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Weekly Trading Report ]26-30/06 [2016
Al-Quds Index ended its transactions for the first half of 2016 with a 5.43% decline than its annual closing in 2015. Historically, the Index in this period, especially in the second quarter of the year, is affected by decreases in the stocks that distributed dividends and have heavy weights. The decline in the first half of the year approximates the decline recorded in the corresponding period of 2015. Regarding the first six months of this year, the political aspect was not crowded by any influential factors on the price performance of Palestine Stock Exchange PEX. The main and particular factors related to the financial data, strategies and news on the listed companies contributed the most in formulating the prices trend within a variation in the liquidity factors. During the first half of 2016, Al-Quds Index traded in price range of 49 points, whereby, its highest level was reached on February 8th, while, and touched its lowest level in the last trading session of May. The month of June is considered the price rebounding month for some stocks with varying weights in Al-Quds Index, to record a monthly gains of 3.15% and wipe an important part of its losses since the beginning of the year which resulted from the routinely Ex-dividends.
In the last week of June, the institutional transactions dominated the trading value of the PEX. Whereby, the stock of the Arab Hotel Company AHC topped the PEX with transactions that constituted 32.25% from PEX total trading value during the week due to executing an institutional transaction of 4.15 million shares, whereby, the buyer was a company specialized in the hotel and tourism services’ sector, one of Aswaq for Investment Portfolios Company’s investments; the subsidiary of Palestine Investment Fund. The stock of the Arab Palestinian Investment Company APIC followed, after a distinguished performance in terms of liquidity indicators and price movements together since weeks. The trading value of the stock recorded 20.47% from PEX total trading value, to noticeably increase by 4.29% and close at the level of $1.46; recording the highest price level since its listing.
Regarding the heaviest weighted stocks, the transactions of Palestine Development and Investment Company PADICO constituted 14.29% from PEX total trading value, to increase by 3.45% and close at the level of $1.20. Moreover, the transactions of Palestine Telecommunications Company PALTEL constituted 11.88% from PEX total trading value, to close at the level of JD5.03; slightly down by 0.40%. Furthermore, the transactions of Bank of Palestine BOP constituted 5.72% from PEX total trading value, to decrease by 0.79% and close at the level of $2.50. On the other hand and with the beginning of the coming week which coincides with the beginning of July, the legal period granted by the PEX to disclose the semi-annual financial data will start and end mid of August. Thereby, the PEX enters a cautious anticipation phase in the beginning of July within a variation in the listed companies’ profits expectations. While undoubtedly the optimism dominates more given what has been reported within Q1 2016.