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Al-Quds Index reverses the losses but closes in the red zone

2014-06-19

Sahem Weekly Trading Report [15-19/06[2014

Palestine Stock Exchange PEX has barely captured its breaths during the last two weeks through a rebound up, but quickly dropped on a security situation flopping in the country and vague determination conditions. Whereby, Al-Quds Index declined during the week to approach its lowest achieved level during 2014, but the accumulation of the purchasing bids on some blue chips, led the index to rebound upwards within an enhancement in the general liquidity indicators. At the end of the week, the PEX proved the ability to absorb shocks due to growing investors’ awareness and the domination of long-term investors rather than speculators after recording a decrease of 1.92%, however, the index’s losses reached 3.31% during trading sessions. On the other hand, the share of Palestine Development and Investment Company PADICO constituted the main engine of the index amid a decrease that is characterized with lack of liquidity and price rebounding with smooth activity that is supported by heavy purchasing bids. 

Within this week’s trading, the share of Palestine Development and Investment Company PADICO – the largest investment company by market capitalization- topped the PEX in terms of trading volume, to constitute 58.91% from the PEX total trading volume. PADICO’s share recorded losses of 7.32% to close at the level of $1.52, rebounding from the $1.42 level that has been touched during the week through heavy purchasing bids around the approached levels, supported by the attractive market indicators and approaching H1 2014 financial statements disclosure period. Moreover, the share of Palestine Telecommunications PALTEL- the largest company by market capitalization- declined by 1.44% to close at the level of JD5.48 through medium volume transactions that constituted 39.94% from the PEX total trading value during the week through executing an institutional transaction on the company’s share. Moreover, the share of Bank of Palestine BOP- the largest bank in terms of market capitalization- maintained a narrow trading range, to close at the level of $2.88; down by 0.35% through transactions worth $0.60 million.

Regarding the substantial news of the week, Palestine Commercial Bank PCB announced offering bonds for public subscription and secondary subscription for the shareholders of the bank registered as of 19/03/2014, with priority to the bank’s shareholders. According to the announcement, the number of bonds offered for subscription is 10,000 bonds, with a total value of $10,000,000; par value per bond of $1,000. Whereby, The bonds are subject to fixed interest rate, for the first thirty months, of 6.5% annually, and an annual variable interest for the remaining thirty months that is not less than the applicable interest rate throughout the life of the bond, with a floor of 6.5% and ceiling of 7.5% per annum until the maturity of bonds and conversion into stocks. Moreover, the issuance date is on 03/07/2014 and maturity date is on 03/07/2019. Regarding the banking sector, The National Bank TNB announced signing an agreement to purchase new banking development system with Temenos Company- a leading global provider of banking systems- to provide the bank with the most sophisticated banking system T24. This coincides with the bank’s expansion plan in Palestine after seeking the competitiveness in the Palestinian banking market through offering technological banking services.

 

 

 


 

2018-02-19
APC reports net income of JD1.20 million at the end of 2017

2018-02-19
PIBC reports net income of $3.91 million at the end of 2017

2018-02-19
PID realizes net loss of JD0.01 million at the end of 2017

2018-02-19
PRICO realizes net loss of JD13.49 million at the end of 2017

2018-02-19
RSR reports net income of JD0.48 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
JCC posts net income of JD0.51 million at the end of 2017

2018-02-19
ABRAJ records net income of $2.25 million at the end of 2017

2018-02-18
WASSEL posts net income of 0.06 million at the end of 2017

2018-02-18
SANAD records net income of $10.05 million at the end of 2017

2018-02-18
BPC records net income of $10.28 million at the end of 2017

2018-02-18
PADICO posts net income of $5.68 million at the end of 2017

2018-02-18
WATANIYA realizes net losses of $6.64 million at the end of 2017

2018-02-18
NCI posts net income of $0.16 million at the end of 2017

2018-02-18
AHC realizes net losses of JD1.52 million at the end of 2017

2018-02-18
AIB posts net income of $6.40 million at the end of 2017

2018-02-18
JPH records net income of $6.18 million at the end of 2017

2018-02-18
AIG posts net income of $3.12 million at the end of 2017

2018-02-18
JREI posts net income of $0.01 million at the end of 2017

2018-02-18
MIC posts net income of $3.26 million at the end of 2017

2018-02-18
LADAEN records net losses of JD0.05 million at the end of 2017

2018-02-18
PIIC records net income of JD5.50 million at the end of 2017

2018-02-18
AZIZA posts net income of JD3.18 million at the end of 2017

2018-02-18
APC proposes 50% cash dividends for the year 2017

2018-02-18
PALTEL recommends 40% cash dividends for the year 2017

2018-02-18
GUI proposes 20% stocks dividends and 10% cash dividends for the year 2017

2018-02-18
NIC proposes 25% stocks dividends and 25% cash dividends for the year 2017

2018-02-18
ELECTROODE proposes 12% cash dividends for the year 2017

2018-02-18
NAPCO proposes 5% cash dividends for the year 2017

2018-02-18
BOP proposes 13.5% cash dividends for the year 2017

2018-02-18
TRUST proposes 50% stocks dividends and 20% cash dividends for the year 2017

2018-02-15
A momentum in the dividends proposals and varied financial performance for the blue-chips

2018-02-15
TNB posts net income of $9.20 million at the end of 2017

2018-02-15
AQARIYA posts net income of JD 0.39 million at the end of 2017

2018-02-15
PALTEL posts net income of JD70.53 million at the end of 2017

2018-02-15
PALAQAR records net income of JD3.77 million at the end of 2017

2018-02-15
GUI records net income of $3.77 million at the end of 2017

2018-02-15
PEC posts net income of $8.64 million at the end of 2017

2018-02-15
GMC posts net income of JD1.78 million at the end of 2017

2018-02-15
TIC records net income of $2.19 million at the end of 2017

2018-02-15
BJP posts net income of JD1.64 million at the end of 2017

2018-02-15
ISBK records net income of $14.53 million at the end of 2017

2018-02-15
PICO reports net income of $4.79 million at the end of 2017

2018-02-13
TRUST records net income of $5.43 million at the year 2017

2018-02-13
PSE reports net income 0.68 million at the year 2017

2018-02-13
BPC proposes 2.7% stocks dividends and 20% cash dividends for the year 2017

2018-02-13
ELECTRODE posts net income JD0.07 million at the year of 2017

2018-02-12
VOIC posts net income of JD6.83 million at the end of 2017

2018-02-11
APIC reports net income of $17.44 million at the end of 2017

2018-02-08
Inactivity state in the market with the approaching end of the disclosures’ period

2018-02-08
VOIC recommends 60% cash dividends for the year 2017

2018-02-07
QUDS posts net income of $11.18 million for the year 2017

2018-02-06
ARAB reports net income of JD0.05 million for the year 2017

2018-02-05
PCMA and JSC signed memorandum of understanding

2018-02-05
BOP proposes distributing 13.5% cash dividends for the year 2017

2018-02-05
Nasdaq and Palestine Exchange sign new market technology agreement

2018-02-05
BOP reports net income of $54.00 million at the end of 2017

2018-02-01
NAPCO records net income of JD0.46 million at the end of 2017

2018-02-01
Several transactions in the PEX and the companies have started their disclosures

 

 

 
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