characterized with much higher degree of caution due to reaching solid resistance levels by blue-chips that haven’t witnessed since years. With expanding the trading range of Al-Quds Index, the leading shares exchanged roles of tides in the range, parallel to profit takings on the shares of companies that have achieved remarkable increases, some of which may refer to closing financial positions at the end of the current month. During the week, the share of Palestine Development & Investment Company PADICO recorded significant increase despite the selling offers after breaking through the level of $1.30, to end its active transactions of $4.75 million at the level $1.34; up by 4.69%, to basically constitute the main leverage for Al-Quds Index this week to balance around the 530 points.

In contrast, the share of Palestine Telecommunications PALTEL decreased by 1.23% to end its transactions that reached $5.11 million at the level of JD5.63 through testing its previous weekly closing level with the intense selling offers. Moreover, the share of Bank of Palestine BOP decreased by 0.65%, closing at the level of $3.06 through transactions of $2.16 million. In terms of activity, the trading value of the National Bank TNB recorded a value of $1.31 million through executing several deals on the bank’s shares, to close at the level of $1.08; significantly up by 4.85%.

 

 

 

 

 

 

 


 

2017-06-22
Al-Quds Index at its highest level in three years

2017-06-21
Al-fiter holiday announcement

2017-06-19
Delisting the Arab Palestinian Shopping Center BRAVO from the PEX

2017-06-15
Al-Quds Index rebounds upwards in mid-June

2017-06-08
Al-Quds Index in the red zone in the second week of Ramadan

2017-06-01
New anticipations appear with the start of June

 

 

 
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