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Al-Quds Index in a horizontal movement skewed to decline amid a scarcity in trading

2016-11-24

Sahem Weekly Trading Report (20-24)-11-2016

The motionlessness status imposed itself on Palestine Stock Exchange PEX this week, amid horizontal movement of Al-Quds Index that is skewed to decline through transactions between the levels of 522.34 and 523.63 points; on a lack of drivers in general. Moreover, Trading and price movements were slow this week, and liquidity was trapped around the prevailing trading prices amid rising anticipation for the remaining period of the year. Seasonal routines dominate this period, positions swaps among the listed shares and attempts to achieve portfolio valuation gains, opposed by financial settlements and profit taking transactions. Undoubtedly, the PEX has a special characteristics; enabling the investment decision to enter into sequenced anticipation with varied motives, links, and consequences, and creates its own seasonality and routines with features that are difficult to predict like the other surrounding markets.

The price performance of leading stocks this was similar, without significant activity for any of them, to end their trading with varied changing in price trends and weights in Al-Quds Index. Whereby, the stock of the Arab Palestinian Investment Company APIC declined by 1.03%, to close at the level of $1.92, after transactions that constituted 35.49% from PEX total trading value of the week. It is good to note that APIC will be holding its extraordinary general assembly GA meeting on 08/12/2016 to approve issuing bonds worth $35 million, in order to pay off the current bonds and outstand bank debt of the company, and increase the paid-up capital of one of its subsidiaries, in addition to financing other investments. The stock of Palestine Telecommunications PALTEL followed when its transactions contributed 20.28% from PEX total trading value, to decline by 0.20% and close at the level of JD5.09. The BOD of the company approved the proposals of renewing the license and delegated the chairman of the board to finally negotiate and sign on the license renewal. The license fees, conditions and exemptions that could have been granted, have not been known yet.

Moreover, the leading stock of Palestine Development and Investment Company PADICO declined by 1.71%, to close at the level of $1.15 through transactions that contributed 4.48% from total trading value. On the other hand, the stock of Bank of Palestine BOP – the largest bank by market capitalization- witnessed no change and closed at the level of $2.56, through transactions worth 13.56% from PEX total trading value. On another hand and away from trading, the PEX was elected as a member of the Executive Council the Federation of European and Asian Stock Exchanges (FEAS)’s Board of Directors by a majority of members participating votes, though the annual general assembly meeting.

 


 

2017-11-16
Al-Quds Index in the red zone amid lack of drivers

2017-11-12
Bank of Palestine opens a representative office in Chile

2017-11-09
The PEX records average PE ratio of 12.2x in 9M 2017

2017-11-08
GUI posts net income of $0.80 million in 9M 2017

2017-11-08
AIG reports net income of $1.21 million in 9M 2017

2017-11-02
A decline in Al-Quds Index with the end of the disclosures’ legal period

2017-11-01
RSR records net income of JD0.43 million in 9M 2017

2017-11-01
NSC posts net income of JD0.24 million in 9M 2017

2017-11-01
TIC records net income of $1.79 million in 9M 2017

2017-11-01
PICO reports net income of $2.16 million in 9M 2017

2017-11-01
AQARIYA records net income of JD0.40 million in 9M 2017

2017-11-01
PRICO realizes net loss of JD3.97 million in 9M 2017

2017-11-01
TRUST reports net income of $3.40 million in 9M 2017

2017-11-01
MIC posts income of $1.01 million in 9M 2017

2017-11-01
PADICO posts net income of $11.95 million in 9M 2017

2017-11-01
BOP records net income of $38.54 million in 9M 2017

2017-11-01
WASSEL records net income of $0.02 million in 9M 2017

2017-11-01
AIB reports net income of $5.83 million in 9M 2017

2017-11-01
NIC posts net income of $4.04 million in 9M 2017

2017-11-01
JPH reports net income of $1.91 million in 9M 2017

2017-11-01
JREI realizes net loss of $0.22 million in 9M 2017

2017-11-01
AHC realizes net loss of JD1.10 million in 9M 2017

2017-11-01
ELECTRODE posts net income of JD0.05 million in 9M 2017

2017-11-01
PID posts net income of JD 0.01 million in 9M 2017

 

 

 
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