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2017-11-09
Sahem Weekly Trading Report (05-09)-11-2017
Al-Quds Index balanced itself this week around its previous weekly closing level, to record a slight decrease of 0.64% when settled at 566.18 points. However, Palestine Stock Exchange PEX witnessed medium liquidity levels during this week, following executing a transaction of 1.43 million shares on the stocks of Palestine Investment Bank PIBC. On the other hand and with the disclosures’ completion of 46 companies out of 48 listed companies required to disclose their data by the end of the first nine months of 2017, the PEX records an average PE ratio of 12.2 and an average P/BV of 1.20x.
Regarding the data of the PEX’s sectors, the total profits of the services sector contributed by 36.27% from the total disclosed companies’ profits attributable to the parent companies; the highest contribution among all sectors. Whereby, 8 of the listed companies in the service sector recorded profits at the end of the first nine months of 2017; 3 companies out of them posted growth in profits, while 5 companies posted a decrease in profits. However, one company realized net loss in the period. It is worth mentioning that two companies couldn’t disclose their quarterly financial results in the legal period granted by the PEX. Moreover, Palestine Telecommunications Company PALTEL’s profits contributed in 90.58% from the total sector’s profits attributable to the parent companies, in which decreased in total by 19.30% compared to the corresponding period of last year. According to the disclosed data, the sector records average PE of 11.4x, and average P/BV of 1.28x.
Moreover, the banking and financial services’ sector contributed for 31.51% from the total disclosed companies’ profits attributable to the parent companies. Whereby, 86% of the disclosed companies in the sector recorded profits by the end of the first nine months of 2017, while, all the other companies recorded a decrease in profits. However, the sector recorded an increase of 9.08% in its total profits attributable to the parent companies compared to 9M 2016. While, Bank of Palestine BOP constitutes the lion’s share of 52.33% from the total profits attributable to the parent companies in the sector. According to the disclosed data, the average PE of the sector records 11.8x, and average P/BV hit 1.30x. In the insurance sector, 71% of the disclosed companies in the sector recorded an increase in profits attributable to the parent companies in 9M 2017, while, the sector’s profits attributable to the parent companies grew by 11.36% in 9M 2017. According to the disclosed data, the insurance sector records an average PE of 8.6x; the lowest value among all sectors, and records an average P/BV of 1.18x.
In the same context, the investment sector’s profits attributable to the parent companies increased by 5.20% in 9M 2017; to contribute in 13.16% from the total disclosed companies’ profits attributable to the parent company. Based on the disclosed data, the investment sector recorded the lowest P/BV among all sectors in the market with an average of 1.00x. While the average PE ratio hit 20.3x. Regarding the Industry sector, its profits attributable to the parent companies constituted 13.09% from the total disclosed profits attributable to the parent companies in the PEX, to record an increase of 22.21% in 9M 2017. Whereby, Birzeit Pharmaceuticals BPC and the Vegetable Oil Industries Company VOIC achieved the highest profits among the sector’s companies, in which both contributed for 52.54% from total sector’s profits attributable to the parent companies. Accordingly, the industry sector records an average PE of 9.11x and average P/BV of 1.18x.
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