send to a friend by email

Al-Quds index standstills in a short trading week

2015-07-23

Weekly Trading Report [21-23/07/ [2015

The trading sessions of this week were limited to three after the end of Al-fiter holiday. Whereby, the daily average trading value recorded low level parallel to the domination of the underlying causes behind the liquidity scarcity. During the week, Al-Quds Index witnessed slight fluctuations following the price performance balancing of the blue-chips with the highest weights amid the partial absences of internal circulation. On the other hand, the scene is not free of preparation and anticipation- with its varying degrees and times-for all parties of the Palestinian economy in general and Palestine Stock Exchange PEX in particular until a clearer vision appears regarding the sustainable economic growth, which in turn will still drag the attention and hope together if any political development appears.

In the three trading sessions’ course, the leading stocks’ performance varied in balancing Al-Quds Index. Despite the widening in the price range of the largest leading stock in the investment sector in terms of market capitalization - Palestine Development and Investment Company PADICO- ended its week transactions at the level of $1.18 without any change. However, the performance of the other leading stocks greatly impacted the closing of the Index slightly in the red zone. In this context and within its transactions that constituted 52.71% from total trading value, the stock of Palestine Telecommunications PALTEL closed at the level of JD5.41; slightly down by 0.55%. However, the stock of bank of Palestine BOP- the largest bank by market capitalization- stabilized at the level of $2.53 without any change, while, the stock of the Arab Palestinian Investment Company APIC increased by 3.00%, to close at the level of $1.03.

Regarding the anticipation for the semi-annual financial data disclosures which ends mid August, other listed companies determined dates to hold their board of directors BOD’s meeting to discuss their financial data before disclosure. In this context, the BOD of Ahliea Insurance Company AIG will be holding a meeting on 30/07/2015, while, the BOD of Union Construction and Investment Company UCI will be holding a meeting on 31/07/2015. Moreover, the BOD of Nablus Surgical Center NSC will be holding a meeting on02/08/2015, while, Al-Quds Bank QUDS will be holding a meeting on 06/08/2015.