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Variations in market and financial performances

2016-11-03

Sahem Weekly Trading Report (30-10)-(03-11)-2016

The legal period granted for the listed companies to disclose their 9M 2016 financial data has ended. Accordingly, 46 companies out of 48 listed companies disclosed posting net income attributable to the shareholders of the parent company of $237.77 million in 9M 2016 compared to net income of $204.37 million in 9M 2015; up by 16.34%. Based on the announced data, the net income of the services sector contributes in 43.90% from total PEX’s net income. The net income of the banking and financial services sector follows by contributing in 28.40% from PEX total trading value; followed by the investment sector by 12.29%, industry sector by 10.77% and insurance sector by 4.63%. It is worth mentioning that one company from each services and insurance sectors hasn’t disclosed its financial data yet. Regarding the data, the PEX records average PE ratio of 10.45x and average P/BV of 1.11x. However, the average PEX ratios of the sectors range between 9.55x and 14.28x, while average P/BV of the sectors range between 0.74x and 1.32x.

In the market and the disclosures’ reflection on the trading, Al-Quds Index traded in 7-points price range that ended with slight increase in effect of weighing the positive trend of some of the blue-chips with the better disclosures than other companies. The performance of Birzeit Pharmaceuticals Company BPC was the most noticeable this week, when its transactions recorded 32.04% from PEX total trading value after executing several cross transactions with high volume, to close at the level of $4.50; up by 5.14%. This followed posting an increase of 36.14% in net income attributable to the shareholders of the parent company. Moreover, the stock of the Arab Palestinian Investment Company APIC returned to be active due to strong price trend supported by leverage liquidity that contributed in 21.48% from PEX total trading value during the week. APIC recorded a new historical price level, to close at the level of $1.90; up by 3.26% than the previous week. Financially, APIC announced a growth in the net income attributable to the parent company of 29.44%.

In the blue-chips, the transactions of Palestine Telecommunications Company PALTEL contributed in 18.89% from PEX total trading value, to decrease by 0.20% and close at the level of JD5.08. It is good to note that the company noted posting a decrease in its net income by 1.35% in 9M 2016. On the other hand, the stock of Palestine Development and Investment Company PADICO noted posting a decrease in its net income attributable to the shareholders of the parent company by 7.48%, to trade in low levels during the week, and close at the level of $1.17, without any change than the previous week and after transactions that contributed 1.83% from total trading value. However and after a significant stability at the level of $2.50, the stock of Bank of Palestine BOP increased this week by 0.80%, to close at the level of $2.52 after transactions worth 15.18% from PEX total trading value. This followed an increase in net income attributable to the shareholders of the parent company by 14.67%.