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Weak trading amid the start of the semi-annual disclosures

2018-07-26

 Sahem Weekly Trading Report (22-26)-07-2018

With weak trading that included executing two transactions on the leading stocks of the Arab Palestinian Investment Company APIC and Palestine Investment Bank PIBC of about 0.30 million shares, Al-Quds Index traded around its recorded levels in the previous weeks, to decline by 0.43% than its previous weekly closing level, and record 541.24 points. However, regarding the leading stocks with the heaviest weights in Al-Quds Index, they haven’t witnessed any distinguished performance than the previous weeks, whereby, most of them closed with a slight decline than the previous week. While with the start of the acceleration of the listed companies’ semi-annual financial data disclosures, investors with their different categories are still anticipating these disclosures because of their significant impact on forming a more clear vision of the return on investment on one hand and monitoring opportunities and building positions on another hand.

Regarding the semi-annual financial data disclosures, Palestine Securities Exchange Company PSE- the operator of Palestine Stock Exchange PEX- was the first to disclose its semi-annual financial data for 2018. Whereby, it noted posting net income of $0.55 million in the first six months of the year compared to net loss of $0.10 million in the corresponding period of 2017. This followed an increase by 30.90% in the company’s revenues, compared to a decrease of 30.81% in its total expenses. According to the disclosed data, PSE records book value BV of $1.21 and P/BV of 1.10x. Also, the company records earnings per share EPS of $0.055 and P/E ratio of 12.09x.

Regarding the listed companies’ trading for this week, the leading stock of the Arab Palestinian Investment Company APIC topped the PEX after executing a transaction of 0.20 million shares on its stocks during the week, to close at the level of $2.30; down by 0.43% than its previous weekly closing level, following transactions worth 0.57 million. However, the stock of the largest bank in the PEX by market capitalization- Bank of Palestine BOP- followed when its transactions reached $0.26 million, to close at the level of $2.49; down by 0.40% than its previous weekly closing level. Moreover, the stock of the largest company in the PEX in terms of market capitalization- Palestine Telecommunications PALTEL- followed with transactions worth $0.25 million, to close at the level of JD4.36; down by 0.46% than its previous weekly closing level. Moreover, Palestine Investment Bank PIBC followed with transactions worth $0.24 million, to stabilize at the level of $1.38 without any change than its previous weekly closing level and after executing a transaction worth 0.10 million shares on its stocks. Moreover, the stock of Al-Quds Bank QUDS followed when recorded trading value of $0.22 million, to stabilize at the level of $1.95 without any change than its previous weekly closing level.