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Al-Quds Index closed in the red zone for the second week in a row

2018-12-13

Sahem Weekly Trading Report (09-13)-12-2018

Al-Quds Index closed this week at the level of 524.71 points; down by 0.11% than its previous weekly closing level. Following trading 1.87 million shares that worth $4.15 million. Whereby, this week witnessed slight fluctuation in prices to end the week with relatively stable blue-chips prices. where most of the trading this week was concentrated in its beginnings to witness a recession at the end affected by the critical political situation in Palestine. Moreover, regarding the economic indicators and accounting to the Palestinian Central Bureau of Statistics PCBS, The overall Consumer Price Index CPI for Palestine during November 2018 decreased by 0.36% compared with October 2018 (by 0.43% in Gaza Strip, by 0.42% in the West Bank, and with a slight decrease by 0.06% in Jerusalem).

In another context, executing a transaction on the stocks of Bank of Palestine BOP - the stock of the largest bank by market capitalization - increased the trading value in the PEX this week, after transactions worth $1.46; down by 63.25% compared to last week’s trading value. Whereby, BOP stabilized at the level of $2.30, without any change than its previous weekly closing level. Moreover, regarding the stock of the largest company by market capitalization – Palestine Telecommunication PALTEL -, it stabilized at the level of JD4.30, without any change than its previous weekly closing level. Following transactions worth $0.59 million; down by 57.96% compared to last week’s trading value. In the same context, the stock of the largest investment company by market capitalization – Palestine Development and Investment Company PADICO – stabilized at the level of $1.28, without any change than its previous weekly closing level. Following transactions worth $0.25 million; up by 133.84% compared to last week’s trading value. In the same sector, Arab Palestinian Investment Company APIC stabilized at the level of $2.30, without any change than its previous weekly closing level. Following transactions worth $0.61 million; up by 464.01% compared to last week’s trading value.

The coming period is witnessing momentum of board of directors BOD meetings to discuss the estimated budget for 2019. Whereby, the BOD of Arab Islamic Bank AIB will be holding a meeting on 19/12/2018. On same date, the BOD of The Palestinian Company for Distribution & Logistics Services WASSEL will be holding a meeting. On same context, the BOD of Palestine Electric Company PEC will be holding a meeting on 20/12/2018. At the same date, the BOD of Bank of Palestine BOP will be holding a meeting.