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Al-Quds Index in the green zone amid substantial news on companies

2014-08-07

Sahem Weekly Trading Report [03-07/08[201

After deviating itself from the political and security events in the Gaza Strip within the long holiday, Palestine Stock Exchange PEX resumed a stable performance that is slat to rise of Al-Quds Index during the week. On the other hand, a momentum of price rises appeared in the mid-week session leading Al-Quds Index to record gains of 2.13% closing in the green zone within a trading value of $2.22 million. This price activity came after entering a temporary truce between the Israeli and Palestinian parties and after engaging in talks to enter a permanent truce on one hand and the approaching end of the legal period granted by the PEX to the listed companies to disclose their semi-annual financial statements on another hand. Regarding a distinguished price performance of some leading shares, Al-Quds Index has abandoned its physiological level of 500 points and has rebounded through price jumps that were enhanced by lack of depths.

Optimism towards the disclosed financial statements is the chief incentive for the investors, especially after the first quarter financial results disclosure and what followed of encouraging results amid the successive difficulties on the Palestinian economy. The achieved net income of the leading companies drags the attention and anticipation more than the other listed companies, but what has been disclosed till the end of the week nods total good figures and a coming week filled with the disclosures momentum. In the same context and following the distinguished performance of The Vegetable Oil Industries Company VOIC, the company announced reporting net income of JD2.67 million in H1 2014; up by 46.95% compared to H1 2013. This came due to the increase in sales by 42.41% that led to an increase in gross profits to 22.64% as a result of a significant increase of 45.66% in the company’s stake from its associates’ profits, to record earnings per share EPS of JD0.67 and book value BV of JD4.53 in H1 2014. Moreover, the financial results of Palestine Securities Exchange Company PSE showed posting net income of $0.31 million in H1 2014 compared to net loss in the corresponding period. This resulted from an increase in total revenues by 44.98% due to a 69.39% increase in the trading and transfer commissions which were affected by an increase of 70.22% in the trading value and trading activity in H1 2014 compared to the corresponding period of 2013. 

In parallel to the periodic financial results disclosure, substantial news about the listed companies regarding the paid up capital and its strategic plans accelerated. In this context, and according to the extraordinary general assembly GA of The National Bank TNB during May 2013 regarding increasing the authorized capital from $50 million to $75 million, the investment committee of the board of directors BOD approved covering the unpaid capital through offering shares for secondary public subscription for the bank’s shareholders with a $1 par value per share. Moreover, the Palestinian Company for Distribution & Logistics Services WASSEL held an extraordinary GA meeting during the week and approved several issues such as: converting the company’s currency from the Jordanian Dinars to the US Dollars. It also approved decreasing the company’s paid up capital to cover its accumulated losses that are worth $2.67 million. The GA, as well, approved raising the paid up capital again from $6.50 million to $13.00 million through offering shares for private subscription to the company’s shareholders according to their stakes.

 

 


 

2017-04-26
UCI reports net income of $0.18 million in Q1 2017

2017-04-25
PSE realizes net loss of $0.27 million in Q1 2017

2017-04-25
JREI realizes net loss of $0.07 million in Q1 2017

2017-04-25
AIB reports net income of $1.55 million in Q1 2017

2017-04-25
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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