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Weekly Trading Report [08-12/11/ [2015
Al-Quds Index reinforced its trading above the 500 points level this week; positively up by 0.99% than its previous closing. This growth followed recording gains for several stocks with varying weights in the index versus varied performance for the blue-chips with the heavier weights. The increase in price followed the companies’ financial data disclosures for 9M 2015, which in turn was reflected on Al-Quds Index and its constituents in different degrees. Undoubtedly, a clearer vision for a significant enhancement in Palestine Stock Exchange PEX due to any positive turnaround in the political situation is raised. Whereby, the profitability of the listed companies and their ability to adapt in the worst circumstances emphasize that the investment opportunity is feasible and competitive to the strongest regional markets.
In terms of this week’s trading, the stock of Bank of Palestine BOP – the largest bank by market capitalization- topped the PEX when contributed for 25.02% from total trading value in the five trading sessions of the week. This came in parallel to achieving gains of 2.71%, to close at the level of $2.65. However, the distinguished financial data of the bank for 9M 2015, which recorded an increase in net income attributable to the shareholders of the parent company by 21%, mainly resulted in increasing the purchasing bids on the bank’s stocks despite the profit-taking by small investors with the price hike. Regarding the price activity, the stock of Wataniya Palestine Mobile Telecommunications WATANIYA achieved gains of 4.76%, to close at the level of $0.88. This growth followed the profit-taking on the stock that appeared in the previous week with the increase in price that came out after releasing news on exempting WATANIYA from paying the licensing fees for five years- which is 7% from operating revenues. While the trading value of the company contributed for 10.21% from total weekly trading value.
As for the leading stock of Palestine Development and Investment Company PADICO- the largest investment company by market capitalization- it declined slightly by 0.89%, when closed at the level of $1.11 after transactions that contributed for 17.67% from total trading value of the PEX in the week. However, the distinguished disclosed financial data of the company in 9M 2015 was positive with double digits; leading for an increase in the anticipation of investors for the results that may the fiscal year end with to clearly predict the return. While, there is no doubt that the observer of the company’s performance will consider the approach of the bonds’ maturity in September 2016 that is worth $85 million and issued in September 2011.On the other hand, the stock of Palestine Telecommunications Company PALTEL – the largest company by market capitalization- stabilized at the level of JD5.50 without any change than its previous closing, after transactions that contributed for 16.90% from total trading value of the week.