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Al-Quds Index rebounds on attractive market indicators for stocks


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.










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