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New anticipations appear with the start of June

2017-06-01

Sahem Weekly Trading Report (28-05)-(01-06)-2017

Al-Quds Index ended this week in the green zone, to close at the level of 530.17 points; up by 0.19% than its previous closing level. Whereby, the scarce liquidity and trading rigidity in Palestine Stock Exchange PEX are most obvious during this period. However, with the end of May and start of June in the year 2017, new anticipations appear towards the mid-year financial data disclosures for the listed companies in the PEX. While the cash dividends distribution effects especially on the leading stocks significantly results in a decrease in Al-Quds Index during the last two months, especially with the semi-absence of any updates on the general and political arena.

 

Regarding this week’s trading, Palestine Development and Investment Company PADICO - the largest Investment company by market capitalization - topped the PEX in terms of trading value when recorded $1.98 million. The stock increased by 2.36% compared to the previous week, to close at the level of $1.30. However, regarding the largest company in the PEX in terms of market capitalization – Palestine Telecommunication PALTEL - its transactions recorded $0.79 million, to stabilize at the level of JD4.70, without any change than its previous weekly closing level and after trading in a relatively narrow range. On the other hand, trading was active on the shares of the largest bank by market capitalization – Bank of Palestine BOP –, after executing a cross transaction, to record trading value of $1.95 million in this week. However, BOP stabilized at the level of $2.45, without any change than its previous weekly closing level. 

 

Regarding this week’s significant news, Nakheel Palestine for Agricultural Investment “Nakheel Palestine”- a subsidiary of Palestine Development and Investment Company PADICO- signed an agreement with the French institution “PROPARCO”. Based on this agreement, PROPARCO granted a $10 million loan to Nakheel Palestine in order to finance its expansion projects and plans in the coming period. Whereby, Nakheel Palestine is seeking to increase its investments in the cultivation of "Medjoul dates”, as the company's production is expected to increase by about 40% in the coming period. It is worth mentioning that Nakheel Palestine specializes in the cultivation, packaging and promoting of the Palestinian dates “Medjoul and Barhi”. Its agricultural farms are located in the categorized C area nearby Jericho and are considered the largest labor operator of the Palestinian working hand, and a major substitute to working in the Israeli settlements. This agreement is considered the first from its type in Palestine, and as it is expected from the company’s board of directors BOD, it will allow the company to increase its production and expand worldwide, in addition to entering new markets.

 

In another context, The Arab Hotel Company AHC announced signing a franchising memorandum of understanding with “Millennium Hotels and Resorts”, a leader in the global hospitality industry. This is considered the first step to start a franchise partnership between “Yabous Company”, a subsidiary of Palestine Investment Fund PIF- the major investor of AHC- and Millennium Hotels and Resorts. This hotel, the former known as “Movenpick Hotel”, is supposed to open its doors under the new management -Millennium Hotels and Resorts- in mid-June 2017. On another hand, Jerusalem Cigarette Company JCC announced the start to produce reduced-excise cigarettes in partnership with Palestine Investment and Development Company PID to be marketed in the Palestinian markets. This is supposed to contribute in increasing the company’s profits in the coming period.

 


 

2020-05-21
Idleness in trading prior to Eid Al-Fitr holiday

2020-05-21
PIBC approves distributing 4% cash dividends for the year 2019

2020-05-20
APIC proposes distributing 6.74% cash dividends and 6.74% stocks dividends for the year 2019

2020-05-20
UCI posts net income of $0.15 million in Q1 2020

2020-05-19
MIC posts net income of $0.56 million in Q1 2020

2020-05-19
TIC posts net income of $0.83 million in Q1 2020

2020-05-18
SANAD realizes net loss of $0.55 million in Q1 2020

2020-05-18
WASSEL posts net income of $0.03 million in Q1 2020

2020-05-18
TNB posts net income of $7.80 million in Q1 2020

2020-05-18
ELECTRODE realizes net loss of JD0.004 million in Q1 2020

2020-05-18
GUI posts net income of $0.77 million in Q1 2020

2020-05-18
AQARIYA posts net income of $0.08 million in Q1 2020

2020-05-18
JCC posts net income of JD0.09 million in Q1 2020

2020-05-18
OOREDOO posts net income of $1.28 million in Q1 2020

2020-05-18
TRUST posts net income of $1.18 million in Q1 2020

2020-05-17
NCI records net income of $0.09 million in Q1 2020

2020-05-17
PID realizes net loss of JD0.52 million in Q1 2020

2020-05-17
PRICO realizes net loss of JD0.29 million in Q1 2020

2020-05-17
RSR posts net income of JD0.07 million in Q1 2020

2020-05-17
NIC reports net income of $1.18 million in Q1 2020

2020-05-17
PADICO realizes net loss of $0.52 million in Q1 2020

2020-05-17
JPH posts net income of $1.22 million in Q1 2020

2020-05-17
ISBK records net income of $3.09 million in Q1 2020

2020-05-17
JREI realizes net loss of $0.03 million in Q1 2020

2020-05-17
PALTEL posts net income of JD7.03 million in Q1 2020

2020-05-14
Scarce trading and a momentum in the substantial news

2020-05-13
BPC reports net income of $0.99 million in Q1 2020

2020-05-13
VOIC posts net income of JD0.33 million in Q1 2020

2020-05-13
AZIZA posts net income of JD0.99 million in Q1 2020

2020-05-13
LADAEN posts net income of JD0.009 million in Q1 2020

2020-05-13
PIIC posts net income of JD0.64 million in Q1 2020

2020-05-13
PSE realizes net loss of $0.01 million in Q1 2020

2020-05-13
JPH approves distributing 10% cash dividends for the year 2019

2020-05-13
ELECTRODE approves distributing 6% cash dividends for the year 2019

2020-05-10
PEC reports net income of $2.85 million in Q1 2020

2020-05-10
AIB posts net income of $2.00 million in Q1 2020

2020-05-10
GMC posts net income of JD0.19 million in Q1 2020

2020-05-10
ABRAJ posts net income of $0.08 million in Q1 2020

2020-05-07
Al-Quds Index in the red zone amid the start of Q1 2020 financial data disclosures

2020-05-05
PALTEL starts to pay the approved dividends distribution

2020-05-05
NAPCO realizes net loss of JD0.29 million in Q1 2020

2020-05-05
APIC posts $5.12 million net income in Q1 2020

 

 

 
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