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2018-10-04
Sahem Weekly Trading Report (30-09)-(04-10)-2018
Al-Quds Index rebounded upwards with the beginning of October by 0.11% than its previous weekly closing level, to close at the level of 532.71 points. At the time Palestine Stock Exchange PEX entered the legal period granted to the listed companies to disclose their 9M 2018 financial data, to raise the anticipation once again for the PEX and investors particularly towards the accumulated yield in their minds. Undoubtedly, the expectations for companies financial data vary based on what had been announced in the first half of 2018 and what was laid out for possible impacts in the third quarter.
Regarding this week’s trading, Palestine Development and Investment Company PADICO - the stock of the largest investment company in terms of market capitalization – topped the PEX for the second week in row when recorded transactions that contributed for 25.37% from PEX’s total trading value. However, PADICO’s closed at the level of $1.29; down by 0.77% than its previous weekly closing level. Followed by the stock of the largest company by market capitalization in the PEX – Palestine Telecommunication PALTEL – when its transactions contributed for 15.97% from the PEX’s total trading value. In turn, PALTEL closed at the level JD4.31; down by 0.46% than its previous weekly closing level. In the industry’s sector, the stock of Birzeit Pharmaceuticals BPC stabilized at the level of $5.20, without any change than its previous weekly closing level. Moreover, in the banking and financial services sector, the stock of the largest bank by market capitalization – Bank of Palestine BOP – closed at the level of $2.38; down by 0.83% than its previous weekly closing level, when it transaction contributed for 11.56% from PEX’s total trading value.
This week, the listed companies accelerate to hold their board of directors BOD’s meetings to discuss and approve the third quarter financial data disclosures, whereby, the PEX grants the listed companies a month to disclose their data starting from the end of September. In this context, the BOD of the Vegetable Oil Industry VOIC will be holding a meeting on 15/10/2018. In addition, the BOD of the Golden Wheat Mills Company GMC will be holding a meeting on 16/10/2018. While, the BOD of Jerusalem Pharmaceutical Company JPH will be holding a meeting on 17/10/2018. On the same date, the BOD of Palestine Industrial Investment Company PIIC will be holding its meeting. In the same context, the BOD of the National Carton Industry NCI will be holding a meeting on 20/10/2018. While the BOD meeting of Al-Aqariya Trading Investment Company AQARIYA will be on 23/10/2018.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, The overall Industrial Production Index IPI in Palestine reached 102.12 during August 2018 with a decrease of 2.35% compared to July 2018 (Base Month December 2015 = 100).
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