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Al-Quds Index in the red zone and new routinely anticipation is witnessed


 Sahem Weekly Trading  Report (09-13)-06-2019

In the second week of June and after the end of Eid El-Fiter Holiday, Al-Quds Index declined by 0.18% than its previous weekly closing level- which traded only for one day during it- to close at the level of 525.93 points. Whereby in this week, several institutional and other transactions were executed on the stocks of the largest investment company in Palestine Stock Exchange PEX, and two banks to raise the trading value to the medium level. However, this period is characterized with rigidity in the general incentives due to the non-existence of any political or economic developments, while the ordinary trading value barely records acceptable levels. With the end of June, the PEX witnesses new routinely anticipation, which is the expectancy of semi-annual listed companies’ financial data disclosures, whereby, the PEX grants the listed companies 45 days from the end of June to disclose their semi-annual financial results.

Within this week’s trading, an institutional transaction of 1.39 million shares on the stocks of Palestine Development and Investment Company PADICO raised the PEX trading value, to close at the level of $1.30; down by 1.52% than its previous weekly closing level and after transactions worth $1.92 million, to top the PEX by 40.19%. Also, a transaction of 0.35 million was executed on the stocks of Palestine Investment Bank PIBC, to record trading value of $0.41 million. Moreover, PIBC recorded a noticeable increase in its price by 5.50%, to close at the level of $1.15. Furthermore, a transaction of 0.13 million was executed on the stocks of the National Bank TNB, to record a price of $1.66; significantly down by 4.05% than its previous weekly closing level, and after trading value worth $0.22 million. Other than that, the remaining transactions recorded a few hundreds of thousands of dollars distributed on the leading stocks and other stocks. Regarding the individual price trends of the leading stocks, an increase in the price of the largest company in the PEX by market capitalization- Palestine Telecommunications PALTEL was witnessed this week opposed to a declining in the prices of both the largest bank by market capitalization- Bank of Palestine BOP- and Palestine Development and Investment Company PADICO.

According to the Palestinian Central Bureau of Statistics PCBS, the overall Consumer Price Index CPI for Palestine during May 2019 increased by 0.43% compared with April 2019 (by 1.89% in Jerusalem, and by 1.12% in Gaza Strip, while it decreased by 0.14% in the West Bank). The changes in Palestinian CPI for May 2019 mainly was due to an increase in the prices of personal care, social protection and miscellaneous goods and services by 8.63%, restaurants' and accommodation services by 1.15%, clothing and footwear by 1.12%, despite a decline in the prices of dried vegetables by 19.95%, fresh vegetables by 16.58%, potatoes and other tubers by 9.75%, eggs by 5.26%, fresh fruit by 1.86%, fresh chicken by 1.13% and gas by 0.73%. In comparison to the year 2018, the Palestinian CPI during May 2019 increased by 2.82% compared with May 2018 (by 2.83% in Gaza Strip, by 2.43% in Jerusalem, and by 2.37% in the West Bank).





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