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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.

 


 

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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