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2019-07-04
Sahem Weekly Trading Report (30-06)-(04-07)-2019
In the first week of July, executing a cross institutional transaction of 4.56 million shares on the stocks of the largest bank in Palestine Stock Exchange PEX in terms of market capitalization- Bank of Palestine BOP-raised the trading in the PEX to the relatively high level. While Al-Quds Index is still trading at its lowest levels in this year, closing at the level of 522.83 points; up by 0.13% than its previous weekly closing level. Regarding the regular trading in the PEX, it continued the pace of the previous weeks, confiding in narrow prices range amid a relative constantly in the liquidity levels that were scare for a long period of time despite executing institutional transactions from time to time on selected shares. On the other hand, the anticipation increases this period to disclose the semi-annual financial data for 2019, which affects the investors’ behavior in the market during the coming period.
On the other hand and according to the Palestinian Central Bureau of Statistics, preliminary estimates at constant prices showed a decrease of 2.5% in Palestine during the 1st quarter of 2019 compared to the 4th quarter of 2018 at constant prices, mainly in agriculture and fishing, mining and manufacturing and electricity and water, wholesale and retail trade and repair of motor vehicles and motorcycles, construction. On the other hand, it showed an increase of 3.8% in GDP in Palestine during the 1st quarter of 2019 compared to the 1st quarter of 2018 which excludes the seasonal effect, meanwhile the base year is 2015. GDP for the 1st quarter of 2019 at constant prices was $2,800 million for the West Bank and $705 million for Gaza Strip. On the other hand, GDP per Capita for Palestine at constant prices was $755 during the 1st quarter of 2019, it showed a decrease of 3% compared to the 4th quarter of 2018. As for the West Bank, it was $1,048 at constant prices during the 1st quarter of 2019, it showed a decrease by 3.4% during the 1st quarter of 2019 compared to the 4th quarter of 2018, while for Gaza Strip it was $358 during the 1st quarter of 2019, and it showed a decrease by 1% during the 1st quarter of 2019 compared to the 4th quarter of 2018.
Regarding the leading stocks with heaviest weights in Al-Quds Index, some stocks witnessed a declining it their prices this week, while others witnessed a stabilizing in their prices compared to the previous week. Whereby, the stock of Bank of Palestine BOP- the largest bank in the PEX by market capitalization- topped the PEX in this week by 0.79% following executing cross institutional transaction on its shares, to close at the level of $2.02; down by 0.49% than its previous weekly closing level. It is good to note that BOP is till trading below its equivalent price after approving distributing cash and stocks dividends for the year 2018. On another hand, the stock of the largest company in the PEX by market capitalization- Palestine Telecommunication Company PALTEL- recorded a stabilization in its price without any change than the previous week, to close at the level of JD4.19 after transactions worth $0.51 million. In contrary, the stock of the largest investment company in the PEX by market capitalization- Palestine Development and Investment Company PADICO- decreased by 0.77% than its previous weekly closing level, to record $1.29 through transactions worth $0.14 million.
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