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2024-02-01
Sahem weekly trading report (28-01)-(01-02)-2024
With the start of February and the expectations’ variation among investors regarding the listed companies’ profits of the year 2023 and their recommendations regarding distributing dividends for the investors, Al-Quds Index traded at 557.48 points; standing still with a slight increase of 0.05% than the previous week after trading in a relatively narrow range. On the other hand, Palestine Stock Exchange PEX lacked any trading momentum and witnessed absence of executing institutional transactions that may increase the trading value in the market from time to time. However, the anticipation increases coinciding with the approaching end of the legal period granted by the PEX to the listed companies to disclose their preliminary annual financial data on February 15th. Whereby, the following week is expected to witness a momentum in this regard.
Regarding the significant news, the listed companies continued to determine dates to hold their board of directors meetings in order to discuss and approve the financial and operational data for the year 2023. In this context, the board of directors BOD of both Global United Insurance Company GUI and Amlak Real Estate Investment & Trading AMLAK will be holding meetings on 08/02/2024. Moreover, the BOD of the Golden Wheat Mills Company GMC will be holding a meeting on 11/02/2024. Also, the BOD of Palestine Telecommunications PALTEL will be holding a meeting on 12/02/2024. On the other side, the BOD of the Arab Islamic Bank AIB, Palestine Islamic Bank ISBK and Palestine Development and Investment Company PADICO will be holding meetings on 13/02/2024. In addition, the BOD of the National Carton Industry NCI will be holding a meeting on 18/02/2024.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Producer Price Index PPI in Palestine with its base year (2019) reached 111.09 in 2023, which indicates a sharp increase by 5.48% compared to 2022. Prices of PPI for 2023 sharply increased due to the increase in the prices of goods in the following major activities: agriculture, forestry and fishing activities by 15.75%, electricity, gas, steam and air conditioning supply activities by 8.40%, mining and quarrying activities by 2.59%, and manufacturing activities by 0.51%. While, water supply; sewerage, waste management and remediation activities decreased by 0.37% in 2023 compared to 2022. Also, the prices of locally consumed products sharply increased by 6.04% and the prices of local exported products increased by 0.38%.
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