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Al-Quds Index at its highest level since the beginning of the year

2020-02-06

Sahem Weekly Trading Report (02-06)-02-2020

In the first week of February, Al-Quds Index recorded weekly gains of 1.07%, to close at the level of 527.86 points; reporting its highest level since the beginning of the year. Whereby, the increase in the price of the largest company in Palestine Stock Exchange PEX by market capitalization- Palestine Telecommunications PALTEL- especially after announcing its recommendation to distribute dividends for the year 2019, constituted the main leverage for the Index. On another hand, the all different types of investors’ anticipation increases during the week, with the approaching end of the legal period granted to the listed companies to disclose their preliminary annual financial data on the 15th of February. Whereby in another context, the PEX lacked any trading momentum and witnessed absence in executing any institutional transaction in this period. However, the next week is expected to witness momentum in disclosures, and new recommendations regarding distributing dividends to the shareholders for the year 2019.

 

On another hand, the listed companies continue to raise their recommendations to distribute dividends for the shareholders. Whereby, the board of directors of Palestine Telecommunications Company PALTEL proposed to the general assembly, which will be holding ordinary and extraordinary meetings on 24/03/2020, distributing 40% cash dividends for the year 2019, to record dividends yield of 9.24% based on the current market price. Moreover, the board of directors of the Arab Company for Paints Products APC raised a recommendation to the general assembly, which will be holding a meeting on 09/03/2020, distributing 40% cash dividends for the year 2019, to record dividends yield of 6.35% based on the current market price. Furthermore, the board of directors of Birzeit Pharmaceutical Company BPC proposed to the general assembly, which will be holding a meeting on 14/04/2020, distributing 22% cash dividends for the year 2019, to record dividends yield of 4.15% based on the current market price.

 

Regarding the listed companies’ financial data disclosures for the end of 2019, the Arab Company for Paints Products APC noted posting net income of JD0.76 million at the end of 2019, compared to net income of JD0.45 million at the end of 2018. This mainly followed an increase in the company’s net sales by 5.42% at the end of 2019. Based on the disclosed figures, APC records book value BV of JD3.13, and P/BV of 1.69x. Moreover, Palestine Securities Exchange Company PSE disclosed posting net income of $0.60 million at the end of 2019; up by 42.14% than 2018. This mainly followed a decline in the company’s general and administrative expenses by 25.96% in 2019 and an increase in the investment gains by 16.87% and other revenues by 31.07%. Based on the disclosed figures, PSE records BV of $1.21, and P/BV of 4.05x. 


 

2020-05-21
Idleness in trading prior to Eid Al-Fitr holiday

2020-05-21
PIBC approves distributing 4% cash dividends for the year 2019

2020-05-20
APIC proposes distributing 6.74% cash dividends and 6.74% stocks dividends for the year 2019

2020-05-20
UCI posts net income of $0.15 million in Q1 2020

2020-05-19
MIC posts net income of $0.56 million in Q1 2020

2020-05-19
TIC posts net income of $0.83 million in Q1 2020

2020-05-18
SANAD realizes net loss of $0.55 million in Q1 2020

2020-05-18
WASSEL posts net income of $0.03 million in Q1 2020

2020-05-18
TNB posts net income of $7.80 million in Q1 2020

2020-05-18
ELECTRODE realizes net loss of JD0.004 million in Q1 2020

2020-05-18
GUI posts net income of $0.77 million in Q1 2020

2020-05-18
AQARIYA posts net income of $0.08 million in Q1 2020

2020-05-18
JCC posts net income of JD0.09 million in Q1 2020

2020-05-18
OOREDOO posts net income of $1.28 million in Q1 2020

2020-05-18
TRUST posts net income of $1.18 million in Q1 2020

2020-05-17
NCI records net income of $0.09 million in Q1 2020

2020-05-17
PID realizes net loss of JD0.52 million in Q1 2020

2020-05-17
PRICO realizes net loss of JD0.29 million in Q1 2020

2020-05-17
RSR posts net income of JD0.07 million in Q1 2020

2020-05-17
NIC reports net income of $1.18 million in Q1 2020

2020-05-17
PADICO realizes net loss of $0.52 million in Q1 2020

2020-05-17
JPH posts net income of $1.22 million in Q1 2020

2020-05-17
ISBK records net income of $3.09 million in Q1 2020

2020-05-17
JREI realizes net loss of $0.03 million in Q1 2020

2020-05-17
PALTEL posts net income of JD7.03 million in Q1 2020

2020-05-14
Scarce trading and a momentum in the substantial news

2020-05-13
BPC reports net income of $0.99 million in Q1 2020

2020-05-13
VOIC posts net income of JD0.33 million in Q1 2020

2020-05-13
AZIZA posts net income of JD0.99 million in Q1 2020

2020-05-13
LADAEN posts net income of JD0.009 million in Q1 2020

2020-05-13
PIIC posts net income of JD0.64 million in Q1 2020

2020-05-13
PSE realizes net loss of $0.01 million in Q1 2020

2020-05-13
JPH approves distributing 10% cash dividends for the year 2019

2020-05-13
ELECTRODE approves distributing 6% cash dividends for the year 2019

2020-05-10
PEC reports net income of $2.85 million in Q1 2020

2020-05-10
AIB posts net income of $2.00 million in Q1 2020

2020-05-10
GMC posts net income of JD0.19 million in Q1 2020

2020-05-10
ABRAJ posts net income of $0.08 million in Q1 2020

2020-05-07
Al-Quds Index in the red zone amid the start of Q1 2020 financial data disclosures

2020-05-05
PALTEL starts to pay the approved dividends distribution

2020-05-05
NAPCO realizes net loss of JD0.29 million in Q1 2020

2020-05-05
APIC posts $5.12 million net income in Q1 2020

 

 

 
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