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$72 million is the Palestinian stocks losses

2008-08-10
The Palestinian stocks had attained tough losses that exceeded $ 72 million last week, to drop the index by 16 points or %2.28 to close the week at the level of 686.33 points, affected by a remarkable decline in all the sectors" indices in a percentage that varied between %1.54 in banking sector and %4.60 in insurance sector. Three companies had disclosed their semiannual results; PALTEL BPC and NIC, where 33 listed companies had not disclosed their results yet, noting that 5 days left for ending the legal period for disclosures according the PSE regulations that is 45 days  from the last day in the first half of the year. While the companies" dalliance in disclosing their financial results, most of the listed shares closed their transactions declining versus the previous week. (30) Companies’ shares were traded, where (25) witnessed a decrease, (3) witnessed an increase and the rest (2) companies’ shares stabled.  The PSE lost by %2.29 from its market capitalization that had descended to $3.089 billion at the end of last week, versus $3.161 billion at the end of the previous week. Among the activity, the PSE vouched a noticeable increase in the transactions versus the previous week, but still limited in narrow levels. Average daily traded volume advanced by %16 to reach $492 thousand last week versus $424 thousand in the previous week, where average daily traded value also rises by %11.17 to reach $1.70 million versus $1.50 million in the previous week, noting that last week witnessed 5 trading session versus 4 trading sessions in the previous week. In aggregate, PSE vouched 2033 contracts within trading 2.46 million shares that had valued $8.7 million