Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Al-Quds Index at its lowest level since the beginning of the year

2019-06-27

 Sahem Weekly Trading Report (23-27)-06-2019

In the last days of June and mid of the year 2019, Al-Quds Index touched its lowest price since the beginning of the year 2019, to close at the level of 522.15 points; recording a decline of 1.14% compared to its previous weekly closing level and by 1.36% compared to the end of the year 2018. With the end of June, in which one trading day remains from it, Al-Quds Index traded in price range of 29 points, whereby, its highest level was reached on March 18th, to record discount to high of 5.18%. While, touched its lowest level in the last trading session of this week. Whereby, the month of June witnessed price rebounding for some leading stocks after the routinely Ex-dividends. Regarding the liquidity, it is still relatively weak and lacks any institutional transactions.

In a report by the Palestinian Central Bureau of Statistics PCBS and Palestine Monetary Authority PMA, a stumbling in the Palestinian economy since the beginning of the year 2019 aroused after months of tax revenues crisis with Israel. According to the Palestinian Finance Ministry, Israel deducts $12 million per month (around $144 million annually) from the Palestinian tax revenues funds. It also deducts 3% from total taxes value that is transferred to Palestine Authority; estimated at more than $1 billion annually. Israel also deducts the Palestinian debt in exchange for suppling oil, electricity and other services. Whereby, the Palestinian Authority rejected any lessened tax revenues funds from Israel and has so far maintained its opinion that funds should be transferred in full without any deduction. Regarding the report, it showed an incessant deficit in the Current Account of Balance of Payment BoP (goods, services, income, current transfers) which totaled $306 million. This deficit in current account mainly triggered by the deficit of the Trade Balance of Goods, which reached $1,208 million, as well as the deficit in Services Balance, which amounted to $255 million.

Regarding the price dynamics, the current price of Palestine Telecommunications Company PALTEL- the largest company by market capitalization and the highest weighted stock in Al-Quds Index- records premium to 52-weeks low of 6.08%, and discount to 52-weeks high of 6.68%. Moreover, the stock of the largest investment company by market capitalization - Palestine Development and Investment Company PADICO- records, based on the current price, premium to 52-weeks low of 7.44%, and discount to 52-weeks high of 7.14%. However, regarding the stock of the largest bank by market capitalization- Bank of Palestine BOP-, it records premium to 52-weeks low based on the current price of 1.50% and discount to 52-weeks high of 18.80%. On the other hand, the leading stock of the Arab Palestinian Investment Company APIC, reports, based on the current price, premium to 52-weeks low of 4.46% and discount to 52-weeks high of 4.10%.


 

2020-09-24
Al-Quds Index below the 440 points level amid scarce liquidity

2020-09-17
Transactions on APIC raise the trading value fiery

2020-09-17
Delisting the stocks of the Arab Real Estate Establishment ARE and Globalcom Telecommunications GCOM from the PEX

2020-09-10
The PEX records average PE of 20.9x in H1 2020

2020-09-03
Al-Quds Index in the green zone amid medium-volume transactions

2020-09-03
PRICO realizes net loss of JD0.73 million in H1 2020

2020-09-03
JCC reports net income of JD0.27 million in H1 2020

2020-09-03
BPC records net income of $3.62 million in H1 2020

2020-09-03
BJP posts net income of JD0.31 million in H1 2020

2020-09-03
BJP posts net income of JD0.31 million in H1 2020

2020-09-03
PIBC posts net income of $1.21 million in H1 2020

2020-09-03
GMC posts net income of JD0.28 million in H1 2020

2020-09-03
WASSEL realizes net loss of $0.19 million in H1 2020

2020-09-03
AHC realizes net income of JD1.49 million in H1 2020

2020-09-03
JPH posts net income of $1.17 million in H1 2020

2020-09-03
TNB realizes net loss of $0.98 million in H1 2020

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013