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Transactions on APIC raise the trading value fiery


 Sahem Weekly Trading Report (13-17)-09-2020

In this week, executing several transactions of 20.55 million shares on the leading stock of the Arab Palestinian Investment Company APIC, raised the trading value in Palestine Stock Exchange to a relatively fiery level. Whereby, the chairman and the CEO of APIC- Mr. Omar Aqad- transferred all of his 19.46 million owned shares in APIC to Aggad International Investment Company LTD. In the market, APIC increased by 1.25% than the previous week, to close at $2.43. On another hand, the normal trading witnessed lack of momentum amid weak selling offers in their depth. Regarding Al-Quds Index, it recorded gains of 0.24% than the previous week, to close at the level of 445.31 points. In another context, despite the different and varied investors' motives in the PEX, but the current recorded price levels by the companies’ stocks are considered attractive to buy. Moreover, as obvious to the observer, the current month of September is of much importance with the approach of the companies’ announcements of financial results for the third quarter of this year, because of their ability to boost the price jumps to chart the trend of the PEX until the end of the year.

Regarding the substantial news of this week and based on the securities listing regulations in Palestine Stock Exchange PEX, which sums up that any listed companies’ stocks must be delisted from the PEX if the company’s shares and bonds are not traded for a whole full year, or if the securities’ listing was suspended for more than a year without any release by the company about its situation based on the securities trading system by the PEX, and after the approval of Palestine Capital Market Authority PCMA, it was decided to delist the stocks of the Arab Real Estate Establishment ARE and Globalcom Telecommunications GCOM from the PEX from Sunday 20/09/2020. Whereby the number of listed companies in the PEX will decline from 48 companies to 46 companies.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Consumer Price Index  CPI for Palestine during August 2020 slightly increased by 0.03% compared with July 2020 (by 0.29% in Jerusalem, and by 0.20% in Gaza Strip, while it slightly decreased by 0.08% in the West Bank). The increase in the Palestinian CPI for August 2020 were traced back to the increase in the prices of the following expenditure sub groups compared with previous month: fresh chicken by 2.83%, fish (live, fresh, chilled or frozen) by 2.78%, potatoes and other tubers by 2.40%, gas by 1.84%, versus a decline in the prices of eggs by 6.48%, fresh fruit by 1.78%, dries vegetables by 0.53% and fresh vegetables by 0.44%. On another hand, The Palestinian CPI during August 2020 decreased by 2.42% compared with August 2019 (by 2.67% in the West Bank, by 2.10% in Gaza Strip, and by 0.45% in Jerusalem).


VOIC records net income of JD6.61 million in 9M 2023



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