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2019-07-25
Sahem weekly trading report (21-25)-07-2019
Within a week that is calm and weak in price movements, Al-Quds Index closed at the level of 525.70 points; up by 0.10% than its previous weekly closing level. While this week also lacked any institutional transactions that will raise the trading value in Palestine Stock Exchange PEX from time to time. However, regarding the leading stocks with the heaviest weights in Al-Quds Index, they haven’t witnessed any distinguished performance than the previous weeks, whereby, they closed with a slight decline than the previous week. While with the start of the acceleration of the listed companies’ semi-annual financial data disclosures, investors with their different categories are still anticipating these disclosures because of their significant impact on forming a clearer vision of the return on investment on one hand and monitoring opportunities and building positions on another hand.
Regarding the semi-annual financial data disclosures, Watianya Palestine Mobile Telecommunication OOREDOO was the first to disclose its semi-annual financial data for 2019. Whereby, it noted realizing net loss of $1.25 million in the first six months of the year 2019, compared to net loss of $1.65 million in the corresponding period of 2018. This was mainly attributable to the decline in the company’s general and administrative expenses by 37.39%. Regarding the disclosed figures, OOREDOO records book value of $0.32, and P/BV of 3.25x.
On the other hand, and according to the Palestinian Central Bureau of Statistics PCBS, exports in Palestine decreased in May 2019 by 1% compared to April 2019. It also decreased by 6% compared to May 2018 and reached $89.7 million. Also, imports decreased in May 2019 by 4% compared to April 2019. It also decreased by 2% compared to May 2018 and reached $483.3 million. While the trade balance which represents the difference between exports and imports showed a decrease in trade deficit by 5% in May 2019 compared to April 2019. It also decreased by 1% compared to May 2018 and reached $393.6 million.
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