 send to a friend by email
2018-06-28
Sahem Weekly Trading Report (24-28)-06-2018
Palestine Stock Exchange PEX witnessed a slight recovery in its trading this week, which was due to executing several small to medium volume transactions on some of the leading stocks and other stocks in most of the operating sectors in the market except for the services sector. Despite this, Al-Quds Index declined by 1.09% than its previous weekly closing level, to record 540.67 points following a decrease in the prices of the blue-chips with the heaviest weights in the Index versus a stabilization in the prices of the other blue-chips at the current levels since several weeks. According to the expectations, the semi-annual financial data disclosures for the listed companies are the most important anticipation for the investors in the PEX with their different types. Whereby, the long term investors may formulate a very clear vision about their annual return due to these disclosures, while speculators will follow any price wave that results from the financial disclosure.
Regarding the significant economic news and according to the Palestinian Central Bureau of Statistics PCBS, preliminary estimates at constant prices showed an increase of 2.0% in GDP in Palestine during the 1st quarter of 2018 compared to the 1st quarter of 2017, (an increase of 4.8% in the West Bank and a decrease of 6.0% in Gaza Strip compared to the 1st quarter of 2017). And it showed a decrease of 2.8% in Palestine compared to the 4th quarter of 2017 at constant prices, meanwhile the base year is 2015. GDP for the 1st quarter 2018 at constant prices was $2,564.1 million for the West Bank and $813.5 million for Gaza Strip. On the other hand, GDP per Capita for Palestine at constant prices was $746.2 during the 1st quarter of 2018, it showed a decrease of 0.7% compared to the 1st quarter of 2017. As for the West Bank it was $980.9 at constant prices during the 1st quarter of 2018, it showed an increase by 2.4% during the 1st quarter of 2018 compared to the 1st quarter of 2017, while for Gaza Strip it was $425.3 during the 1st quarter of 2018, and it showed a decrease by 8.9% during the 1st quarter of 2018 compared to the 1st quarter of 2017.
Regarding the listed companies’ significant news, the board of directors of the Arab Palestinian Investment Company APIC discussed, in its meeting on 26/06/2018, the possibility to purchase its partner’s entire stake in Medical Supplies & Services Company MSS, to raise its stake from 50% to 100%. Whereby, the board of directors’ was delegated to take the necessary procedures to complete this deal. It is good to note that MSS is one of the largest and most diversified Palestinian companies in providing medical care products in Palestine, whereby; it distributes medicines, medical and laboratory equipment, surgical products and consumer goods to the private pharmacies and hospitals, non-governmental organizations, the Palestinian Ministry of Health and major retail stores. MSS is also the sole distributor and service provider for an impressive list of major multinational brands.
|
|
-trade
