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Horizontal trading amid anticipation for quarterly disclosures

2016-10-09

Sahem Weekly Trading Report (03-06)-10-2016

With the start of October, Palestine Stock Exchange PEX entered the legal period granted to the listed companies to disclose their 9M 2016 financial data, to raise the anticipation once again for the PEX and investors particularly towards the accumulated yield in their minds. Undoubtedly, the expectations for companies financial data vary based on what had been announced in the first half of 2016 and what was layed out for possible impacts in the third quarter. Accordingly, the listed companies’ stocks performance varied this week following the fundamental factors and the ease of the liquidity movement.

This week, the stock of Al-takaful Insurance Company TIC topped the PEX when its transactions contributed 52.81% from PEX total trading value. This followed executing an institutional transaction on TIC’s shares, whereby Palestine Islamic Bank ISBK sold part of its stake to Trust International Insurance Company TIC and Trust Real Estate Company. Accordingly, ISBK’s stake declined to 26.23%, while the stake of the purchasing companies together increased to 62.44%. In terms of the price, TIC closed at the level of $3.63; up by 4.91% than its previous weekly closing. In the activity list, the stock of Palestine Telecommunications Company PALTEL – the largest company by market capitalization- followed, when its transactions constituted 28.98% from PEX total trading value, to close at the level of JD5.15; slightly up by 0.59%. While it was noticed that PALTEL’s price was solid around its support level of JD5.10.

In the market, the stock of the Arab Palestinian Investment Company APIC traded in a medium price range, to close at the level of $1.82; down by 0.55% and record transactions of 5.18% from PEX total trading value. It is worth mentioning that a large part of the investors are anticipating the quarterly financial data of APIC to monitor the impacts of the strategic changes in the company during 2016 and their effects on the profit margins. The stock of Bank of Palestine BOP followed with transactions that contributed 3.31% from total trading value, to decline by 0.39% and close at the level of $2.56. The market is anticipating the effect of the merger between Palestine Commercial Bank and BOP on the balance sheet and income statement of the first nine months of 2016. Moreover, the transactions of Palestine Development and Investment Company PADICO contributed by 1.98% from PEX total trading value, to trade in medium price range and close at the level of $1.15; down by 1.71%. It is worth mentioning also that the operating profit margins of the company are under anticipation for the third quarter of this year.

 


 

2017-05-18
PADICO is higher than its equivalent price and the PMA is planning to issue digital currency

2017-05-16
PADICO approves distributing 5% cash dividends for the year 2016

2017-05-11
The PEX records an average PE of 11.1x in Q1 2017

2017-05-10
Manaseer Cement & Mining Company signs a partnership agreement with Sanad Construction Industries Company

2017-05-09
QUDS approves distributing 12% stocks dividends for the year 2016

2017-05-07
RSR approves distributing 7% cash dividends for the year 2016

2017-05-07
AZIZA approves distributing 18% cash dividends for the year 2016

2017-05-07
PIIC approves distributing 6% cash dividends for the year 2016

2017-05-04
Al-Quds Index increases with the end of the quarterly financial data disclosures’ season

2017-05-03
PIBC approves raising its paid-up capital to $61 million

2017-05-02
RSR reports net income of JD0.094 million in Q1 2017

2017-05-02
WASSEL posts net income of $0.14 million in Q1 2017

2017-05-02
PADICO reports net income of $4.71 million in Q1 2017

2017-05-02
AHC realizes net loss of JD0.53 million in Q1 2017

2017-05-02
ISBK posts net income of $3.04 million in Q1 2017

2017-05-02
BOP reports net income of $12.35 million in Q1 2017

2017-05-02
PID realizes net loss of JD0.01 million in Q1 2017

2017-05-02
BPC records net income of $2.92 million in Q1 2017

2017-05-02
PICO reports net income of $1.00 million in Q1 2017

2017-05-02
MIC posts net income of $0.31 million in Q1 2017

2017-05-02
JCC realizes net loss of JD0.06 million in Q1 2017

2017-05-02
JPH records net income of $1.60 million in Q1 2017

2017-05-02
GMC posts net income of JD0.25 million in Q1 2017

2017-05-02
NSC records net income of JD0.05 million in Q1 2017

2017-05-02
NCI records net income of $0.06 million in Q1 2017

2017-05-02
PRICO realizes net loss of JD0.13 million in Q1 2017

2017-05-02
ABRAJ records net income $0.08 million in Q1 2017

2017-05-02
ELECTRODE reports net income of JD0.01 million in Q1 2017

2017-05-02
PIIC records net income of JD1.70 million in Q1 2017

2017-05-02
LADAEN realizes net loss of JD 0.03 million in Q1 2017

2017-05-02
AZIZA posts net income of JD1.33 million in Q1 2017

2017-05-02
PALTEL records net income of JD18.04 million in Q1 2017

2017-05-02
AQARIYA posts net income of JD0.24 million in Q1 2017

2017-05-02
GUI reports income of $0.87 million in Q1 2017

2017-05-02
NIC posts net income of $1.54 million in Q1 2017

2017-05-02
TRUST reports net income of $1.74 million in Q1 2017

2017-05-02
TIC records net income of $0.82 million in Q1 2017

2017-05-02
QUDS posts net income of $3.94 million in Q1 2017

2017-05-02
ARAB records net income of JD0.029 million in Q1 2017

2017-05-02
PIBC posts net income of $0.98 million in Q1 2017

2017-05-02
PALAQAR reports net income of JD0.025 million in Q1 2017

 

 

 
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