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Companies initiate annual disclosures and dividends recommendations

2017-02-09

Sahem Weekly Trading Report (05-09)-02-2017

Al-Quds Index touched, in this week, levels that has abandoned since the first quarter of 2016, to rebound upward by 2.93% than its previous closing level and close at the level of 536.45 points with the return of the listed companies’ stocks- especially the blue-chips- to price levels that have declined from. This increase followed several consecutive weekly declines. Regarding the liquidity levels, it was slow and weak with the increase in the anticipation intensity coinciding with the approaching end of the legal period granted by Palestine Stock Exchange PEX to the listed companies to disclose their preliminary financial data disclosures.

Regarding this week’s trading, the stock of the largest company by market capitalization- Palestine Telecommunications PALTEL- topped the PEX by trading value when recorded $1.94 million. However, the stock returned to trade around levels that has dropped from lately, to close at the level of JD5.00 ; up by 3.09% than its previous closing level. In the banking and financial services sector, the transactions of Palestine Islamic Bank ISBK reached $1.53 million, to close at the level of $2.19; significantly up by 11.73% after trading in a relatively wide range. Moreover, the stock of Bank of Palestine BOP- the largest bank by market capitalization- increased by 1.48%, to close at the level of $2.74, through transactions worth $0.25 million. Furthermore, an increase was witnessed in the price of the leading stock of the Arab Palestinian Investment Company APIC by 0.53%, to close at the level of $1.90 through transactions worth $0.89 million. Also, the stock of the largest investment company by market capitalization- Palestine Development and Investment Company PADICO-  increased by 2.83%, to close at the level of $1.09 through transactions worth $0.46 million.

Regarding the substantial news, Palestine Electric Company PEC disclosed its annual financial data, noting posting net loss of $0.65 million for the year 2016; sharply down by 104.75% than the year 2015 after recording bad debts of $15.91 million in the year 2016. While according to the disclosure, PEC noted giving up $30 million accounts receivables by the Palestinian Energy and Natural Resources Authority to be recorded as bad debts. Accordingly, PEC records book value of $1.42 and P/BV of 0.89x. On the other hand, Palestine Telecommunications PALTEL disclosed posting net income of JD80.06 million in 2016; down by 3.62% than the year 2015. This decrease followed recording losses from investments of JD0.69 million in the year 2016. Accordingly, PALTEL records book value of JD4.21 and P/BV of 1.19x.

Regarding the dividends proposals for the year 2016, the board of directors of Global United Insurance Company GUI  proposed to the general assembly, which will be holding a meeting on 10/04/2017, distributing 10% cash dividends, to record dividends yield of 6.33% based on the current market price. Moreover, the board of directors of Palestine Telecommunications Company PALTEL raised a recommendation to the general assembly that will be holding a meeting on 05/04/2017, to distribute 40% cash dividends, to record dividends yield of 8.00% based on the current market price.

 


 

2017-08-17
Medium liquidity with the end of the legal semi-annual disclosures’ period

2017-08-16
PADICO posts net income of $7.46 million in H1 2017

2017-08-16
PRICO realizes net loss of JD1.28 million in H1 2017

2017-08-16
WASSEL reports net income of 0.07 million in H1 2017

2017-08-16
JCC reports net income of JD0.27 million in H1 2017

2017-08-16
AZIZA reports net income of JD2.20 million in H1 2017

2017-08-16
PID realizes net loss of JD0.03 million in H1 2017

2017-08-16
PIIC records net income of JD3.33 million in H1 2017

2017-08-16
PIBC records net income of $1.97 million in H1 2017

2017-08-16
LADAEN realizes net loss of JD0.50 million in H1 2017

2017-08-15
NCI reports net income of $0.15 million in H1 2017

2017-08-15
PALAQAR reports net income of JD0.07 million in H1 2017

2017-08-15
JREI realizes net loss of $0.17 million in H1 2017

2017-08-15
TIC records net income of $1.33 million in H1 2017

2017-08-15
NSC reports net income of JD0.13 million in H1 2017

2017-08-15
ABRAJ posted net income of $0.18 million in H1 2017

2017-08-14
AQARIYA reports net income of JD0.42 million in H1 2017

2017-08-14
BOP posted net income of $24.72 million in H1 2017

2017-08-14
TRUST posted net income of $2.83 million in H1 2017

2017-08-14
PICO reports net income of $2.13 million in H1 2017

2017-08-14
GMC posted net income of JD0.60 million in H1 2017

2017-08-14
JPH posted net income of $0.76 million in H1 2017

2017-08-14
GUI records net income of $0.96 million in H1 2017

2017-08-14
BPC reports net income of $6.02 million in H1 2017

2017-08-14
TNB records net income of $5.36 million in H1 2017

2017-08-14
PEC reports net income of $5.25 million in H1 2017

2017-08-13
ELECTRODE records net income of JD0.09 in H1 2017

2017-08-13
AIB reports net income of $4.01 million in H1 2017

2017-08-13
NAPCO records net income of JD0.18 million in H1 2017

2017-08-13
APIC reports net income of $7.87 million in H1 2017

2017-08-10
Al-Quds Index increases amid the semi-annual financial data disclosures’ domination

2017-08-09
ARAB records net income of JD0.05 million in H1 2017

2017-08-09
ISBK reports net income of $6.37 million in H1 2017

2017-08-09
APC records net income of JD0.70 million in H1 2017

2017-08-09
MIC posts net income of $1.00 million in H1 2017

2017-08-07
UCI reports net income of $0.54 million in H1 2017

2017-08-07
VOIC posts net income of JD3.39 million in H1 2017

2017-08-07
PSE realizes net loss of $0.10 million in H1 2017

2017-08-07
QUDS reports net income of $6.13 million in H1 2017

2017-08-07
PALTEL records net income of JD33.06 million in H1 2017

2017-08-07
BJP records net income of JD0.59 million in H1 2017

2017-08-03
Executing several transactions raises the market's trading value this week

 

 

 
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