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Relative quietness in the PEX and Wataniya Mobile becomes "OOREDOO"

2018-11-29

Sahem Weekly Trading Report (25-29)-11-2018

In the last week of November, Al-Quds Index rebounded upwards by 0.14% than its previous weekly closing level, to trade 1.43 million shares that worth $2.07 million. Moreover, trading and price movements were slow this week, and liquidity was trapped around the prevailing trading prices amid rising anticipation for the remaining period of the year. However, regarding the significant news this week, Wataniya Palestine Mobile Telecommunications WATANIYA unified its brand with its parent company Ooredoo Group Corporation, to change its symbol from WATANIYA to OOREDOO Palestine starting from Wednesday 28/11/2018.

Regarding this week’s trading, Arab Palestinian Investment Company APIC stabilized at the level of $2.30; without any change than its previous weekly closing level, when its transactions contributed for 16.98% from PEX’s total trading value. However, the largest company by market capitalization – Palestine Telecommunication PALTEL - to stabilized at the level of JD4.33; without any change than its previous weekly closing level. When its transactions contributed for 11.05% from PEX’s total trading value. 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 $2.31; down by 0.86% than its previous weekly closing level, when its transactions contributed for 10.84% from PEX’s total trading value. Also, regarding the stock of the largest investment company by market capitalization – Palestine Development and Investment Company PADICO - it stabilized at the level of $1.28; without any change than its previous weekly closing level. When its transactions contributed for 8.78% from PEX’s total trading value.

On the other hand, some of the listed companies continued to schedule their board of directors BOD’s meetings to discuss the estimated budget for 2019. Whereby, the BOD of the Palestine Development & Investment Company PADICO will be holding a meeting on 03/12/2018.  Also, the BOD of National Insurance Company NIC will be holding a meeting on 05/12/2018. In the same context, the BOD of Palestine Industrial Investment Company PIIC will be holding a meeting on 11/12/2018. On the other hand, the BOD of the National Bank TNB held a meeting on 27/11/2018, whereby, discussed the estimated budget for 2019. and in the same context, the BOD of Palestine Islamic bank ISBK  held a meeting on 28/11/2018.