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2019-10-03
Sahem Weekly Trading Report (29-09)-(03-10)-2019
With the beginning of October, executing two institutional transactions on the stocks of bank of Palestine BOP- the largest bank in the PEX by market capitalization- of 3.30 million shares and an institutional transaction on the stocks of the Arab Hotel Company AHC of 0.15 shares raised the trading value in Palestine Stock Exchange PEX for this week to a noticeable level compared to the previous weeks. Whereby, BOP has topped the PEX trading for this week by 83.38%. On the other hand, Al-Quds Index witnessed a decline of 0.08% than its previous weekly closing level, to record 516.79 points. This followed a decrease in the prices of some leading stocks versus an increase in the prices of others in this routine period of the year. Where with the beginning of the month, the PEX entered the legal period granted to the listed companies to disclose their 9M 2019 financial data, to raise the anticipation once again for the PEX and investors particularly towards the accumulated yield in their minds. Undoubtedly, the expectations for companies’ financial data vary based on what had been announced in the first half of 2019 and what was laid out for possible impacts in the third quarter. Accordingly, the listed companies’ stocks performance varied this week following the fundamental factors and the ease of the liquidity movement.
Regarding the economic indicators and based on the Palestinian Central Bureau of Statistics PCBS, preliminary estimates at constant prices showed a decrease of 2% in Palestine during the 2nd quarter 2019 compared to the 1st quarter 2019 at constant prices, (mainly in agriculture and fishing, wholesale and retail trade and repair of motor vehicles and motorcycles, transportation and storage, information and communication, public administration and defense). On the other hand, it showed an increase of 2.5% in GDP in Palestine during the 2nd quarter 2019 compared to the 2nd quarter 2018 which excludes the seasonal effect, meanwhile the base year is 2015. GDP for the 2nd quarter 2019 at constant prices was $2,754 million for the West Bank and $681 million for Gaza Strip. On the other hand, GDP per Capita for Palestine at constant prices was $736 during the 2nd quarter 2019, it showed a decrease of 2.6% compared to the 1st quarter 2019. As for the West Bank it was $1,025 at constant prices during the 2nd quarter 2019, it showed a decrease by 2.2% during the 2nd quarter 2019 compared to the 1st quarter 2019, while for Gaza Strip it was $343 during the 2nd quarter 2019, and it showed a decrease by 4.2% during the 2nd quarter 2019 compared to the 1st quarter 2019.
Regarding the trading of the blue-chips in this week, the stock of Bank of Palestine BOP increased by 0.49% than the previous week, to close at the level of $2.05, following transactions of $6.90 million, which were raised through executing the institutional transactions on its stock this week. On another hand, the stock of the largest company in the PEX by market capitalization- Palestine Telecommunications PALTEL- declined by 0.48% than the previous week, to record JD4.12 after transactions worth $0.23 million. In the same contest, the stock of the largest investment company in the PEX by market capitalization- Palestine Development and Investment Company PADICO- declined by 1.75% than the previous week, to close at the level of $1.12 after transactions worth $0.21 million.
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