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Al-Quds Index continues its declining with the start of December

2021-12-02

 Sahem Weekly Trading Report (28-11)-(02-12)-2021

With the start of the last month of the year 2021, Al-Quds Index continued to decrease in this week as well, declining from the 600 points physiological barrier, closing at 597.99 points; down by 1.71% than the last week. This came amid decreases in the prices of most blue-chips than last week. While this week witnessed active trading on the stock of the largest investment company in Palestine Stock Exchange PEX- Palestine Development and Investment Company PADICO- to top the PEX trading value for this week. Moreover, within the end of 2021, increasing anticipations among all categories of investors and observers for the upcoming last trading sessions of the year appear with cautious moves towards the year 2022 after emphasizing the positive vision of the PEX and its development on an annual basis historically, in line with its distinguished entity and ability to isolate itself by itself from any political and economic developments.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Producer Price Index (PPI) for Palestine with its base year (2019) reached 100.16 in October 2021, as it decreased by 0.81% compared to September 2021 which stood at 100.98. The decline in the PPI came due to the decrease in the prices of major activates: agriculture, forestry and fishing goods by 6.55%, which constitute 29.94% from total major activities’ prices, mining and quarrying by 0.27%, which constitute 1.41% from total major activates’ prices, despite an increase in the prices of: water supply; sewerage, waste management and remediation activities by 5.03%, which constitute 1.50% from total major activities’ prices, electricity, gas, steam and air conditioning supply by 2.45%, which constitute 8.23% from total major activities’ prices, and manufacturing by 1.33%, which constitute 58.92% from major activities’ prices.

In another context, the listed companies accelerated to determine dates to hold their board of directors BOD’s meetings, to discuss and approve the financial data for November 2021. In This context, the BOD of the Vegetable Oil Industries Company VOIC will be holding a meeting on 07/12/2021. Also, the BOD of Birzeit Pharmaceuticals Company BPC will be holding a meeting on 08/12/2021. In the same context, the BOD of Palestine Poultry Company AZIZA will be holding a meeting on 11/12/2021. In addition, the BOD of Palestine Telecommunications PALTEL will be holding a meeting on 12/12/2021. Moreover, the BOD of the National Insurance Company NIC will be holding a meeting on 15/12/2021. Furthermore, the BOD of the National Bank TNB will be holding a meeting on 19/12/2021.