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Weekly Trading Report [14-18/06/ [2015
Palestine Stock Exchange PEX continued to witness scarce transactions and rigidity in the purchasing power, whereby, Al-Quds Index closed in the red zone; ending the week with the routinely start of the holy month Ramadan which –historically- may increase the trading scarcity and add anticipation factors. With its several and different reasons, all parties of the securities’ sector believe in the fact of the inevitability of diminishing all these reasons to revive Palestine Stock Exchange PEX. What drags the attention of investors is the type of liquidity that would compensate this lack, especially when some of these reasons stem from the Palestinian political situation that cannot be easily vanished. If this is a time matter or not, the PEX is demonstrating attractive prices, companies’ confidence and legislations transparency as what an individual with capital market knowledge basics believes, driving the majority of the Palestinian listed companies’ shareholders to hold their financial positions and contribute in the relative stability the prices in the PEX.
On the other hand and within the efforts to reinforce the liquidity in the PEX in general and within a step that may widen the investment choices for investors, the shares of Beit Jala Pharmaceutical Company were listed in Palestine Stock Exchange PEX under the symbol BJP, to raise the number of listed companies to 50. The company was listed within the secondary market in the industry sector with a total paid-up capital of JD5.35 million and book value of JD1.48 as for the end of Q1 2015. It is worth mentioning that the company recorded net income after tax of JD0.29 million in Q1 2015, compared to JD0.19 million in Q1 2014. In terms of its trading, BJP opened at the price level of JD2.00 and stabilized at this price till the end of the week through a trading value worth of $0.10 million.
Regarding the weekly trading performance, the absence of institutional transactions and high-volume ones was reflected with a weak trading value in the PEX that recorded around $1 million. Regarding the blue-chips, the stock of Palestine Telecommunications PALTEL – the heaviest weighted in Al-Quds Index stabled at JD5.38 through transactions that didn’t exceed $0.25 million. The stock of Bank of Palestine BOP followed in terms of trading value when recorded $0.23 million, to close at the level of $2.50; down by 0.79%. Moreover, the stock of Palestine Development and Investment Company PADICO declined by 0.86%, to close at the level of $1.15 within narrow transactions and relatively wide price range.