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Competitive market indicators in the PEX

2015-08-20

Weekly Trading Report 16-20/08/2015

Within a relative similarity in the liquidity levels of the blue-chips and the consistency in the price directions among some of them, Al-Quds Index moved in a range that didn’t exceed the four points, to end the week in the red zone with slight decline than the previous week.  However, the semi-annual financial data disclosures of the listed companies witnessed a momentum at the end of the week which coincides with the end of the legal granted disclosures’ period; to form, for all traders’ categories, a clearer vision of the return on investment with its components. In total, 48 companies disclosed their semi-annual financial data out of 49 companies, to record net income attributable to the shareholders of the parent company of $134.37 million compared to $142.11 million in the corresponding period of 2014; down by 5.45%. This decrease followed a decline in the total profits of the companies in the investment, services and insurance sectors versus an increase in the total profits of the banking and financial services’ and industry sectors. In total, the listed companies that disclosed their financial data record weighted average market P/E of 11.40x and weighted average P/BV of 1.13x.

In terms of the growth, the banking and financial services’ sector recorded a significant increase in the total profits of the companies that are composed of to hit 17.96%. This followed a growth in the profits of six banks out of eight listed banks in the sector. On average, the sector records weighted average P/E of 11.11x and weighted average P/BV 1.25x. The industry sector followed the banking and financial services’ sector when recorded an increase in the total profits of the companies that is composed of by 7.76%. Within this sector, seven companies out of thirteen listed companies witnessed an increase in their profits, while, six companies witnessed a declining in their profits from which only one company recorded loss in the period. According to the disclosed data, the sector records weighted average P/E of 9.92x and weighted average P/BV of 1.09x.

On the other hand, the insurance sector recorded the largest decrease in profits when reached 34.4% due to witnessing varying declines in six companies; to record weighted average P/E of 12.37x and weighted average P/BV 1.04x for the whole sector. The services’ sector came in the second place when reported a decrease of 15.37% in total profits that resulted from a decline in the profits of seven listed companies out of twelve in the sector, including five companies that witnessed an increase in losses or turned their profits into losses in the period. Accordingly, the services’ sector recorded weighted average P/E of 12.00x and weighted average P/BV of 1.43x. On the other hand, the investment sector witnessed a decline of 10.48% in total profits. This followed a decrease in seven listed companies out of nine in the sector. On average, the sector records weighted average P/E of 11.38x and weighted average P/BV of 0.66x.