Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

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.

 

 

 


 

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.

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013