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2024-11-07
Sahem weekly trading report (03-07)-11-2024
With the start of November, Al-Quds Index closed with a slight decrease of 0.02% than its previous weekly closing level, after recording 477.79 points. Whereby, most leading stocks- with heaviest weights and effects on Al-Quds Index- stood still, closing without any change than the previous weekly level. Moreover, the trading this week was weak, lacking any momentum and institutions transactions which may raise the trading value in Palestine Stock Exchange PEX from time to time, if we exclude the trading on the leading stock of Palestine Development and Investment Company PADICO, which witnessed activity. On another hand, the 9M 2024 financial data disclosures continued by the listed companies.
Regarding the insurance companies’ financial and operational data disclosures for 9M 2024, Ahliea Insurance Group Company AIG noted posting net income attributable to the shareholders of the parent company of $0.92 million in 9M 2024, compared to $0.02 million in the corresponding period a year earlier. This mainly resulted from an increase in the company’s revenues from insurance and reinsurance contracts. Based on the disclosed figures, AIG posts book value BV of $1.45 and P/BV of 0.12x. Also, Palestine Insurance Company PICO disclosed posting net income of $1.82 million in 9M 2024, compared to $0.98 million in 9M 2023. This resulted from an increase in the company’s revenues from insurance and reinsurance contracts and investment. Based on the disclosed figures, PICO posts BV of $1.55, and P/BV of 2.26x.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Industrial Production Index IPI in Palestine reached 81.03 during September 2024 with a decrease of 26.11% compared to September 2023 (Base Year 2019). Compared with previous month, the overall IPI in Palestine reached 81.03 during September 2024 with a decrease of 0.63% compared to August 2024 (Base Year 2019). IPI for September 2024 decreased due to the decrease in the activities of electricity, gas, steam and air conditioning supply by 9.16%, which had a share of 7.38% of the total industry, the activities of mining and quarrying by 5.67%, which had a share of 2.89% of the total industry, and the activities of water supply, sewerage, waste management and remediation by 0.20%, which had a share of 1.84% of the total industry. While, the activities of manufacturing Industry increased by 0.75%, which had a share of 87.89% of the total industry.
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