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Al-Quds Index increases amid weak transactions

2016-12-08

Sahem Weekly Trading Report (04-08)-12-2016

Al-Quds Index ended its trading for this week in the green zone, to close at the level of 529.12 points; up by 1.17% than its previous weekly closing, after trading in a relatively wide price range amid more weighting to the positive price trends of the blue-chips and other stocks. However, the general liquidity in Palestine Stock Exchange was scarce amid lack of the general drivers and decline in the investors’ appetite that was touched through the slow transactions. On the other hand, the leading stocks acquired the majority of trading in the PEX despite its scarceness, and in parallel to the routine anticipation of the trading types for the end of the year. 

In the significant news, Palestine Investment Fund PIF announced offering 10% ( 6.00 million shares) of the capital of Sanad for Construction Industries, which is 56.66% owned by PIF and 43.33% owned by Aswaq Company for Investment Portfolios ( a subsidiary of PIF), for Initial Public Offering IPO with nominal value of $1 per share and premium price of $1.35 per share. The company works through three important sectors: the industry sector, the commercial sector and the logistics sector. Sand aims at leading the efforts of investment in industrial and production sectors of the PIF related to construction industries; especially the cement. However, the total issuance value of $14.10 million and the paid-up capital by the founders of $60.00 million will be used in financing the operation and investment activates of the company, to fulfil the company’s long term strategies; completing the cement mill and establishing strategic breakers. According to the announcement, Sanad’s shares will be listed in the PEX after getting the approvals from the PEX and Palestine Capital Market Authority. This will increase the investors’ choices and helps in supporting the market’s depth.

Regarding the trading, the stock of Palestine Telecommunications PALTEL- the largest company by market capitalization- topped the PEX when its transactions constituted 33.82% from PEX total trading value, to close at the level of JD5.10; up by 0.99% than its previous closing. Moreover, the stock of Bank of Palestine BOP- the largest bank by market capitalization- followed, when its transactions contributed in 24.50% from PEX total trading value, to increase by 1.56% and close at the level of $2.61. On the other hand, the stock of the Arab Palestinian Investment Company APIC stabilized at the level of $1.91, without any change than its previous closing and through transactions that constituted 10.80% from total trading value. It is good to note that APIC held an extraordinary general assembly meeting on Thursday 08/12/2016 and approved issuing bonds worth $35 million. In contrast, the stock of the largest company in the investment sector by market capitalization- Palestine Development and Investment Company PADICO- declined by 0.87% and closed at the level of $1.14 when its transactions contributed 5.23% from PEX total trading value.

 


 

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PSE realizes net loss of $0.27 million in Q1 2017

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JREI realizes net loss of $0.07 million in Q1 2017

2017-04-25
AIB reports net income of $1.55 million in Q1 2017

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WATANIYA realizes net loss of $1.12 million in Q1 2017

2017-04-25
NAPCO records net income of JD0.13 million in Q1 2017

2017-04-25
APIC approves distributing 6.06% stock dividends and 6% cash dividends for 2016

2017-04-25
APIC records net income of $3.57 million in Q1 2017

2017-04-23
PEC records net income of $3.60 million in Q1 2017

2017-04-23
TNB approves distributing 5% cash dividends for the year 2016

2017-04-23
Bravo realizes net loss of JD0.13 million in Q1 2017

2017-04-20
Medium liquidity in the quarterly disclosures and dividends distribution seasons

2017-04-20
PEC approves distributing 10% cash dividends for the year 2016

2017-04-19
TNB records net income of $2.77 million in Q1 2017

2017-04-18
BPC approves distributing 20% cash dividends for the year 2016

2017-04-18
VOIC records net income of JD1.07 million for Q1 2017

2017-04-13
Al-Quds Index declines amid anticipation elements’ overlapping

2017-04-13
TRUST approves distributing 15% cash dividends for the year 2016

2017-04-12
JPH proposes 10% cash dividends for the year 2016

2017-04-11
APC records net income of JD0.33 million in Q1 2017

2017-04-11
PIBC proposes 2.35% stocks dividends for the year 2016

2017-04-11
NSC recommends 10% cash dividends for the year 2016

2017-04-11
GUI approves distributing 10% cash dividends for the year 2016

2017-04-10
3G services in 6 months in the West Bank

2017-04-10
BOP approves distributing 2.56% stocks dividends and 10.44% cash dividends for the year 2016

2017-04-10
QUDS proposes distributing 12% stocks dividends for the year 2016

2017-04-06
Dividends approval momentum and a final agreement to run 3G frequencies in the Palestinian markets

2017-04-06
PALTEL approves distributing 40% cash dividends for the year 2016

2017-04-04
PADICO proposes distributing 5% cash dividends for the year 2016

2017-04-03
AIB approves raising its capital to $75 million and distributing 12% cash dividends for the year 2016

2017-04-02
NIC approves 20% cash dividends for the year 2016.

2017-04-02
ISBK approves raising its capital to $69 million and distributing 8.50% cash dividends for the year 2016.

 

 

 
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