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Slight fluctuations in Al-Quds Index in a short trading week

2018-06-21

Sahem Weekly Trading Report (19-21)-06-2018

In the penultimate week of June, Al-Quds Index witnessed slight fluctuations despite the price fluctuations variation of the blue-chips with the highest weights amid the partial absences of internal circulation, to close at the level of 546.63 points; down by 0.15% than its previous weekly closing level. Whereby, the trading sessions of this week were limited to three after the end of Al-fiter holiday. However, with the increase in the anticipation for the semi-annual financial data disclosures of the year 2018 which ends mid-August, the listed companies accelerated to determine dates to hold their board of directors’ meeting to discuss their financial data before disclosure.

Regarding the significant news of the listed companies this week, the stock of Union Construction and Investment Company UCI was resumed to trading this week starting from the trading session of Thursday 21/06/2018 due to not completing the necessary procedures of changing the legal form of the company from public shareholding company to private shareholding company. It is worth mentioning that the general assembly of the company approved, in its extraordinary meeting last March, to change the legal form of the company. However, based on the decision, UCI was halted from trading in the Palestine Stock Exchange PEX from the general assembly meeting date until the companies’ controller make the appropriate decisions about whether to approve or reject the conversion process. Also, based on the decision all the transferring processes were suspended in the Clearing, Depository and Settlement Center CDS except for the inheritance transfers until a decision is made. On the other hand and in the market, UCI closed at the level of $0.44; up by 2.33% than its previous closing level, after transactions worth $0.04 million.

In the market, the performance of one stock was not distinguished from any other in this week. Whereby, the trading value in the PEX was very weak with scarce liquidity. While regarding the leading stocks, the transactions of Palestine Telecommunications Company PALTEL- the largest company in terms of market capitalization- constituted 4.37% from total trading value in the PEX. While the transactions of the largest investment company in the PEX- Palestine Development and Investment Company- contributed for 1.07% from PEX total trading value. Also, the transactions of the largest bank in terms of market capitalization- Bank of Palestine- constituted 16.44% from total trading value of the PEX. In the same context, the transactions of the leading stock of the Arab Palestinian Investment Company APIC contributed for 40.12% from the total trading value of the week.


 

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JCC reports net income of JD0.27 million in H1 2020

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PIBC posts net income of $1.21 million in H1 2020

2020-09-03
GMC posts net income of JD0.28 million in H1 2020

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WASSEL realizes net loss of $0.19 million in H1 2020

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AHC realizes net income of JD1.49 million in H1 2020

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JPH posts net income of $1.17 million in H1 2020

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