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Al-Quds Index rebounds above the 500 points level

2014-07-17

Weekly Trading Report [13-17/07[2014

The liquidity indicators in Palestine Stock Exchange PEX during this week didn’t change, but the downward trend of Al-Quds Index reflected strongly and in a comforting pace, to lift the trading again above the 500 points level after fading the selling offers from small investors on the low recorded levels on some leading shares with the highest weights in the index. Moreover, the political aspect hasn’t witnessed any positive development that may reflect the price substantially or quickly or may improve the trading value.  In contrast, and within the escalation in the security conditions, Al-Quds Index rebounded upward by 1.77% this week, to enhance the PEX’s ability to surpass the current political barriers with their different degrees which stem from different concepts, most notable, the increase of local investors awareness and their confidence in the listed PEX companies, in addition, to the lack of the PEX linkage with the foreign investment.

During this week’s trading, the share of Palestine Development and Investment Company PADICO – the largest investment company by market capitalization- constituted the essential leverage of rebounding Al-Quds Index upward, when achieving gains of 9.22% after trading in a wide range, to increase than its previous closing through medium transactions worth $0.35 million. The stabilizing of Palestine Telecommunications PALTEL- the largest company by market capitalization- had an important impact in supporting the rebounding of Al-Quds Index, to close at the level of JD5.41, through transactions worth $0.75. PALTEL’s share tried to achieve gains, but instead, settled through horizontal movement. On the other hand, the share of Bank of Palestine BOP- the largest bank by market capitalization- decreased by 0.36%, to close at the level of $2.79 through transactions worth $0.33 million.

Within the PEX companies’ substantial news, the general assembly GA of the Palestinian Company for Distribution & Logistics Services WASSEL will be holding an extraordinary meeting on 05/08/2014, whereby, will be discussing several issues such as: converting the company’s currency from the Jordanian Dinars to the US Dollars. It will also be discussing decreasing the company’s paid up capital from $9.17 million to $6.50 million to cover its accumulated losses that are worth $2.67 million. The GA will also discuss raising the paid up capital again to $13.00 million through offering shares for private subscription to the company’s shareholders according to their stakes.  On the other hand, the momentum of holding the board of directors meetings increased in this period to disclose the H1 2014 financial statements, whereby, the PEX grants the listed companies 45 days starting from the end of June 2014 to disclose their financial results. On the other hand and regarding the banking sector, total loans and credit facilities granted by the banks operating in Palestine reached $4.7 billion in May 2014; up by $67 million compared to April 2014 and up by more than $698 million compared to May 2013 according to the Association of Banks in Palestine. In addition, the total deposits in the banks operating in Palestine reached $8.5 billion in May 2014, whereby, loans constituted 52% of total deposits.

 

 

 


 

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RSR posts net income of JD0.07 million in Q1 2020

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NIC reports net income of $1.18 million in Q1 2020

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PADICO realizes net loss of $0.52 million in Q1 2020

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JPH posts net income of $1.22 million in Q1 2020

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ISBK records net income of $3.09 million in Q1 2020

2020-05-17
JREI realizes net loss of $0.03 million in Q1 2020

2020-05-17
PALTEL posts net income of JD7.03 million in Q1 2020

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Scarce trading and a momentum in the substantial news

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BPC reports net income of $0.99 million in Q1 2020

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VOIC posts net income of JD0.33 million in Q1 2020

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AZIZA posts net income of JD0.99 million in Q1 2020

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LADAEN posts net income of JD0.009 million in Q1 2020

2020-05-13
PIIC posts net income of JD0.64 million in Q1 2020

2020-05-13
PSE realizes net loss of $0.01 million in Q1 2020

2020-05-13
JPH approves distributing 10% cash dividends for the year 2019

2020-05-13
ELECTRODE approves distributing 6% cash dividends for the year 2019

2020-05-10
PEC reports net income of $2.85 million in Q1 2020

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AIB posts net income of $2.00 million in Q1 2020

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Al-Quds Index in the red zone amid the start of Q1 2020 financial data disclosures

2020-05-05
PALTEL starts to pay the approved dividends distribution

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NAPCO realizes net loss of JD0.29 million in Q1 2020

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APIC posts $5.12 million net income in Q1 2020

 

 

 
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