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Sahem Weekly Trading Report (04-08)-09-2016
Palestine Stock Exchange PEX ended its varied and optimistic week prior to Eid Al-Fiter Holiday, which is supposed to start from Sunday 11/09/2016 to Thursday 15/09/2016. Cautious quietness which is accompanied with optimism dominated the PEX during the trading sessions, in parallel to a lack in the heavy profit taking transactions that dominate the financial markets in order to collect cash before the holiday. Undoubtedly, the PEX has sole characteristics that are noticeably different from the other regional Arabic markets. Where the current prices are considered investment opportunities compared to the market indicators that result from the semi-annual financial data and the average yield from one side, and the PEX isolation of itself from the outside effects that influence directly the other financial markets’ performance from another hand.
In the same context, the PEX recorded an average dividends yield of around 6% for the year 2015, similar to the yield recorded in the previous year. This resulted from a balancing growth of 3.11% in the distributed cash dividends for the year 2015, in addition to an increase in the market capitalization of the companies that distributed dividends. On the other hand and based on the disclosed semi-annual financial data for 2016, it is undoubtedly that the average indicators support the current prevailing prices of the listed companies, especially that the positive growth incentives are available despite the recession in the market activity from time to time. Accordingly, the PEX will enter a new anticipation phase after returning to its usual operations on Sunday 18/09/2016 as a result of several reasons, including announcing the Q3 2016 financial data disclosures, to complete the yield image in the investors’ minds, in addition to awaited achievement of the PEX in September, to include the PEX on the Frontier Markets lists by FTSE Indices, in which is supposed to ensure internationally the PEX ability to commit all the international markets’ basses, in which results in increasing the investments and maintain investors and their attraction. Hopes will rise to include the PEX in the foreign investors’ agenda within the global investment map to drag their attention to these attractive numbers.
Regarding this week’s trading, the stock of Palestine Telecommunications PALTEL topped the PEX when recorded transactions worth 27.84% from PEX total trading value, to close at the level of JD5.20; up by 0.19%. Moreover, the stock of Palestine Islamic Bank ISBK followed in terms of activity, when its transactions constituted 21.20% from PEX total trading value, to increase by 15.65% and close at the level of $1.70. The stock of Palestine Development and Investment Company PADICO followed when its transactions constituted 16.43% from PEX total trading value, to increase significantly by 4.31% and close at the level of $1.21. On the other hand, the transactions of the Arab Palestinian Investment Company APIC contributed by 14.05% from PEX total trading value, to close at the level of $1.75 without any change than its previous closing.