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Scare liquidity amid the start of financial disclosures flow

2017-10-19

 

 

Sahem Weekly Trading Report (15-19)-10-2017

In this week, the pace of financial disclosures about the financial and operating performance of the listed companies for the first 9M 2017 accelerated, especially with approaching the end of the granted legal period that finishes by the end of the month. With the varied performance of the disclosed companies, Al-Quds Index decreased this week by 1.59% than its previous weekly closing level, to record 577.78 points. This followed price declines for most of the leading shares with the heaviest weights. On the other hand, the liquidity indicator, which is a core engine for breaking the support and resistance level, didn’t witness any substantial change, whereby, liquidity is still trapped within investors conservatism and characterized by relative weakness.

 

Among the financial disclosures this week, Palestine Electric Company PEC announced achieving net income of $6.35 million for the first nine months of 2017 compared to net income of $14.13 million in the same period a year ago, a net decrease of 55.09%. This followed an increase in operating and financing expense and a decrease in the Company’s other revenues. based on the disclosure PEC records book value BV of $1.42 and P/BV of 0.96x.   

 

In the banking and financial services sector, The National Bank TNB announced achieving net income of $7.06 million in the first nine months of 2017; up by 23.78% than the same period a year ago. This mainly followed the increase in net interests and commissions by 19.07% in the first nine months of 2017 compared to the same period a year ago. Based on the disclosed data, TNB records BV of $1.27 and P/BV of 1.44x. On the other hand, The Palestinian Islamic Bank ISBK announced achieving a slight increase in income of 2.22% in the first nine months of 2017 compared to the same period a year ago, to record $9.64 million. This mainly followed an increase by 9.74% in the bank’s share of investment and financing revenue. Moreover, based on the disclosure the bank records BV of $1.51and P/BV of 1.42x.


 

2017-11-16
Al-Quds Index in the red zone amid lack of drivers

2017-11-12
Bank of Palestine opens a representative office in Chile

2017-11-09
The PEX records average PE ratio of 12.2x in 9M 2017

2017-11-08
GUI posts net income of $0.80 million in 9M 2017

2017-11-08
AIG reports net income of $1.21 million in 9M 2017

2017-11-02
A decline in Al-Quds Index with the end of the disclosures’ legal period

2017-11-01
RSR records net income of JD0.43 million in 9M 2017

2017-11-01
NSC posts net income of JD0.24 million in 9M 2017

2017-11-01
TIC records net income of $1.79 million in 9M 2017

2017-11-01
PICO reports net income of $2.16 million in 9M 2017

2017-11-01
AQARIYA records net income of JD0.40 million in 9M 2017

2017-11-01
PRICO realizes net loss of JD3.97 million in 9M 2017

2017-11-01
TRUST reports net income of $3.40 million in 9M 2017

2017-11-01
MIC posts income of $1.01 million in 9M 2017

2017-11-01
PADICO posts net income of $11.95 million in 9M 2017

2017-11-01
BOP records net income of $38.54 million in 9M 2017

2017-11-01
WASSEL records net income of $0.02 million in 9M 2017

2017-11-01
AIB reports net income of $5.83 million in 9M 2017

2017-11-01
NIC posts net income of $4.04 million in 9M 2017

2017-11-01
JPH reports net income of $1.91 million in 9M 2017

2017-11-01
JREI realizes net loss of $0.22 million in 9M 2017

2017-11-01
AHC realizes net loss of JD1.10 million in 9M 2017

2017-11-01
ELECTRODE posts net income of JD0.05 million in 9M 2017

2017-11-01
PID posts net income of JD 0.01 million in 9M 2017

 

 

 
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