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Growing anticipation to surpass the 600pt level amid the start of financial disclosure and recommendations


Sahem Weekly Trading Report [26-30/01[2014

With the start of listed companies to announce their operations results for the year 2013 and the confluence of some of the dividends recommendations, and in parallel with the incursion more in the season of traders’ shifts among stocks prior to general assembly meetings; the synergy between investment decisions motives and market trends among the different categories of investors reinforced. The growth and activity drivers are still prevalent, strengthening themselves in each time with incentives among the general level or within the company’s particularity, leading PEX to post new record levels that haven’t been witnessed since years. A-Quds index, the listed companies, and market capitalization are all recording highs since the beginning of the fourth quarter of last year and till this moment. Within the new levels, Al-Quds Index touched the 600 points at the end of the month through transactions momentum led by the shares of Palestine Telecommunications and Palestine Development and Investment, in attempts to break the psychological level, which its digits are linked to several previous years. Therefore, investors’ anticipations to break through this level in the coming week are raised with the growing pace of financial disclosure and dividends recommendations and any changes on the political level.

Daily average trading value has increased to reach $3.20 million in January 2014 compared to $1.41 million in 2013. This came as a result of new liquidity flow, healthy speculative rotation and investors’ returning to trade in the PEX after the lethargy that continued for several years. Regarding the trading of the last week of the current month, Al-Quds Index gains reinforced when increased by 0.70%, adding to the gains of this year to reach 10.55%. This growth was led by the significant liquidity momentum activity of both the shares of Palestine Telecommunications PALTEL and Palestine Development & Investment PADICO when recording varied gains and different gradual price rapidity as a result of the free float shares rates on one hand or the surrounding substantial news on another hand. It is worth mentioning that these two shares are linked in the PEX, and are more exposed to each other since months.

The share of Palestine Telecommunications PALTEL- the largest company by market capitalization- topped the PEX in terms of trading value, when reached $12.78 million; contributing around 47.73% of the PEX total trading value during the week. This came as a result of executing two cross transactions aside to building new investment positions prior to the financial data disclosure and holding the general assembly meeting. In effect of the active trading on the company’s share, PALTEL closed at the level of JD6.68; up 1.21%, and touching through the week higher levels, to record a trading price range of 2.57%. On the other hand, the share of Palestine Development and Investment PADICO – the largest investment company by market capitalization- witnessed active trading when recorded trading value worth $10.14 million; constituting around 37.87% of the PEX’s total weekly trading value. PADICO recorded significant gains of 3.45%, leading the share to centralize itself on a new resistance levels $1.80.

Regarding the preliminary financial statements disclosures and the dividends distributions recommendations, The Arab Company for Paints Products APC announced recording net income of JD0.80 million in 2013; up by 55.41% than the year 2012. This came due to the increase in sales and what has led of enhancement in the profitability margins. Moreover, the BOD of APC, recommended to its GA that will be holding a meeting on 09/02/2014 distributing 40% cash dividends. On the other hand, Union Construction and Investment UCI announced decreasing its net income by 36.84% in 2013 than the year 2012, when reached $0.38 million, affected by a decrease in the real estate investment profits and the sales of housing units.  Then again, the BOD of The National Insurance Company NIC recommended to its GA that will be holding a meeting on 27/03/204 distributing 20% cash dividends. 








Al-Quds Index continues its declining with the start of December



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