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Scarce trading and a momentum in the substantial news

2020-05-14

Sahem Weekly Trading Report (10-14)-05-2020

In the second week of May, trading in Palestine Stock Exchange PEX is still scarce and very slow coinciding with the lack of purchasing bids in their prices depth. While Al-Quds Index closed with a slight decrease of 0.11% than the previous week. This came despite the increase in the price of the heaviest stock in Al-Quds Index- Palestine Telecommunications PALTEL- by 1.88% than its previous weekly closing, to trade above its equivalent price by 2.43% after approving the distribution of 40% cash dividends for the year 2019. It is good to note that the leading stocks and others witnessed price declines, lately, after approving the dividends distribution for the year 2019 in order to balance the prices after the dividends’ distribution. While undoubtedly that with the price declines, the anticipation degrees among investors increase in order to capture the best opportunities to build investment positions in the PEX. On the other hand, the substantial news on the listed companies increase varying between quarterly financial data disclosures and dividends distribution approvals.

Regarding Q1 2020 financial data disclosures, Palestine Industrial Investment Company PIIC- the investment arm of PADICO Holding in the agriculture and industrial sectors- disclosed posting net income attributable to the shareholders of the parent company of JD0.33 million in Q1 2020, compared to JD1.02 million in Q1 2019. This mainly resulted from incurring investment loss of JD0.83 million compared to investment profits in the corresponding period of 2019, in addition to a decline in the company’s stake from its affiliates’ profits by 76.43% and an increase in the income tax expenses. Based on the disclosed figures, PIIC records book value BV of JD2.16, and P/BV of 0.90x. In the same context, the Vegetable Oil Industries Company VOIC noted posting net income of JD0.33 million in Q1 2020, compared to JD1.67 million in Q1 2019. This mainly followed not recording any profits from the company’s portfolio and available for sale assets compared to recording JD1.15 million in Q1 2019, in addition to incurring loan interests expense, and recording currency exchange losses. Based on the recorded figures, VOIC records BV of JD9.10, and P/BV of 1.40x. Also, Palestine Electric Company PEC disclosed posting net income of $2.84 million; up by 6.77% than the corresponding period of 2019. This mainly resulted from not recorded any credit losses in Q1 2020 compared to Q1 2019 besides an increase in the company’s direct and other revenues. Based on the disclosed figures, PEC records BV of $1.66 and P/BV of 0.84x.

Regarding the dividends distribution approvals for the year 2019, the general assembly of Jerusalem Pharmaceuticals Company JPH approved, in its meeting on 11/05/2020, distributing 10% cash dividends for the year 2019, to record dividends yield of 3.86% based on the price on the entitlement date. Also, the general assembly of Al-Shark Electrode Company ELECTRODE approved, in its meeting on 12/05/2020, distributing 6% cash dividends for the year 2019, to record dividends yield of 3.00% based on the price on the entitlement date.


 

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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