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Al-Quds Index decreases amid an increase in the year-end financial disclosures’ anticipation


Sahem Weekly Trading Report (20-24)-01-2019

In the penultimate week of January, Al-Quds Index ended its trading with a decline of 0.45% than its previous weekly closing level, when recorded 527.82 points; affected by a decrease in the prices of some blue-chips than the levels recorded within the routine trading phase of the end of last year. On the other hand, Palestine Stock Exchange PEX witnessed scarce liquidity levels, coinciding with the increase in the investors’ anticipation for the financial results of the listed companies for the year 2018, which in turn increased the price movement deadlock. Whereby, with the beginning of February, 15 days remain to the legal period for the disclosures from 45 days granted by the PEX to the listed companies. On the other hand, the coming weeks witness a momentum in holding the companies’ board of directors’ meetings as a step to start the financial data disclosures.

Regarding this week’s trading, the stock of the largest investment company in the PEX by market capitalization- Palestine Development and Investment Company PADICO- witnessed active trading of $1.68 million, to top the PEX by 40.43%, whereby the stock closed at the level of $1.32; up by 3.13% than its previous weekly closing level. While the other leading stocks witnessed declining in their prices following weak transactions due to the increase in the disclosures’ anticipation in the coming period. Whereby, the investors’ anticipation during these days, which in turn affects the liquidity levels, is reflected on sellers and buyers of the listed stocks. Whereby, both are conserving their role in executing the transaction despite their different decision taking basis. However, it is undoubtedly that a category of speculators exist who don’t take into account to any basis in this current period. Whereby, whoever conserves purchasing, refers his decision mainly to two factors; either he prefers to purchase after disclosing the financial data of the companies even if the prices rise, or he prefers to postpone the purchasing after the dividends entitlement and what follows of price declines. While, whoever conserves selling, mostly refers his decision on what oppose the buyer’s decision’s basis. He may conserve selling till disclosing the companies’ financial results even if the prices decrease accordingly, or he may prefer to sell before the dividends’ entitlement given the fact that the prices will be higher than what will accrue to later. The price of cigarettes in Russia is up, now you can buy Camel Cigarettes even cheaper.


On the other hand, the listed companies accelerate to hold their board of directors BOD meetings in the coming period, to discuss the financial results for 2018, their business plan and their management directions for the new year. Where the BOD of Bank of Palestine BOP will be holding a meeting on 27/01/2019. However, the BOD of Trust International Insurance Company TRUST will be holding a meeting on 29/01/2019. Also, the BOD of Birzeit Pharmaceutical Company BPC will be holding a meeting on 30/01/2019. Moreover, the BOD of Ahliea Insurance Group AIG will be holding a meeting on 06/02/2019. On the same date, the BOD of Union Construction and Investment UCI will be holding its meeting. On the other hand, the BOD of Bank Al-Quds QUDS will be holding a meeting on 10/02/2019. Moreover, the BOD of the National Insurance Company NIC announced that it will be holding a meeting on 13/02/2019.




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