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2022-04-07
Sahem Weekly Trading Report (03-07)-04-2022
With the start of April, Al-Quds Index continued to increase, closing at 615.23 points and recording gains of 0.24% than the previous week after trading in a relatively narrow range. While trading was active on the blue-chips in specific and the other listed companies in general. As the period of holding general assembly meetings of the listed companies is still at its beginning, the PEX will witness new anticipation in mid-April with entering the legal period of disclosing first quarterly financial data of 2022 after extending the legal granted disclosure period for Q1 and Q3 for the listed companies from 30 days to 45 days. As a result, this leads to an overlapping in the anticipation factors among investors and prevailing prices solidity in this period given the fact of conservatism domination more than changing the investment positions
On another hand, the listed companies continued to approve distributing dividends for the shareholders for the year 2021. In this context, the general assembly of Al-Mashriq Insurance Company MIC approved on its meeting on 05/04/2022, raising the paid-up capital from $5.50 million to $7.00 million through distributing 27.27% stocks dividends for the shareholders for 2021. It also approved distributing 2.50% cash dividends for the year 2021, to record dividends yield of 0.77% based on the price on the entitlement date. Also in the insurance sector, the general assembly of Tamkeen Insurance Company TPIC approved, in its meeting on 31/03/2022, distributing 6% cash dividends for the year 2021, to record dividends yield of 2.61% based on the price on the entitlement date.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, primary estimates for GDP at constant prices showed an increase of 5% in Palestine during the 4th quarter 2021 compared to the 3rd quarter 2021 at constant prices, mainly in agriculture, forestry and fishing by 19%, transportation and storage 12%, information and communication 9%, construction 8%, wholesale and retail trade, repair of motor vehicles and motorcycles 7%, public administration and defense 2%. During the year 2021, Gross Domestic Product increased by 7% in Palestine compared to the previous year. GDP per Capita for Palestine at constant prices was USD 791 during the 4th quarter 2021, it showed an increase of 8% compared to the parallel quarter 2020. As for the West Bank it was USD 1,148 at constant prices during the 4th quarter 2021, it showed an increase by 9% during the 4th quarter 2021 compared to the parallel quarter 2020, while for Gaza Strip it was USD 314 during the 4th quarter 2021, and it showed an increase by 6% during the 4th quarter 2021 compared to the parallel quarter 2020.
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