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Al-Quds Index in the red zone amid lack of liquidity

2014-09-18

Sahem Weekly Trading Report [14-18/09[2014

Al-Quds Index declined in Palestine Stock Exchange PEX this week by 0.93% amid a significant lack of liquidity, to close in the red zone for the third week in a row, which the index tried thoroughly, to breakthrough main resistance levels over the 520 points, but the technical liquidity indicator couldn’t support the market trend. Regarding the leading shares, they have had the greatest impact on the decline of the index due to its incapability of strengthening around the beginning of September levels, and the returning of declining trend again. The anticipation remains in its routine phase in the PEX, but the relief sigh of the investors hasn’t survived in front of the rapid random sales- even with their small sizes- following the sensitive internal characteristics of the PEX and its activity drivers.

Regarding the blue-chips, the share of Palestine Development and Investment Company PADICO- the largest investment company by market capitalization-topped the PEX in terms of trading value, to constitute 31.38% of the PEX total trading value. Accordingly, PADICO’s share traded in a price range of 3.27%, to close at the level of $1.57, down by 0.63% than its previous week closing. In terms of PADICO’s news, the board of directors BOD of the company held a meeting on 17/09/2014, whereby, discussed PADICO’s procession, future plans, its subsidiaries’ performance and any new updates on its projects. On the other hand, the largest company by market capitalization- Palestine Telecommunications PALTEL-, it traded in a price range of 2.96%, to close at the level of JD5.50; down by 1.61%; contributing 33.32% of the PEX total trading value during the week. Moreover, Bank of Palestine BOP- the largest bank by market capitalization- gained by 0.36% to close at the level of $2.81 through medium-sized trading. It is worth mentioning that the bank held a BOD meeting in 14/09/2014, whereby, discussed its business plan and the impact of the damages of Gaza Strip on the bank’s assets.  

Among expectations and regarding the weekly substantial news of the listed company, The National Bank TNB announced the secondary subscription, starting from Wednesday 17/09/2014, until the end of the business day of Thursday 02/10/2014, pointing out that 25,000,000 shares, worth $25,000,000 were offered to the bank’s shareholders as registered on 27/08/2014, whereby, the shareholders have the right to subscribe by 50% of the total number of their owned shares with a $1 par value per share. This coincides with the extraordinary GA decision of raising the paid up capital from $50 million to $75 million. Moreover and within the substantial news, Palestine Mortgage and Housing Corporation PMHC called an extraordinary GA meeting in 28/09/2014, to discuss converting the company from a public shareholding company to a private shareholding company. On the other hand, The CEO of Palestine Electric Company PEC emphasized the company’s readiness to run the Gaza power station as soon as fuel is provided for its operation. This comes after halting the trading on PEC’s share since August 2014 due to the Israeli aggression on Gaza Strip and bombing the power station of the company.

 

 

 


 

2017-05-25
Dividends yield reports 5.8% in the PEX

2017-05-18
PADICO is higher than its equivalent price and the PMA is planning to issue digital currency

2017-05-16
PADICO approves distributing 5% cash dividends for the year 2016

2017-05-11
The PEX records an average PE of 11.1x in Q1 2017

2017-05-10
Manaseer Cement & Mining Company signs a partnership agreement with Sanad Construction Industries Company

2017-05-09
QUDS approves distributing 12% stocks dividends for the year 2016

2017-05-07
RSR approves distributing 7% cash dividends for the year 2016

2017-05-07
AZIZA approves distributing 18% cash dividends for the year 2016

2017-05-07
PIIC approves distributing 6% cash dividends for the year 2016

2017-05-04
Al-Quds Index increases with the end of the quarterly financial data disclosures’ season

2017-05-03
PIBC approves raising its paid-up capital to $61 million

2017-05-02
RSR reports net income of JD0.094 million in Q1 2017

2017-05-02
WASSEL posts net income of $0.14 million in Q1 2017

2017-05-02
PADICO reports net income of $4.71 million in Q1 2017

2017-05-02
AHC realizes net loss of JD0.53 million in Q1 2017

2017-05-02
ISBK posts net income of $3.04 million in Q1 2017

2017-05-02
BOP reports net income of $12.35 million in Q1 2017

2017-05-02
PID realizes net loss of JD0.01 million in Q1 2017

2017-05-02
BPC records net income of $2.92 million in Q1 2017

2017-05-02
PICO reports net income of $1.00 million in Q1 2017

2017-05-02
MIC posts net income of $0.31 million in Q1 2017

2017-05-02
JCC realizes net loss of JD0.06 million in Q1 2017

2017-05-02
JPH records net income of $1.60 million in Q1 2017

2017-05-02
GMC posts net income of JD0.25 million in Q1 2017

2017-05-02
NSC records net income of JD0.05 million in Q1 2017

2017-05-02
NCI records net income of $0.06 million in Q1 2017

2017-05-02
PRICO realizes net loss of JD0.13 million in Q1 2017

2017-05-02
ABRAJ records net income $0.08 million in Q1 2017

2017-05-02
ELECTRODE reports net income of JD0.01 million in Q1 2017

2017-05-02
PIIC records net income of JD1.70 million in Q1 2017

2017-05-02
LADAEN realizes net loss of JD 0.03 million in Q1 2017

2017-05-02
AZIZA posts net income of JD1.33 million in Q1 2017

2017-05-02
PALTEL records net income of JD18.04 million in Q1 2017

2017-05-02
AQARIYA posts net income of JD0.24 million in Q1 2017

2017-05-02
GUI reports income of $0.87 million in Q1 2017

2017-05-02
NIC posts net income of $1.54 million in Q1 2017

2017-05-02
TRUST reports net income of $1.74 million in Q1 2017

2017-05-02
TIC records net income of $0.82 million in Q1 2017

2017-05-02
QUDS posts net income of $3.94 million in Q1 2017

2017-05-02
ARAB records net income of JD0.029 million in Q1 2017

2017-05-02
PIBC posts net income of $0.98 million in Q1 2017

2017-05-02
PALAQAR reports net income of JD0.025 million in Q1 2017

 

 

 
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