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2019-11-28
Sahem Weekly Trading Report (24-28)-11-2019
Palestine Stock Exchange PEX lacked, in the last trading week of November, scarcity in the significant news and events of the listed companies. However, the status of heavy decline in the liquidity levels, which dominated the trading process for a while continued, leading Al-Quds Index to close at the level of 521.53 points; down by 0.60% than the previous weekly closing level, and by 1.48% than its yearly closing at the end of 2018. In another context, the leading stocks traded in a relatively narrow range, whereby most witnessed a declining in their prices versus a slight increase in the prices of others. On the other hand and with the start of December, the anticipation will increase among investors for the last month of the year in waiting for the final outlook of the financial data disclosures for the year 2019.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, imports increased in September 2019 by 5% compared to August 2019. It also increased by 10% compared to September 2018 and reached $506.4 million. Imports from Israel decreased by 2% in September 2019 compared to August 2019; representing 57% of total imports in September 2019, while, imports from other countries increased by 15% compared to August 2019. On the other hand, exports increased in September 2019 by 10% compared to August 2019. It also increased by 11% compared to September 2018 and reached $90.6 million. Exports to Israel increased in September 2019 by 5% compared to August 2019; representing 88% of total exports in September 2019. At the same time, exports to other countries increased by 80% during the same period compared to August 2019 and reached $10.6 million. While, the trade balance which represents the difference between exports and imports showed an increase in trade deficit by 4% in September 2019 compared to August 2019. It also increased by 10% compared to September 2018 and reached $415.8 million.
On the other hand, some of the listed companies continued to schedule their board of directors BOD’s meetings to discuss and approve the estimated budget for 2020. Whereby, the BOD of Palestine Industrial Investment Company PIIC held a meeting on 21/11/2019. Also, the BOD of Jerusalem Pharmaceuticals Company JPH held a meeting on 25/11/2019. On the other hand, the BOD of Palestine Telecommunication PALTEL will be holding a meeting on 05/12/2019. Also, the BOD of Palestine Securities Exchange Company PSE will be holding a meeting on 09/12/2019. Moreover, the BOD of Palestine Poultry Company AZIZA will be holding a meeting on 14/12/2019.
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