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Palestine is a member of IOSCO


Sahem Weekly Trading Report [23-27/02[2014

Within active-trading week that is charged with the positivity of the disclosed financial data for the year 2013, the performance of some leading companies significantly shone, to constitute leverage for the liquidity indicators and price movements. Despite the decrease in Al-Quds Index that was attributable to a logical and routinely variation in the basis of taking the investment decision by the investors in the dividends proposal season, the investors’ appetite remains strong to seize opportunities for building powerful investment positions. A number of speculators will be selling their shares when intentions for dividends distribution appear with the aim of repositioning after the dividends distribution decision, while, purchasing orders may accelerate with the increase of dividends proposals anticipation by others. On the other hand and regarding the legal achievement of Palestine Capital Market Authority of attaining the full membership in the International Organization of Securities Committees (IOSCO), complementary elements to attract the investments are approaching the integration.  This step is considered as a global certificate that the legal and regulatory frameworks that govern the securities industry in the Palestine correspond to the international standards and requirements, and is important for the international funds in taking their investment decisions. Attaining the full membership in the IOSCO will positively impact the efforts of the PEX to join the World Federation of Exchanges, and a step forward to list the PEX on global indices. As a promising factor, this week witnessed an entry of foreign funds to the PEX and especially on Palestine Development & Investment Company PADICO; a positive step for March trading that will start with the beginning of the week. After what total financial statements of the listed companies for 2013 showed of an increase of 24% in total net income compared to the year 2012 when reaching $236.4 million in addition to shaping an overview of the dividends yield as for what has emerged of announcements regarding the dividends distributions until now, and within the continuous rehabilitation of the investment legal environment; optimism grows regarding reaping the fruits of the efforts of all factors of the capital market  to market investing the PEX.

On the other hand and within the activity-motivating factors in the PEX that resulted in increasing the trading value and expanding the investors’ options basis, trading on the shares of The Arab Palestinian Investment Company APIC will start from Sunday 02/03/2014, to increase the number of listed companies to 50 after including APIC to the investment sector. APIC has nine subsidiaries that provide several products and services within several economic sectors. APIC’s subscribed capital reach 50 million shares, and the free float records a percentage of 37%. APIC posted an eye catching operational and financial performance in 2013, when recorded net income attributable to the shareholders of the parent company of $7.98 million compared to $4.09 million in 2012; up by 95% due to a fiery increase in sales to amount for $4.53 million in 2012. BV records an amount of $1.41 and EPS hits $0.16 according to the latest disclosed financial statements by APIC.

Regarding this week’s trading, the share of Palestine Development & Investment Company PADICO topped the PEX in terms of trading volume by contributing 65.25% of the PEX’s trading volume, and trading value by constituting 60.89 % of the PEX trading value through transactions that were characterized with momentum and rapid movement, leading the share to break through important physiological barrier that was trading around for several sessions. The liquidity on PADCIO ranged between investment and speculative liquidity regardless of being local or foreign. The liquidity came as individuals or institutions to reflect the interest of the several PEX investors’ categories given especially when recorded EPS attributable to the shareholders of the parent company of $0.10. Due to the optimism, PADICO touched its highest level during 52 weeks and close at the level of $1.82; up by 1.11% during the week. On the other hand, the decrease in the share of Palestine Telecommunications Company PALTEL- the highest weighted share in Al-Quds Index- was the main reason for Al-Quds Index to close in the red zone when declined by 2.11%. This decrease came after the BOD decision to distribute 50% cash dividends for the year 2013. The decrease in PALTEL’s share price came through trading value that constituted 17.92% of the PEX’s total trading value, and which in turn, reflected the variation of investors’ interest of cash dividends entitlement regardless of their investment policy and directions.









Al-Quds Index below the 640 points level amid medium liquidity

Al-Quds Index declines in mid-September

Al-Quds Index in the green zone and new anticipation arises among investors

A transaction on TNB raises the trading value significantly



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