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The PEX records the second highest gain among the Arab regional markers since the beginning of 2014

2014-02-02

Al-Quds Index closed at the end of January 2014 at the level of 598.60 point; up by 57 points (around 10.55%) than its closing in 2013. To record the second highest increase among the Arab regional stock markets since the beginning of the year. During January 2014, trading volume, in Palestine Stock Exchange PEX, increased by 278.33% compared to the corresponding period of 2013, when reached 29.83 million shares compared to 7.88 million shares in January 2013. Moreover, daily average trading value increased by 267.18% to settle at $3.20 million compared to $0.87 million in the same period of 2013. The number of transactions grew by 127.01%. Furthermore, trading value significantly increased to $60.79 million; 287.58% compared to the same period of 2013, while, market capitalization soared to $3.5 billion; up by 25.01% than January 2013. In his commentary, the CEO of the Palestine Exchange, Ahmed Aweidah noted to the remarkable recovery in trading volumes and values ​​since the beginning of the year, describing the performance of the stock market during the month of January as positive and very encouraging. The total trading this month alone exceeded the total turnover in the first quarter of 2013. The CEO said “the stock market recorded a record performance compared to the performances of the Arab markets, and this would stimulate investors to snap up attractive investment opportunities in the shares of listed companies”.  He expressed optimism that this activity is the beginning of a recovery phase and a momentum in trading activity, stressing that the stock market has a strong regulatory and legislative structure that qualifies it to start again, noting that the state of activity taking place in the stock market and the recorded positive performance indicators by the listed companies are factors to attract and motivate the individuals and institutional investors at home and abroad.It should be noted that the Dubai Financial Market Index recorded the highest increase among the indices of Arab capital markets since the beginning of the year when increased by 11.89 % , while the majority of other Arab markets recorded indices recorded notable gains with the end of the trading month of January 2014.