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Al-Quds Index rebounds on attractive market indicators for stocks

2014-05-29

Weekly Trading Report [25-29/05[ 2014

One of the constituents of internal affairs in Palestine has seen the light with starting to reach a consensus on forming a government of national unity. On the other hand, the anticipation remains current regarding the new government’s impact on the Palestinian economy and its institutions development on one hand, and the type of contact with the U.S and Israeli parties on another hand. With these developments, Palestine Stock Exchange PEX- the most exposed to the political and economic factors- continues to reflect some negative indicators as a result of the uncertainty of the political horizon.  The lack of liquidity and rigidity of trading remain to be the most obvious, but there is no doubt that the PEX observer clearly identified the bottom for Al-Quds Index that the leading shares pulled around due to the reached low prices that report attractive market indicators, especially with the disclosed financial results of Q1 2014, leading the observer to predict his financial return’s stability this year as a minimum.

Within the week’s trading that is characterized with weakness compared to the average daily trading value of Q1 2014, the share of Palestine Telecommunications PALTEL topped the PEX in terms of trading value to constitute 41.34% of this week’s four trading sessions, to close at the level of JD5.69; up by 5.37% than its previous closing, to contribute in the rebound of Al-Quds Index. It is worth mentioning that PALTEL trades at PE ratio of 7.21x and P/BV of 1.54x. Regarding the blue chips, the share of Palestine Development and Investment Company PADICO recorded significant gains of 9.49% through medium-volume transactions that constituted 23.71% of the PEX’s total trading value. PADICO closed at the level of $1.50, to trade at a P/BV of 0.85x and PE of 12.97x. On the other hand, PADICO will be holding a board of directors meeting on 25/06/2014.

In terms of active stocks, the trading value of The Arab Palestinian Investment Company APIC increased due to executing several institutional transactions through the trading sessions, to record $0.51 million. APIC stabled to close at the level of $17. It is worth mentioning that the company approved distributing 19.98% stock dividends to increase its paid up capital to $70 million divided into 70 million shares. It is worth mentioning that the company trades at a PE ratio of 6.15x. On the other hand, the share of Bank of Palestine BOP increased by 0.69% to close at the level of $2.90 through transactions worth $0.53 million. BOP also records PE ratio of 8.67x. It is worth mentioning that the bank held its board of directors meeting at the beginning of the week without taking any substantive decision to affect the share’s price.

Regarding the GA meetings that witness lower momentum, the GA of Dar Al-Shifa Pharmaceuticals PHARMACARE will be holding a meeting on 09/06/2014 to discuss distributing 8% cash dividends for the year 2013, to record dividends yield of 2.10%. On the other hand, Palestine Investment Bank PIBC will be holding a meeting on 11/06/2014 to discuss distributing 3% cash dividends and 3.77% stock dividends.

 

 

 

 

 

 


 

2017-04-30
VOIC approves distributing 60% cash dividends for the year 2016

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PSE realizes net loss of $0.27 million in Q1 2017

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JREI realizes net loss of $0.07 million in Q1 2017

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BJP posts net income of JD0.89 million in Q1 2017

2017-04-25
WATANIYA realizes net loss of $1.12 million in Q1 2017

2017-04-25
NAPCO records net income of JD0.13 million in Q1 2017

2017-04-25
APIC approves distributing 6.06% stock dividends and 6% cash dividends for 2016

2017-04-25
APIC records net income of $3.57 million in Q1 2017

2017-04-23
PEC records net income of $3.60 million in Q1 2017

2017-04-23
TNB approves distributing 5% cash dividends for the year 2016

2017-04-23
Bravo realizes net loss of JD0.13 million in Q1 2017

2017-04-20
Medium liquidity in the quarterly disclosures and dividends distribution seasons

2017-04-20
PEC approves distributing 10% cash dividends for the year 2016

2017-04-19
TNB records net income of $2.77 million in Q1 2017

2017-04-18
BPC approves distributing 20% cash dividends for the year 2016

2017-04-18
VOIC records net income of JD1.07 million for Q1 2017

2017-04-13
Al-Quds Index declines amid anticipation elements’ overlapping

2017-04-13
TRUST approves distributing 15% cash dividends for the year 2016

2017-04-12
JPH proposes 10% cash dividends for the year 2016

2017-04-11
APC records net income of JD0.33 million in Q1 2017

2017-04-11
PIBC proposes 2.35% stocks dividends for the year 2016

2017-04-11
NSC recommends 10% cash dividends for the year 2016

2017-04-11
GUI approves distributing 10% cash dividends for the year 2016

2017-04-10
3G services in 6 months in the West Bank

2017-04-10
BOP approves distributing 2.56% stocks dividends and 10.44% cash dividends for the year 2016

2017-04-10
QUDS proposes distributing 12% stocks dividends for the year 2016

2017-04-06
Dividends approval momentum and a final agreement to run 3G frequencies in the Palestinian markets

2017-04-06
PALTEL approves distributing 40% cash dividends for the year 2016

2017-04-04
PADICO proposes distributing 5% cash dividends for the year 2016

2017-04-03
AIB approves raising its capital to $75 million and distributing 12% cash dividends for the year 2016

2017-04-02
NIC approves 20% cash dividends for the year 2016.

2017-04-02
ISBK approves raising its capital to $69 million and distributing 8.50% cash dividends for the year 2016.

 

 

 
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