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Relative quietness in the PEX with the increasing anticipation for the annual disclosures


 Sahem Weekly Trading Report (08-11)-01-2018                                                                        

The trading sessions of the second week of 2018 were not characterized with any quality, whereby, the routine movements with their price effects receded in Palestine Stock Exchange PEX this week and the conservatism controlled the investors’ behavior coinciding with the routinely anticipation for the listed companies’ annual financial data and what will devolve in their financial decisions accordingly. Moreover, Al-Quds Index closed at the level of 578.10 points this week; up by 0.59% than its previous weekly closing level. Regarding the liquidity indicators, it was slow with entering the routine season of moving between the listed companies’ stocks- especially the blue-chips based on the return on investment estimations. However, with the entry of the year 2018, the routine cycle starts in the stock market, which with its sequences stages; the price impact varies with the variation in traders’ behaviors. The fiscal year ends and the annual financial disclosures start, then the dividends’ distribution decisions’ announcements follow, then the entitlements come next, and finally measuring the return on investment. This comes with efficient price reflections and well-expected routine cycles if other factors remain constant.

Regarding the price dynamics, the current price of Palestine Telecommunications Company PALTEL- the largest company by market capitalization and the highest weighted stock in Al-Quds Index- records premium to 52-weeks low of 3.14%, and discount to 52-weeks high of 11.37%. Moreover, the stock of the largest investment company by market capitalization - Palestine Development and Investment Company PADICO- records, based on the current price, premium to 52-weeks low of 43.56%, and discount to 52-weeks high of 11.59%. However, regarding the stock of the largest bank by market capitalization- Bank of Palestine BOP-, it records premium to 52-weeks low based on the current price of 9.17%, and discount to 52-weeks high of 8.07%. On the other hand, the leading stock of the Arab Palestinian Investment Company APIC, reports, based on the current price, premium to 52-weeks low of 26.54% and the same discount to 52-weeks high without any percentage change.

Regarding the significant news this week, the general assembly GA of Wataniya Palestine Mobile Telecommunications WATANIYA will be holding an extraordinary meeting on 23/01/2018, whereby, will discuss raising the paid-up capital from $258.00 million to $293.00 million through offering $35.00 million shares for secondary subscription to the company’s shareholders each according to his contribution as for the extraordinary general assembly meeting date. Moreover in the market, WATANIYA’s stock achieved gains this week by 2.70% than its previous weekly closing level, to record $1.14 after transactions worth $0.39 million.



VOIC records net income of JD6.61 million in 9M 2023



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