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Cross transactions in the last trading session of the week raise the trading value significantly

2019-11-07

 Sahem Weekly Trading Report (03-07)-11-2019

With the start of November, Al-Quds Index closed in the green zone; recording gains of 0.89% than the previous week, to report 524.11 points. This followed recording significant increases in the prices of some leading stocks with heavy weights in the Index, versus a slight decline in the prices of others with heavier weights after disclosing the listed companies’ financial data performance for 9M 2019, in which reflected Al-Quds Index and its components in varying degrees. Moreover, Palestine Stock Exchange PEX witnessed executing several cross transactions in the last trading session of the week, to raise the trading value in the PEX significantly. Whereby a cross transaction on the stocks of the Vegetable Oil Industries Company VOIC of 1.35 million shares was executed, leading VOIC to top the PEX by 79.59% through recording trading value of $25.66 million. Also, a cross transaction on the stocks of the Golden Wheat Mills Company GMC of 2.06 million shares was executed. In the same context, a cross transaction was executed on the stocks of Palestine Poultry Company AZIZA of 0.13 million shares. Furthermore, a cross transaction of 0.39 million shares on the stocks of Palestine Islamic Bank ISBK was executed. Also, a transaction of 0.05 million shares on the stocks of Palestine Telecommunication Company PALTEL was executed.  

With the end of the granted legal period to disclose the financial data for 9M 2019 with the end of the previous month and week, the leading company with heaviest weight in Al-Quds Index and the largest in the PEX by market capitalization – Palestine Telecommunication PALTEL- disclosed posting net income attributable to the shareholders of the parent company of JD46.14 million in 9M 2019 compared to JD52.20 million a year earlier. This followed a decrease in the company’s sales by 9.54% than the corresponding period a year earlier. Based on the disclosed figures, PALTEL records book value BV of JD3.48 and P/BV of 1.19x. Also, PALTEL records earnings per share EPS of JD0.351 and P/E of 8.85x. However in the market, PALTEL closed at the level of JD4.14; down by 0.96% than its previous weekly closing level after transactions worth $0.61 million.

In the same context, the leading investment company in the PEX by market capitalization- Palestine Development and Investment Company PADICO- noted posting net income attributable to the shareholders of the parent company of $21.16 million in 9M 2019 compared to $14.32 million in 9M 2018. This followed an increase in the company’s revenues significantly by 42.17% compared to the corresponding period. Based on the disclosed figures, PADICO records BV of $1.58 and P/BV of 0.77x. Also, PADICO records EPS of $0.085 and P/E of 10.76x. In the market, PADICO increased significantly by 8.93% than the previous week, to close at the level of $1.22 after trading in a relatively wide range and through transactions worth $0.31 million.


 

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