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Al-Quds Index in a horizontal movement amid of relatively scarce trading

2013-12-05

Sahem Weekly Trading Report [01-05/12] 2013

Inertness and anticipation were imposed on Palestine Stock Exchange PEX in the first week of the last month of the current year, amid horizontal movement in the index that is likely to drop between the levels 526.34 and 530.68; generally following a scarcity of incentives. Trading and price movements were slow this week, and liquidity was trapped around the current trading prevailing prices, amid raising the anticipations for the remaining period of December 2013. Seasonal routines dominate this period, including positions’ swaps among listed shares and attempting to achieve portfolio gains, opposed by the financial settlements and profits taking at the end of the year. Undoubtedly, the PEX has a special characteristics; enabling the investment decision to enter into sequenced anticipations with varied motives, links and consequences, and creates its own seasonality and routines with features that are difficult to predict like the regional Arabic Markets.         

The price performance of the leading companies resembled this week, without any witnessed significant activity of any, to end their transactions with a varying weighting and influential decreases in Al-Quds Index. The share of Palestine Telecommunications PALTEL- the largest share by market capitalization and the heaviest weighted share in Al-Quds Index- decreased by 0.89%  to close at the level of JD5.58, after transactions of $1.18 million; constituting around 33.48% of the PEX’s total weekly trading value. It is worth mentioning that the BOD of PALTEL will be holding meeting on 11/12/2013 to discuss the business plans, while, PALTEL’s investors- with their different categories- drag their attention to the annual financial results of the company for 2013 in which will be disclosed at the beginning of the next year, to help in forecasting the amount of cash dividends distribution especially with the investment losses reduction in 2013 in parallel with the continuity of improving the operating revenues. The cash dividends distribution higher expectation for the coming years will grow starting from the year 2014, especially with the latest announcement by PALTEL regarding licensing its offshore investment arm VTEL Holding – owned 25% by PALTEL- to operate the 4G Services, in which will significantly reflect the financial statements of VTEL - the main source of investment revenue to PALTEL- in a positive way.   

Moreover, the leading share of Palestine development & Investment PADICO- the largest investment company by market capitalization- decreased by 1.49%, to close at the level of $1.32 after transactions worth $0.92 million. This came due to trading in a relatively wide trading range; constituting around 4.58% from the lowest level touched during the week, amid the appearance of purchasing bids in the price depth around $1.30 that supported the share to trade above this level by considering it a support level. On the other hand, the share of Bank of Palestine BOP- the largest bank by market capitalization- stabilized at the level of $3.06 without any change, after the attempts to penetrate the level of $3.10 through transactions worth $0.72 million.

Regarding the substantial news of the listed shares, Ramallah Summer Resorts RSR will be holding an extraordinary general assembly meeting on 27/12/2013 to discuss the reduction of the company"s capital by the non-subscribed shares of 0.14 million shares of the last secondary subscription and raising it again to $4 million shares through offering the shares t public for subscription at a par value of 1JD, plus a premium of JD2.3, to reach JD3.30.

 

 


 

2018-02-22
The PEX records average PE of 13.8x and average P/BV of 1.23x

2018-02-21
NSC posts net income of JD0.37 million at the end of 2017

2018-02-21
UCI records net income of $0.68 million at the end of 2017

2018-02-21
TIC proposes 10% cash dividends for the year 2017

2018-02-19
APC reports net income of JD1.20 million at the end of 2017

2018-02-19
PIBC reports net income of $3.91 million at the end of 2017

2018-02-19
PID realizes net loss of JD0.01 million at the end of 2017

2018-02-19
PRICO realizes net loss of JD13.49 million at the end of 2017

2018-02-19
RSR reports net income of JD0.48 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
JCC posts net income of JD0.51 million at the end of 2017

2018-02-19
ABRAJ records net income of $2.25 million at the end of 2017

2018-02-18
WASSEL posts net income of 0.06 million at the end of 2017

2018-02-18
SANAD records net income of $10.05 million at the end of 2017

2018-02-18
BPC records net income of $10.28 million at the end of 2017

2018-02-18
PADICO posts net income of $5.68 million at the end of 2017

2018-02-18
WATANIYA realizes net losses of $6.64 million at the end of 2017

2018-02-18
NCI posts net income of $0.16 million at the end of 2017

2018-02-18
AHC realizes net losses of JD1.52 million at the end of 2017

2018-02-18
AIB posts net income of $6.40 million at the end of 2017

2018-02-18
JPH records net income of $6.18 million at the end of 2017

2018-02-18
AIG posts net income of $3.12 million at the end of 2017

2018-02-18
JREI posts net income of $0.01 million at the end of 2017

2018-02-18
MIC posts net income of $3.26 million at the end of 2017

2018-02-18
LADAEN records net losses of JD0.05 million at the end of 2017

2018-02-18
PIIC records net income of JD5.50 million at the end of 2017

2018-02-18
AZIZA posts net income of JD3.18 million at the end of 2017

2018-02-18
APC proposes 50% cash dividends for the year 2017

2018-02-18
PALTEL recommends 40% cash dividends for the year 2017

2018-02-18
GUI proposes 20% stocks dividends and 10% cash dividends for the year 2017

2018-02-18
NIC proposes 25% stocks dividends and 25% cash dividends for the year 2017

2018-02-18
ELECTROODE proposes 12% cash dividends for the year 2017

2018-02-18
NAPCO proposes 5% cash dividends for the year 2017

2018-02-18
BOP proposes 13.5% cash dividends for the year 2017

2018-02-18
TRUST proposes 50% stocks dividends and 20% cash dividends for the year 2017

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

 

 

 
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