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

2020-05-07

 Sahem Weekly Trading Report (03-07)-05-2020

In the first week of May, Al-Quds Index closed at the level of 477.57 points; down significantly by 4.28% than the last trading session in Palestine Stock Exchange PEX on 19/03/2020 amid lack of liquidity and a very scarce transactions. It is good to note that trading on the PEX was resumed on Sunday 03/05/2020 after a halting of 40-days as part of the procedures taken to limit the spread of Coronavirus. In the same context, the prices of the stocks of the listed companies- especially the leading stocks- declined significantly in conjunction with approving dividends distribution for the shareholders for the year 2019 by some companies and what follows of routine price declining wave in order to balance the prices after the dividends’ distribution, in addition to the slow transactions coinciding with the emergency period in the country to limit the spread of Coronavirus and the scarcity and slowness of trading in the holy month of Ramadan. On another hand, the PEX witnessed the start of quarterly financial data disclosures acceleration, whereby, the legal period granted to the listed companies to disclose their Q1 2020 financial data- which is supposed to end usually on 30/04/2020, has been extended, to end on Sunday 17/05/2020 in line with the declared state emergency in Palestine.

Regarding the Q1 2020 financial data disclosures, the National Aluminum & Profile Company NAPCO was the first to disclose its quarterly data, noting realizing net loss of JD0.29 million in Q1 2020, compared to net income of JD0.07 million in Q1 2019. This followed a decline in the company’s sales, an increase in the general and administrative expenses, in addition to paying deferred tax expenses. Based on the disclosed figures, NAPCO records book value BV of JD1.64, and P/BV of 0.65x. On the other hand and regarding Q1 2010 financial data disclosures of the leading companies, the Arab Palestinian Investment Company APIC noted posting net income attributable to the shareholders of the parent company of $4.14 million; up by 5.41% than Q1 2019. This mainly followed an increase in the company’s sales, in addition to recording $0.46 million in the assets available for sale and $0.44 million other revenues versus recorded other expenses in Q1 2019. Based on the disclosed figures, APIC records BV of $1.54 and P/BV of 1.69x.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBs, the overall Industrial Production Index IPI in Palestine reached 86.32 during March 2020 with a sharp decrease of 24.60% compared to February 2020 (Base Year 2018). Whereby the procedures taken to limit the spread of Coronavirus in the last quarter of March began to impact the industrial production capacity, where the decline in the IPI was similar to the declining rate recorded in the emergency period of March 2020. Whereby, Bethlehem Province was the most affected by the emergency closure.


 

2020-05-21
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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

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UCI posts net income of $0.15 million in Q1 2020

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MIC posts net income of $0.56 million in Q1 2020

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TIC posts net income of $0.83 million in Q1 2020

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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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