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Medium-volume trading amid the start of 9M 2022 disclosures’ data

2022-10-27

 Sahem Weekly Trading Report (23-27)-10-2022

With the approaching end of October, it remains to the granted legal period to the listed companies to disclose their 9M 2022 financial and operational data 15 days. In terms of liquidity, the trading movements relatively slowed parallel with the disclosure anticipation especially for the leading companies, while Al-Quds Index declined by 0.73% than the previous week, recording 619.99 points. Regarding the blue-chips, they reported decreases in their prices than the previous week. On the other hand, the middle of the coming month will witness disclosures’ momentum. In all cases, the expected 9M financial data will build more on what has been established by many of the Palestine Stock Exchange PEX’s constituents’ components.

Regarding the listed companies financial and operational data disclosures for 9M 2022, the Arab Company for Paints Products APC was the first to disclose its data. APC noted posting net income of JD0.47 million in 9M 2022 compared to JD0.82 million in 9M 2021. This mainly resulted from a decline the company’s gross revenues. Based on the disclosed figures, APC records book value BV of JD3.20 and P/BV of 2.00x. Also, Palestine Securities Exchange Company PSE disclosed posting net income of $1.09 million in 9M 2022 compared to net income of $1.06 million in the corresponding period of 2021. This mainly resulted from an increase in the operational and other revenues in addition to the investment income. Based on the disclosed figures, PSE record BV of $1.28 and P/BV of 2.34x.

Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, exports increased in August 2022 by 26% compared to July 2022. It also increased by 12% compared to August 2021 and reached $154.9 million. Also, imports increased in August 2022 by 7% compared to July 2022. It also increased by 30% compared to August 2021 and reached $729.6 million. While the trade balance which represents the difference between exports and imports showed an increase in trade deficit by 2% in August 2022 compared to July 2022. It also increased by 36% compared to August 2021 and reached $574.7 million.