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Al-Quds Index stood still amid the start of the semi-annual financial data disclosures

2021-08-05

 Sahem Weekly Trading Report (01-05)-08-2021

In the first week of August, Al-Quds Index traded in a relatively narrow range, breaking-through the 580 points level and rebounding from, to stand still at 578.20 points level; up slightly by 0.01% than the previous weekly closing level. On the other hand, Palestine Stock Exchange PEX witnessed medium-volume trading, which included executing a transaction of 0.41 million shares on the stocks of Al-Quds Bank QUDS, whereby, Al-Quds Bank Employees Provident Fund sold 0.25 million shares of its owned stocks in QUDS. In contrast, the listed companies accelerated to determine dates to hold their board of directors meetings in order to discuss and approve the semi-annual financial data disclosures for the year 2021. In another context, the anticipation increases, while the PEX enters the last third of the legal period of the listed companies’ semi-annual financial data disclosures noting that only one company had disclosed its semi-annual results.

Regarding the listed companies financial and operational data disclosures for H1 2021, Palestine Investment and Development Company PID was the first to disclose its data, whereby, noted posting net income of JD0.66 million in H1 2021, compared to net loss of JD0.51 million in H1 2020. This mainly resulted from recording JD0.89 million profits from revaluating financial assets for trading compared to loss in the compared previous period. Based on the disclosed figures, PID records book value BV of JD0.65, and P/BV of 2.54x.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Industrial Production Index IPI in Palestine reached 107.65 during June 2021 with an increase of 10.60% compared to 97.34 in May 2021 (Base Year 2019). IPI for June 2021 increased due to the increase in the activities of water supply, sewerage, waste management and remediation by 31.68%, constituting a share of 1.84% of the total industry, the activities of manufacturing industry by 11.42%, constituting a share of 87.89% of the total industry, and the activities of mining and quarrying by 0.49% which had a share of 2.89% of the total industry, while the activities of electricity, gas, steam and air conditioning supply decreased by 1.39% which had a share of 7.38% of the total industry.


 

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