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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.

 


 

2017-05-25
Dividends yield reports 5.8% in the PEX

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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