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Al Quds index declines… and growing anticipation for the medium run

2015-05-28

Weekly Trading Report [24-28/05/ [2015

Within scarce transactions, Al-Quds Index declined again due to the lack of purchasing bids momentum around the levels witnessed by some leading stocks in the previous week. Despite executing some institutional transactions from time to time, the trading in Palestine Stock Exchange has been weak and lacked the price trending for a period of time, parallel to entering expected routine periods due to the financial data disclosure or dividends distribution. On the other hand and within the anticipated sustainable drivers in the PEX, it is expected that the PEX to be upgraded to a frontier market status by FTSE group during the next classification review on September 2015. This comes after meeting the qualities of markets criteria, including: regulatory environment, capital controls, clearing & settlement, and market transparency. This upgrading grants the PEX a momentum and international spread, as these international indices have an importance in terms of attraction to financial institutions and regional and international funds. Whereby, the attention and anticipation are now directed to the Palestinian investment environment, within this step, in order to transfer the PEX from the lack of liquidity and deadlock levels, to other better performance levels. 

Regarding the substantial news in the PEX and parallel to Palestine Monetary Authority PMA’s plan to increase the capital of the banks and enhance their ability to handle losses and achieve sustainable development, the PMA approved increasing the minimum required paid-up capital of the banking sector in Palestine from $50 million to $75 million or what is equivalent in other currencies, by giving the banks three years from the date of instructions issuance. It is worth mentioning that from the 7 listed banks in the PEX; only 2 banks meet the capital requirement. These banks are: Bank of Palestine BOP and the National Bank TNB, while the paid-up capitals of the other banks range between $30 million and $50 million. On the other hand, the PEX announced the listing of the shares of Beit Jala Pharmaceutical Company on the trading session of Tuesday 16/06/2015, in the industry sector in the PEX within the secondary market. According to the company, it’s paid up capital stands at JD5.35 million, while it produces medical products and pharmaceuticals. 

Regarding this week’s trading, the return of Palestine Telecommunications PALTEL’s stock- the heaviest weighted in Al-Quds Index- to trade below the JD5.40, was the main reason to the declining of the Index and its closing in the red zone, side by side to the decrease of the leading stock- Palestine Development and Investment PADICO- due to continuing to trade in ex-dividends. Regarding the liquidity indicators, the transactions of the leading stocks were characterized with weakness, while, executing institutional transaction on the shares of the National bank TNB increased the weekly trading value.

 

 


 

2020-09-24
Al-Quds Index below the 440 points level amid scarce liquidity

2020-09-17
Transactions on APIC raise the trading value fiery

2020-09-17
Delisting the stocks of the Arab Real Estate Establishment ARE and Globalcom Telecommunications GCOM from the PEX

2020-09-10
The PEX records average PE of 20.9x in H1 2020

2020-09-03
Al-Quds Index in the green zone amid medium-volume transactions

2020-09-03
PRICO realizes net loss of JD0.73 million in H1 2020

2020-09-03
JCC reports net income of JD0.27 million in H1 2020

2020-09-03
BPC records net income of $3.62 million in H1 2020

2020-09-03
BJP posts net income of JD0.31 million in H1 2020

2020-09-03
BJP posts net income of JD0.31 million in H1 2020

2020-09-03
PIBC posts net income of $1.21 million in H1 2020

2020-09-03
GMC posts net income of JD0.28 million in H1 2020

2020-09-03
WASSEL realizes net loss of $0.19 million in H1 2020

2020-09-03
AHC realizes net income of JD1.49 million in H1 2020

2020-09-03
JPH posts net income of $1.17 million in H1 2020

2020-09-03
TNB realizes net loss of $0.98 million in H1 2020

 

 

 
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