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Scarce liquidity in the PEX and 3G mobile networks in the West Bank by the end of January

2018-01-18

Sahem Weekly Trading Report (14-18)-01-2018                                                                        

Palestine Stock Exchange PEX continued to sequentially gain since the beginning of the current year, to end the third week with gains of 0.82% and close at the level of 582.85 points after breaking through the 580 points level in this week. Whereby, the liquidity levels are still scarce and price movements are still relatively quiet in the market. However with this routine period, the listed companies’ boards of directors sequence to announce holding their meetings to discuss 2017’s financial results in order to disclose their annual profits, however, the preliminary annual financial data disclosure anticipation firstly remains on the investors agendas, in expectation to the yields that may be achieved in form of dividends to compensate any capital losses.

Regarding this week’s trading, the stock of Palestine Telecommunications Company PALTEL – the largest company by market capitalization and the highest weighted stock in Al-Quds Index- topped the PEX this week when its transactions  recorded $1.64 million, to close at the level of JD4.73; up by 2.83% than its previous weekly closing level after trading in a relatively wide range. On the other hand, the stock of the largest investment company by market capitalization – Palestine Development and Investment Company PADICO - stabilized at the level of $1.45 without any change than its previous weekly closing level after transactions that reached $0.19 million. It is worth mentioning that the board of directors BOD of the company will be holding a meeting on 12/02/2018, whereby, will discuss the financial statements FY2017 and the budget for 2018. Moreover, in the banking and financial services sector, the stock of the largest bank by market capitalization – Bank of Palestine BOP – decreased by 0.38% than its previous weekly closing level, to record $2.61 after transactions worth $0.25 million. Also, the stock of Palestine Investment Bank PIBC closed at the level of $1.35; down by 5.59% than its previous weekly closing level after transactions worth $0.42 million. However regarding the trading activity, the stock of the Vegetable Oil Industries Company VOIC increased significantly by 5.00% than its previous weekly closing level, to close at the level JD13.66 after transactions that did not exceed $5 thousands.  

Regarding the significant news this week, a Palestinian administrator noted that the two cellular providers Jawwal – owned by Palestine Telecommunication Company “PALTEL Group”- and Wataniya Palestine Mobile Telecommunications WATANIYA will launch 3G mobile networks for customers in the West Bank by the end of January 2018, where this service will not extend into Gaza Strip at this stage, noting that Wataniya Mobile and Jawwal presently offer only 2G services in Gaza. Moreover, it is worth mentioning that in 2015, Israel and the Palestinian Authority signed an agreement to allow 3G networks to operate in the West Bank, but the implementation was delayed by Israel.


 

2018-02-19
APC reports net income of JD1.20 million at the end of 2017

2018-02-19
PIBC reports net income of $3.91 million at the end of 2017

2018-02-19
PID realizes net loss of JD0.01 million at the end of 2017

2018-02-19
PRICO realizes net loss of JD13.49 million at the end of 2017

2018-02-19
RSR reports net income of JD0.48 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
JCC posts net income of JD0.51 million at the end of 2017

2018-02-19
ABRAJ records net income of $2.25 million at the end of 2017

2018-02-18
WASSEL posts net income of 0.06 million at the end of 2017

2018-02-18
SANAD records net income of $10.05 million at the end of 2017

2018-02-18
BPC records net income of $10.28 million at the end of 2017

2018-02-18
PADICO posts net income of $5.68 million at the end of 2017

2018-02-18
WATANIYA realizes net losses of $6.64 million at the end of 2017

2018-02-18
NCI posts net income of $0.16 million at the end of 2017

2018-02-18
AHC realizes net losses of JD1.52 million at the end of 2017

2018-02-18
AIB posts net income of $6.40 million at the end of 2017

2018-02-18
JPH records net income of $6.18 million at the end of 2017

2018-02-18
AIG posts net income of $3.12 million at the end of 2017

2018-02-18
JREI posts net income of $0.01 million at the end of 2017

2018-02-18
MIC posts net income of $3.26 million at the end of 2017

2018-02-18
LADAEN records net losses of JD0.05 million at the end of 2017

2018-02-18
PIIC records net income of JD5.50 million at the end of 2017

2018-02-18
AZIZA posts net income of JD3.18 million at the end of 2017

2018-02-18
APC proposes 50% cash dividends for the year 2017

2018-02-18
PALTEL recommends 40% cash dividends for the year 2017

2018-02-18
GUI proposes 20% stocks dividends and 10% cash dividends for the year 2017

2018-02-18
NIC proposes 25% stocks dividends and 25% cash dividends for the year 2017

2018-02-18
ELECTROODE proposes 12% cash dividends for the year 2017

2018-02-18
NAPCO proposes 5% cash dividends for the year 2017

2018-02-18
BOP proposes 13.5% cash dividends for the year 2017

2018-02-18
TRUST proposes 50% stocks dividends and 20% cash dividends for the year 2017

2018-02-15
A momentum in the dividends proposals and varied financial performance for the blue-chips

2018-02-15
TNB posts net income of $9.20 million at the end of 2017

2018-02-15
AQARIYA posts net income of JD 0.39 million at the end of 2017

2018-02-15
PALTEL posts net income of JD70.53 million at the end of 2017

2018-02-15
PALAQAR records net income of JD3.77 million at the end of 2017

2018-02-15
GUI records net income of $3.77 million at the end of 2017

2018-02-15
PEC posts net income of $8.64 million at the end of 2017

2018-02-15
GMC posts net income of JD1.78 million at the end of 2017

2018-02-15
TIC records net income of $2.19 million at the end of 2017

2018-02-15
BJP posts net income of JD1.64 million at the end of 2017

2018-02-15
ISBK records net income of $14.53 million at the end of 2017

2018-02-15
PICO reports net income of $4.79 million at the end of 2017

2018-02-13
TRUST records net income of $5.43 million at the year 2017

2018-02-13
PSE reports net income 0.68 million at the year 2017

2018-02-13
BPC proposes 2.7% stocks dividends and 20% cash dividends for the year 2017

2018-02-13
ELECTRODE posts net income JD0.07 million at the year of 2017

2018-02-12
VOIC posts net income of JD6.83 million at the end of 2017

2018-02-11
APIC reports net income of $17.44 million at the end of 2017

2018-02-08
Inactivity state in the market with the approaching end of the disclosures’ period

2018-02-08
VOIC recommends 60% cash dividends for the year 2017

2018-02-07
QUDS posts net income of $11.18 million for the year 2017

2018-02-06
ARAB reports net income of JD0.05 million for the year 2017

2018-02-05
PCMA and JSC signed memorandum of understanding

2018-02-05
BOP proposes distributing 13.5% cash dividends for the year 2017

2018-02-05
Nasdaq and Palestine Exchange sign new market technology agreement

2018-02-05
BOP reports net income of $54.00 million at the end of 2017

2018-02-01
NAPCO records net income of JD0.46 million at the end of 2017

2018-02-01
Several transactions in the PEX and the companies have started their disclosures

 

 

 
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