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Al-Quds Index in the green zone for the second week in row and PALTEL’s profits up by 6%

2014-08-14

Sahem Weekly Trading Report [(10-14)-08-2014]

Al-Quds Index continued to achieve gains for the second week in row, supported by an upward trend performance of the leading stocks with the heaviest weights in the Index and highest trading turnover. Despite the continuation of liquidity indicators around the previous recorded levels of the second quarter of 2014, which in turn, significantly decreased in comparison to the first quarter of 2014, but the leading shares witnessed active and rapid movement transactions during the week. Moreover, these stocks strengthened prices levels that were recorded in the previous week amid smooth circulation, to record other increases in attempts to convert the resistance levels to support levels following the accelerating of positive news on the listed companies. During the week, the share of Palestine Development and Investment Company PADICO – the largest investment company by market capitalization- topped the PEX in terms of trading value during the week that accounted for 42.95% of total trading value in the market, to record gains of 1.91% and close at $1.60. On the other hand, the share of Palestine Telecommunications PALTEL- the largest company by market capitalization- recorded gains of 0.72%, when closing at the level of JD5.60 through transactions that contributed for 36.68% of the weekly total trading value. 

The positive and optimistic market performance came parallel to an increase in the and various objectives of  H1 2014 financial statements disclosure during the week that coincides with the end of the legal period granted by the PEX to the listed companies to disclose their financial results. Amid the increasing anticipation for the leading companies’ financial disclosure, Palestine Telecommunications PALTEL – the largest company by market capitalization- announced posting net income of JD48.05 million; up by 5.97% in H1 2014 compared to H1 2013. This coincides with an increase in gross income by 4.84% due to a relative stability in revenues compared to a decrease in cost of revenues, in addition to a decrease in the effective tax expense by 38.73% besides achieving investment income of JD5.49 million opposed to investment loss in the corresponding period. These reasons opposed an increase in the operating and administrative expenses, leading to a positive increase in the EPS to reach JD0.365 in H1 2014 compared to JD0.344 in H1 2013.

Among the leaders, Bank of Palestine BOP- the largest bank by market capitalization- disclosed recording net income attributable to the shareholders of the parent company of $18.92 million in H1 2014 up by 1.01% than the corresponding period due to an increase in gross income by 7.81% versus an increase in total expenses by 15.25%. The increase in profits came amid a growth in the direct credit facilities portfolio to record $1.19 billion at the end of H1 2014. In the same context and after listing the shares of the Arab Palestinian Investment Company APIC in the PEX this year, its shares witnessed a rapid performance, which in turn, is approximating the performance of the leading shares with the heaviest weights in the index. APIC disclosed distinguished financial statements since its listing, to announce this week reporting net income of $7.80 million in H1 2014; up by 39.19% than H1 2013, due to an increase of 34.86% in the operating income of the company following the increase in sales to reach $247 million in H1 2014. Regarding the other eye catching disclosures, the financial results of The National Bank TNB showed reposting net income of $2.23 million in H1 2014; up by 54.18% than the corresponding period of 2013. This significant increase came due to an increase of 38.94% in gross income, whereby, net interest and commissions constitute 81.64% from the figure.

 

 

 


 

2018-02-22
The PEX records average PE of 13.8x and average P/BV of 1.23x

2018-02-21
NSC posts net income of JD0.37 million at the end of 2017

2018-02-21
UCI records net income of $0.68 million at the end of 2017

2018-02-21
TIC proposes 10% cash dividends for the year 2017

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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