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2020-11-12
Sahem Weekly Trading Report (08-12)-11-2020
Al-Quds Index witnessed, in this week, an increase of 2.67% than its previous weekly closing level, to break through the 440 points barrier which has abandoned for a period of time, closing at the level of 447.70 points. While Palestine Stock Exchange PEX witnessed executing a transaction of 3.50 million shares on the leading stock of the Arab Palestinian Investment Company, to raise the trading value noticeably. On the other hand, with the disclosures’ completion of 43 companies out of 46 listed companies required to disclose their data by the end of the first nine months of 2020, the PEX records an average PE ratio of 17.6x and an average P/BV of 1.07x.
Regarding the data of the PEX’s sectors, the banking and financial services’ sector contributed in 23.90% from total disclosed companies’ profits attributable to the parent companies. Whereby, 83% of the companies that disclosed their data in the sector recorded profits by the end of 9M 2020. According to the disclosed data, the average PE of the sector records 20.5x, and average P/BV reached 1.03x. This came despite the decrease in the sector’s profits attributable to the parent companies by 47.65%. While, Bank of Palestine BOP constitutes the lion’s share of 40.72% from the total achieved profits attributable to parent companies in the sector. In the same context, the insurance sector contributed in 8.13% from total disclosed companies’ profits attributable to the parent companies. Where 67% of the disclosed companies in the sector recorded an increase in their profits attributable to the parent companies, while one company didn’t succeed to disclose its data within the legal granted period. However, the sector’s profits attributable to the parent companies increased by 22.48% in 9M 2020. According to the disclosed data, the insurance sector records an average PE of 13.6x, and an average P/BV of 1.34x.
In the services sector, 7 out of 9 listed companies among the sector disclosed their 9M 2020 financial results; where the services sector contributed by the highest percentage of 43.43% from the total disclosed companies among all sectors in the PEX. Where 75% of the disclosed companies in the sector achieved profits attributable to the parent companies in 9M 2020, whereas, 25% of the disclosed companies in the sector realized net losses compared to the corresponding period of 2019, while, one company didn’t disclose its financial results for 9M 2020 within the granted period by the PEX. Whereby, Palestine Telecommunications Company PALTEL’s profits contributed in 75.99% from the total sector’s profits attributable to the parent companies, in which declined in total by 19.80% compared to the corresponding period of last year. According to the disclosed data, the sector records average PE of 13.2x, and average P/BV of 1.21x.
On the other hand, the investment sector’s profits attributable to the parent companies contributed in 7.60% from the total disclosed companies’ profits attributable to the parent companies; the lowest among all sectors. While, the investment sector’s profits attributable to the parent companies declined by 73.74% in 9M 2020, to record an average PE of 50.2x; the largest among all sectors, and average P/BV of 0.91x; the lowest among all sectors. Regarding the Industry sector, it witnessed a decrease in the sector’s profits attributable to the parent companies by 12.50% in 9M 2020; constituting 16.94% from total sector’s profits attributable to the parent companies, whereby, Birzeit Pharmaceuticals BPC and the Vegetable Oil Industries Company VOIC achieved the highest profits, in which both contributed for 51.87% from total sector’s profits attributable to the parent companies. Accordingly, the Industry sector records an average PE of 12.1x and average P/BV of 1.04x.
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