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Varied market performance amid anticipation for semiannual disclosure

2016-07-28

Weekly Trading Report ]24-28/07 [2016

Within varied market performance for the companies with the heaviest weights in the index, Al-Quds Index ended the week with slight change through high-value transactions which were raised through executing institutional transactions on the shares of the largest bank by market capitalization. Within the trading sessions, most leading stocks tested resistance levels recorded in the previous week, whereby, some succeeded to break-through and transform them into support levels, while others didn’t succeed following the accumulation in the selling offers of small investors for profit taking. This period is characterized with general incentives inactivity following lack of any developments in the political and economic aspects, while Palestine Stock Exchange PEX started to anticipate the semi-annual financial data disclosures, whereby, it is expected that the coming days to witness momentum with the approaching end of the legal period granted to disclose the data in mid August.

Regarding the financial data disclosures, Wataniya Palestine Mobile Telecommunications WATANIYA was the first to disclose its semi-annual financial data for 2016. The company posted for the first time since its establishment a net income of $1.03 million in H1 2016 compared to a loss approximating $8 million in the corresponding period of 2015. Within the disclosed data, WATANIYA recorded gross margin 56.88% in H1 2016; up from 47.28% in H1 2015. While the $2 million recorded recovery of an impairment provision after considering all expenses has enhanced the company’s profits. It is worth mentioning that the company recorded accumulated loss of $198.88 million as of 31/06/2016. In the market, the stock recorded gains of 2.41% when closed at the level of $0.85 through transactions that approximated $100 thousands.

The anticipation increases for the blue-chips disclosures in the coming days, their performance vary in the market amid medium conservative liquidity. Regarding the market performance, the stock of the Arab Palestinian Investment Company APIC decreased this week by 5.03%, to close at the level of $1.51 after the profit taking transactions around the historical recorded levels, while it recorded transactions worth $1.03. In contrary, the stock of Palestine Development and Investment Company PADICO increased by 0.85%, to close at the level of $1.18 after transactions worth $0.65 million. It is good to note that the board of directors of PADICO held a meeting last week and discussed the impact of selling the company’s stake in the Arab Hotel Company AHC and updates regarding the bonds issuance. However, the stock of Palestine Telecommunications PALTEL, declined slightly by 0.19%, to close at the level of JD5.18 with transactions worth $0.72 million. On the other hand, the stock of Bank of Palestine BOP constituted 75.50% from PEX total market value, when recorded trading value of $10.67 million after executing several transactions with high volume. BOP increased 0.40% and closed at $2.53.

 

 


 

2017-04-26
UCI reports net income of $0.18 million in Q1 2017

2017-04-25
PSE realizes net loss of $0.27 million in Q1 2017

2017-04-25
JREI realizes net loss of $0.07 million in Q1 2017

2017-04-25
AIB reports net income of $1.55 million in Q1 2017

2017-04-25
BJP posts net income of JD0.89 million in Q1 2017

2017-04-25
WATANIYA realizes net loss of $1.12 million in Q1 2017

2017-04-25
NAPCO records net income of JD0.13 million in Q1 2017

2017-04-25
APIC approves distributing 6.06% stock dividends and 6% cash dividends for 2016

2017-04-25
APIC records net income of $3.57 million in Q1 2017

2017-04-23
PEC records net income of $3.60 million in Q1 2017

2017-04-23
TNB approves distributing 5% cash dividends for the year 2016

2017-04-23
Bravo realizes net loss of JD0.13 million in Q1 2017

2017-04-20
Medium liquidity in the quarterly disclosures and dividends distribution seasons

2017-04-20
PEC approves distributing 10% cash dividends for the year 2016

2017-04-19
TNB records net income of $2.77 million in Q1 2017

2017-04-18
BPC approves distributing 20% cash dividends for the year 2016

2017-04-18
VOIC records net income of JD1.07 million for Q1 2017

2017-04-13
Al-Quds Index declines amid anticipation elements’ overlapping

2017-04-13
TRUST approves distributing 15% cash dividends for the year 2016

2017-04-12
JPH proposes 10% cash dividends for the year 2016

2017-04-11
APC records net income of JD0.33 million in Q1 2017

2017-04-11
PIBC proposes 2.35% stocks dividends for the year 2016

2017-04-11
NSC recommends 10% cash dividends for the year 2016

2017-04-11
GUI approves distributing 10% cash dividends for the year 2016

2017-04-10
3G services in 6 months in the West Bank

2017-04-10
BOP approves distributing 2.56% stocks dividends and 10.44% cash dividends for the year 2016

2017-04-10
QUDS proposes distributing 12% stocks dividends for the year 2016

2017-04-06
Dividends approval momentum and a final agreement to run 3G frequencies in the Palestinian markets

2017-04-06
PALTEL approves distributing 40% cash dividends for the year 2016

2017-04-04
PADICO proposes distributing 5% cash dividends for the year 2016

2017-04-03
AIB approves raising its capital to $75 million and distributing 12% cash dividends for the year 2016

2017-04-02
NIC approves 20% cash dividends for the year 2016.

2017-04-02
ISBK approves raising its capital to $69 million and distributing 8.50% cash dividends for the year 2016.

 

 

 
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