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Sahem Weekly Trading Report (27-11)-(01-12)-2016
Palestine Stock Exchange PEX enters during this period in new routine anticipation with political character. Despite the relative similarity of this period to previous years, but the statistical impact hadn’t been much quantified on the investment appetite or its enclosure. This followed the clear motionlessness status in the PEX despite variations from time to time, which come on some swap deals or exits or any other reason. Away from the anticipation drivers which accelerate throughout the year, this year has witnessed significant increase in trading value and volume as an effect of the record deals. However, the observer and opportunity catcher will not detect any change- regardless its size and trend- - unless with significant features in foundations that will enable the economic growth from one side and the investment from the other side.
The status of heavy decline in the liquidity levels which dominated the trading process for several weeks continued this week too, but the relative stability in the leading stocks contributed in a horizontal trading of Al-Quds Index. In this context, the stock of the Arab Palestinian Investment Company APIC topped the PEX when its transactions contributed in 32.14% from PEX total trading value, to close at the level of $1.91, down by 0.52% than the previous week. The stock of Palestine Telecommunications PALTEL- the largest company by market capitalization- followed when its transactions contributed in 27.10% from total trading value, to decline by 0.79% and close at the level of JD5.05 amid anticipation for the rules and cost of renewing the license. While the stock of Palestine Development and Investment Company PADICO- the largest investment company by market capitalization- stabled at $1.15 without any change, through transactions that contributed in 10.91% from PEX total trading value. On the other hand, the stock of Bank of Palestine BOP – the largest bank by market capitalization- increased by 0.39% to close at the level of $2.57, after transactions that didn’t exceed 7.42% from total trading value.
However, this week witnessed scarcity in the significant news and events of the listed companies. Therefore, the last month of the year will be dominated by anticipation among investors for the final outlook for the financial data disclosures of the year 2016. Regarding some news, it has been announced that Bank of Palestine has joined The Global Alliance for Banking on Values, to be the first bank in the Arab region and the Middle East that have membership of the alliance. According to the announcement, the bank matched several standards and principles for this membership, including: being part of the country that works in, has investment in the real economy, shrewd lending policy, long term commitment with clients, solid financial position and adequate profitability, transparency in financial reporting and operations and actually practice these principles.