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2018-11-08
Sahem Weekly Trading Report (04-08)-11-2018
In this week Al-Quds Index increased by 0.37% than its previous weekly closing level, to record 529.13 points, where Palestine Stock Exchange PEX witnessed weak trading, which lacks any institutional transactions. On the other hand, with the disclosures’ completion of 45 companies out of 48 listed companies required to disclose their data by the end of the first nine months of 2018, the PEX records an average PE ratio of 12.27 and an average P/BV of 1.45x.
Regarding the data of the PEX’s sectors, the banking and financial services’ sector contributed in 31.66% from total disclosed companies’ profits attributable to the parent companies. Whereby, all companies in the sector recorded profits by the end of 9M 2018. According to the disclosed data, the average PE of the sector records 11.92x, and average P/BV reached 1.25x. This came despite the decrease in the sector’s profits attributable to the parent companies by 2.33%. While, Bank of Palestine BOP constitutes the lion’s share of 53.95% from the total achieved profits attributable to parent companies in the sector. In the same context, 6 insurance companies out of 7 companies disclosed their 9M financial results, whereby, the insurance sector contributed in 6.18% from total disclosed companies’ profits attributable to the parent companies. Where 66.67% of the disclosed companies in the sector recorded an increase in their profits attributable to the parent companies. but the sector’s profit attributable to the parent companies increased by 16.86% in 9M 2018. According to the disclosed data, the insurance sector records an average PE of 10.64x; the lowest value among all sectors, and records an average P/BV of 1.33x.
In the service sector, 9 out of 11 listed companies among the sector disclosed their 9M 2018 financial results; where the services sector contributed by the highest percentage of 36.29% from the total disclosed companies among all sectors in the PEX. Where 78% of the disclosed companies in the sector achieved profits attributable to the parent companies in 9M 2018, whereas, 22% of the disclosed companies in the sector realized net losses compared to the corresponding period of 2017, while; two companies didn’t disclose their financial results for 9M 2018 within the granted period by the PEX. Whereby, Palestine Telecommunications Company PALTEL’s profits contributed in 89.29% from the total sector’s profits attributable to the parent companies, in which increased in total by 1.39% compared to the corresponding period of last year. According to the disclosed data, the sector records average PE of 10.84x, and average P/BV of 4.53x; the highest value among all sectors.
On the other hand, the investment sector’s profits attributable to the parent companies contributed in 14.28% from the total disclosed companies’ profits attributable to the parent companies, while, the investment sector’s profits attributable to the parent companies increased by 4.84% in 9M 2018, to record an average PE of 18.20x; the highest value among all sectors. and average P/BV of 0.87x; the lowest value among all sectors. Regarding the Industry sector, it witnessed a decrease in the sector’s profits attributable to the parent companies by 21.52% in 9M 2018; constituting 11.59% from total sector’s profits attributable to the parent companies, whereby, Birzeit Pharmaceuticals BPC and the Vegetable Oil Industries Company VOIC achieved the highest profits, in which both contributed for 52.76% from total sector’s profits attributable to the parent companies. Accordingly, the Industry sector records an average PE of 11.28x and average P/BV of 1.19x.
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