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Al-Quds Index in the red zone amid the absence of general incentives in the PEX

2019-10-10

 Sahem Weekly Trading Report (06-10)-10-2019

This week, Palestine Stock Exchange PEX witnessed stalemate in transactions in terms of liquidity and price movements, where trading was very weak with a value that did not exceed $2.20 million. This coincided with the absence of general incentives in the PEX in this period and the slow price movements pace of the blue-chips’ stocks, following the domination of anticipation ,in the financial disclosures’ month for the first nine months of 2019, on the investment appetite and investors’ behavior, where stalling in the place outweighed pursuing any price trend. On another hand, Al-Quds Index closed at the level 515.96 points level; down by 0.16% than its previous weekly closing level and by 2.53% than its yearly closing for the year 2018, after trading in a relatively wide range.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Industrial Production Index IPI in Palestine reached 102.64 during August 2019 with a decrease of 4.61% compared to July 2019 which recorded 107.60 (Base Year 2018 = 100). IPI for August 2019 decreased due to the decrease in the activities of mining and quarrying by 10.58%, which constituted 2.68% of the total industry, the activities of electricity, gas, steam and air conditioning supply by 8.49%, which constituted 11.95% of the total industry, the activities of water supply, sewerage, waste management and remediation by 8.33%, which constituted 2.39% of the total industry, and the activities of manufacturing industry by 3.75% which constituted 82.98% of the total industry.

This week, the listed companies accelerate to set their board of directors BOD’s meetings to discuss and approve the third quarter financial data disclosures. In this context, the BOD of the National Bank TNB will be holding a meeting on 15/10/2019. In addition, the BOD of Palestine Securities Exchange Company PSE will be holding a meeting on 16/10/2019. Moreover, the BOD of Palestine Insurance Company PICO will be holding a meeting on 17/10/2019. Also, the BOD of Trust International Insurance Company TRSUT will be holding a meeting on 20/10/2019. In the same context, the BOD of Sanad Construction Resources Company SANAD will be holding a meeting on 23/10/2019. Furthermore, the BOD of both the National Insurance Company NIC and Al-Wataniah Towers Company ABRAJ will be holding meetings on 30/10/2019.