 send to a friend by email
2017-02-02
Sahem Weekly Trading Report (29-01)-(02-02)-2017
With the expectations’ variation among investors regarding the listed companies’ profits of the year 2016 and their recommendations regarding distributing dividends for the investors, Al-Quds Index declined for the third week respectively, to close at the level of 521.18 points; down by 0.17% than its previous weekly closing level. On the other hand, the liquidity levels increased in this week than the previous ones following executing several transactions with different volume. With the start of February, the anticipation increases coinciding with the approaching end of the legal period granted by Palestine Stock Exchange PEX to the listed companies to disclose their preliminary annual financial data.
Regarding this week’s trading, the stock of the largest company by market capitalization- Palestine Telecommunications PALTEL- topped the PEX for the second week in row when recorded trading value of $3.64 million; constituting 51.30% from PEX total trading value, supported by executing a transaction with a volume of 350 thousand shares. PALTEL increased by 1.04%, to close at the level of JD4.85. Moreover, trading was active on the stock of the Arab Palestinian Shopping Center BRAVO, to close at the level of JD1.37; up by 0.74% than its previous closing level after executing two transactions during the week to record trading value of $0.81 million. Regarding the stock of largest bank by market capitalization- Bank of Palestine BOP- it closed at the level of $2.70; down by 1.46% than its previous closing level and after transactions worth $0.91 million. Moreover the leading stock of the Arab Palestinian Investment Company APIC stabilized at the level of $1.89 without any change than its previous closing level and after transactions worth $0.75 million. On the other hand, the stock of the largest investment company by market capitalization- Palestine Development and Investment Company PADICO- declined by 0.93%, to close at the level of $1.06 after scarce transactions that didn’t exceed $95 thousand.
Regarding the significant news, specialists in the banking sector, during “The Reality of the Palestinian Banking Sector: Opportunities and Challenges” Conference in Jordan which was held between 30 and 31 January 2017 in participation of Palestine Monetary Authority and other Arabic and Palestinian banking institutions, called to establish an Arab Palestinian Fund to finance the investment projects for the support of the Palestinian economy; stressing the importance of the Arabic capital initiative to invest in various economic and financial sectors in Palestine, and encouraging the Arab banks to support the productive projects and initiatives to promote a greater contribution in the development. Moreover, they emphasized the importance of increasing the investment in Jerusalem and providing additional funding to finance the SMEs and ultrafine projects in Palestine. On the other hand, they stressed the importance of taking procedures to ease the investment in Palestine especially with the availability of success investment opportunities in the Palestinian environment.
|
|
-trade
