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A decline in activity and Al-Quds index

2008-05-04

As the Legal dead line for the listed company in the PSE to disclose their financial results for the first quarter for this year had finished, 33 companies had disclosed their financials where the remaining two companies hadn’t disclosed. 26 companies from the 33 had realized profit, where seven companies showed loses. As for PALTEL it announced JD 22,7 million as pretax income growing by 74,4%  versus the first quarter of 2007.Meanwhile PSE had vouched a quit transactions, with slightly decline in the Al-Quds index and trading value versus last three weeks.The index had closed this week at the level of  714 points decreased by 0.09% versus closed last week’s closing , affected by decline in services and investment sectors’ indexes, despite of  the increase in  banking, insurance and industry sectors’ indexes .The trading volume had decline by 39.5% to reach daily average of 1.8 million shares last week, versus 3 million shares as daily average previous week. As for trading value it had also declined by %42.02 to reach $7.4 million as daily average versus $12.8 million last week, noting that it had been convened 4 trading sessions due to Labor Day holiday versus 5 sessions last week. In general the last week had vouched 3984 trades, within trading 7.47 million shares that valued $29.8 million versus 6905 trades in the previous week within trading 15.4 million shares that valued$ 64.3 million.