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The PEX records significant gains than its yearly closing in 2016

2017-12-28

 

Sahem Weekly Trading Report (24-28)-12-2017                                                                        

Palestine Stock Exchange PEX is approaching to conclude the current year 2017 through the promotion of its exceptional investment feasibility and a relatively moderate performance despite the fluctuations that occur on the political and economic level and following its distinguished entity, compared to the other neighboring markets, of being able to isolate itself from any external influences. Moreover, with a new optimism for what may the coming year hold of exceptional investment opportunities and increase in liquidity -whether individual or institutional – and maintaining moderate performance, Al-Quds Index ended the week with four trading sessions with a slight decline of 0.02% than its previous weekly closing level, to record 573.22 points. However, it achieved significant gains of 8.12% than its yearly closing at the end of 2016 and gains of 10.71% than its lowest level recorded during the year which was witnessed in April. However, the anticipation grows for the year 2018 for the listed companies’ achieved financial results and dividends distribution announcements and what may follow of boosting in the market capitalization and improving in the market in general.

On the other hand, other positive indicators are reported to draw an initial image of what the coming year may hold, including new economic data that showed an increase in the Palestinian Gross Domestic Product GDP during Q3 2017 by 5.00% compared to the corresponding period of the previous year 2016 and by 3.20% during 2017 compared to 2016, which in turn reflects a growth in the domestic production. Moreover, the preliminary estimates indicated an increase in the number of employed persons in the Palestinian labor market by 2.50% in 2017 compared to 2016. And indicated that the value of exports increased by 4.20% compared to 2016 and the value of imports increased by 2.80% compared to 2016. Also, the preliminary estimates showed that the average of overall Consumer Prices Index in Palestine recorded a slight increase of 0.25% during 2017 compared to 2016.

Regarding the significant news of this week, the cornerstone of the second phase of the Jericho Agro Industrial Park JAIP has been laid; this project is a partnership between AMAAR Group – the investment arm of Palestine Investment Fund PIF in the real estate sector- and Palestine Real Estate Investment Company PRICO - the investment arm of Palestine Development and Investment Company PADICO in the real estate sector -. Whereby, this project, which is considered the largest Japanese project in Palestine and which is located in Jericho and Jordan Valley Governorate, is a model of investment in Jericho lands and the threatened Jericho valleys and a gate to exploit and manufacture of agricultural resources. Where, this industrial city is an integrated environment that meets the needs of the Palestinian market, maximizes the national exports and encourages agricultural and industrial investment. It is worth mentioning that the second phase of JAIP will be executed an area of 100 dunums including 50,000 square meters for factories, approximately 8,000 square meters for facilities of industrial services and 17,000 square meters for logistic services.


 

2018-01-11
Relative quietness in the PEX with the increasing anticipation for the annual disclosures

2018-01-08
WATANIYA discusses raising its paid-up capital to $293 million

2018-01-04
The PEX opens the year 2018 in optimism

2018-01-03
The PEX modifies AL-Quds Index composition for the year 2018

 

 

 
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