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A receding in the declines wave and Al-Quds Index rebounds upwards

2014-04-17

Weekly Trading Report [13-17/04[2014

Within a relatively conservative transactions, Al-Quds Index rebounded upwards during the week through recording gains of 4.20%; to end the declines wave that has started for several weeks as a result of the evolving economic and political data that negatively affected the market in general . This has widely opened potential movement probabilities for the index and market in the coming period in addition to the extent of continuous declines scenarios. Palestine Stock Exchange PEX recompensed, during the week, the losses recognized during March and April with the eroding of small investors’ confusion and with the start of domination of internal factors with positive effects that run parallel with Q1 2014 financial statements disclosure.  Whereas, there is no doubt that the major contributor in bouncing the market is the return of purchasers with the prices falling and increase of attractiveness. In this context, a category of traders may build the fact of attractive prices- especially to the leading companies- on the achieved profits in 2013, while other categories may rely on the companies’ profits growth motivating factors for 2014. In both cases, most companies’ shares have attractive and competitive market indicators similar to other regional markets. Regarding the liquidity indicators and despite their relative weakness and the likelihood of continuing at the same levels in parallel with the public events and the surrounding mystery, the institutional and foreign liquidity momentum are still absent to contribute in growth quantum leap that may change the PEX’s indicators as a whole.

Regarding the internal incentives in the PEX, the Q1 2014 financial results disclosure pace accelerated. While the anticipation increases on the leading companies disclosures that have high market value, heavy weights in the index and high rotation. Within this context, Palestine Industrial Investment Company PIIC- the investment arm of Palestine Development and Investment Company PADICO in the industry sector and the parent company of Palestine Poultry Company AZIZA - disclosed posting net income attributable to the shareholders of the parent company of JD0.96 million in Q1 2014; up by 69.22% than the same period of 2013. This increase came as a result of an increase of 38.64% in the company’s sales that led to significantly increase the gross and operating margins. Accordingly, PIIC recorded an increase in its book value to JD1.68, to trade at a P/BV ratio of 1.22x.  It is worth mentioning that the general assembly of PIIC approved on its meeting on 17/04/2014, distributing 12% cash dividends for the year 2013, to record dividends yield of 5.85% according to the current market price. Regarding PIIC’s subsidiary-Palestine Poultry Company AZIZA-, it disclosed recording net income of JD1.04 million in Q1 2014; up by 86.10%  than Q1 2013 following a significant increase in operating income. Accordingly, AZIZA records BV of JD1.88 and P/BV of 1.60x. Furthermore, the general assembly of AZIZA approved, on its meeting on 17/04/2014, distributing 12% cash dividends, to record dividends yield of 4.03%.

In the banking and financial service sector and within disclosures that is not devoid of significant growth percentages for several years , the financial results of The National Bank TNB showed recording net income after tax of $1.88 million in Q1 2014; up by 130.5% than Q1 2013. This came as a result of an increase in net interest and commissions, foreign exchange profits and financial assets profits. BOP continues to record an increase in BV parallel to the retaining earnings to reach $1.13 as for the end of March 2014, to trade on a P/BV of 1.06x. Moreover, Palestine Securities Exchange Company PSE- the operator of the PEX- announced recording net income of $0.32 million in Q1 2014 compared to Q1 2013. The increase in profits came due to an increase of 225%  in trading and stock transfer commission due to an increase in trading value of 228% in Q1 2014, resulting in an increase in trading activity and significant increases in market prices value of the leading companies.

 

 

 


 


 

2017-08-17
Medium liquidity with the end of the legal semi-annual disclosures’ period

2017-08-16
PADICO posts net income of $7.46 million in H1 2017

2017-08-16
PRICO realizes net loss of JD1.28 million in H1 2017

2017-08-16
WASSEL reports net income of 0.07 million in H1 2017

2017-08-16
JCC reports net income of JD0.27 million in H1 2017

2017-08-16
AZIZA reports net income of JD2.20 million in H1 2017

2017-08-16
PID realizes net loss of JD0.03 million in H1 2017

2017-08-16
PIIC records net income of JD3.33 million in H1 2017

2017-08-16
PIBC records net income of $1.97 million in H1 2017

2017-08-16
LADAEN realizes net loss of JD0.50 million in H1 2017

2017-08-15
NCI reports net income of $0.15 million in H1 2017

2017-08-15
PALAQAR reports net income of JD0.07 million in H1 2017

2017-08-15
JREI realizes net loss of $0.17 million in H1 2017

2017-08-15
TIC records net income of $1.33 million in H1 2017

2017-08-15
NSC reports net income of JD0.13 million in H1 2017

2017-08-15
ABRAJ posted net income of $0.18 million in H1 2017

2017-08-14
AQARIYA reports net income of JD0.42 million in H1 2017

2017-08-14
BOP posted net income of $24.72 million in H1 2017

2017-08-14
TRUST posted net income of $2.83 million in H1 2017

2017-08-14
PICO reports net income of $2.13 million in H1 2017

2017-08-14
GMC posted net income of JD0.60 million in H1 2017

2017-08-14
JPH posted net income of $0.76 million in H1 2017

2017-08-14
GUI records net income of $0.96 million in H1 2017

2017-08-14
BPC reports net income of $6.02 million in H1 2017

2017-08-14
TNB records net income of $5.36 million in H1 2017

2017-08-14
PEC reports net income of $5.25 million in H1 2017

2017-08-13
ELECTRODE records net income of JD0.09 in H1 2017

2017-08-13
AIB reports net income of $4.01 million in H1 2017

2017-08-13
NAPCO records net income of JD0.18 million in H1 2017

2017-08-13
APIC reports net income of $7.87 million in H1 2017

2017-08-10
Al-Quds Index increases amid the semi-annual financial data disclosures’ domination

2017-08-09
ARAB records net income of JD0.05 million in H1 2017

2017-08-09
ISBK reports net income of $6.37 million in H1 2017

2017-08-09
APC records net income of JD0.70 million in H1 2017

2017-08-09
MIC posts net income of $1.00 million in H1 2017

2017-08-07
UCI reports net income of $0.54 million in H1 2017

2017-08-07
VOIC posts net income of JD3.39 million in H1 2017

2017-08-07
PSE realizes net loss of $0.10 million in H1 2017

2017-08-07
QUDS reports net income of $6.13 million in H1 2017

2017-08-07
PALTEL records net income of JD33.06 million in H1 2017

2017-08-07
BJP records net income of JD0.59 million in H1 2017

2017-08-03
Executing several transactions raises the market's trading value this week

 

 

 
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