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Weak trading in the PEX with the end of the holy month of Ramadan

2018-06-13

Sahem Weekly Trading Report (10-13)-06-2018

Al-Quds Index rebounded upwards by 1.50% in this week with four trading sessions, to end the second week of June and the last of the holy month of Ramadan at the level of 547.47 points; breaking through the 540 points level again in which has abandoned in the previous week. On the other hand, the trading in Palestine Stock Exchange PEX is still very weak and scarce. However, with the several and different reasons for the lack of liquidity, the majority of the Palestinian listed companies’ shareholders are still holding their financial positions, in hope to diminish all of these reasons to touch a reviving in the PEX in the coming period.

Regarding the PEX’s weekly trading performance, the absence of institutional transactions and high-volume ones was reflected with a weak trading value in the PEX that recorded around $2.55 million. Regarding the blue-chips, the stock of the largest company in the PEX in terms of market capitalization- Palestine Telecommunications PALTEL- increased noticeably by 3.49%, to close at the level of JD4.45 through transactions that hit $0.51 million. Moreover, the stock of the largest investment company by market capitalization- Palestine Development and Investment Company PADICO-  increased by 2.29%, to close at the level of $1.34 through transactions that reached $0.10 million. On another hand, the stock of the largest bank by market capitalization- Bank of Palestine BOP- stabilized at the level $2.50 without any change than its previous weekly closing level, after trading in a relatively narrow range and through transactions that reached $0.11 million. In another context, the leading stock of the Arab Palestinian Investment Company APIC topped the PEX by 45.05% in this week, to close at the level of $2.24; up by 2.75% than its previous weekly closing level.

In another context, the listed companies including some leading companies accelerated to determine dates for holding their board of directors meetings to discuss and approve the financial data for the end of May 2018 and other things. Whereby, the board of directors of Palestine Telecommunications PALTEL will be holding a meeting on 21/06/2018. Also, the board of directors of the Arab Palestinian Investment Company APIC will be holding a meeting on 26/06/2018. In the same context, the board of directors of Palestine Investment Bank PIBC will be holding a meeting on 25/06/2018.