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2021-02-04
Sahem Weekly Trading Report (31-01)-(04-02)-2021
With the start of February, executing several medium-volume transactions in Palestine Stock Exchange PEX on some stocks of the banking and financial services’ sector and other leading stocks in this week have raised the trading value in this week. Whereby, executing such transactions in this routine period may be related to repositioning reasons on specific stocks and sectors during the dividends distribution announcements period. In this context, a cross transaction of 0.79 million shares was executed on the stocks of Al-Quds Bank QUDS, whereby, the Palestinian Pension Agency PPA purchased the stocks from the Employees Provident Fund of QUDS. Also, a transaction worth 0.24 million shares was executed on the stocks of Palestine Islamic Bank ISBK. In the same context, a transaction of 0.21 million shares was executed on the stocks of the largest company in the PEX in terms of market capitalization- Palestine Telecommunications PALTEL-. On another hand, Al-Quds Index closed in the red zone at 489.13 points; down by 0.32% than its previous weekly closing level. Regarding the PEX’s indicators, some of the important news this week is the start of announcing the preliminary annual financial and operational data disclosures by the listed companies.
Regarding the listed companies’ preliminary financial data disclosures for the end of 2020, the leading company -the Arab Palestinian Investment Company APIC- was the first to disclose its data. Whereby, noted posting net income attributable to the shareholders of the parent company of $19.85 million at the end of 2020, compared to $17.87 million at the end of 2019. This mainly resulted from an increase in the company’s revenues from sales and commissions, in addition to reporting profits from its investment in an affiliate versus reporting losses in the previous year. Regarding the disclosed data, APIC records book value BV of $1.53, and P/BV of 1.93x. Also, APIC records earnings per share EPS of $0.209, and P/E of 14.16x. In the same context, the National Aluminum and Profile Company NAPCO disclosed posting net income of JD0.007 million at the end of 2020; down by 98.33% than the year 2019. This mainly followed a decline in the company’s sales and an increase in its expenses. Based on the disclosed data, NAPCO records BV of JD1.68, and P/BV of 0.60x.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics, The overall Industrial Production Index IPI in Palestine with its Base Year (2018) reached 95.60 in 2020 which indicates a sharp decrease by 7.95% compared to 103.86 in 2019. IPI for 2020 decreased due to the decrease in the activities of Mining and Quarrying by 23.07%, and the activities of Manufacturing Industry by 10.46%, while the activities of Electricity, Gas, Steam and Air Conditioning Supply increased by 11.61%, and the activities of Water Supply, Sewerage, Waste Management and Remediation increased by 5.98%.
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