send to a friend by email

Huge losses in Arab stock exchanges, and Al-Quds index leads the gaining indices for this year

2008-09-21
Arab exchanges had vouched huge losses; the least was attained by Tunisia and Palestine last week, affected by the chaos that swept the global financial markets due to the collapse of "Lehman brothers Bank" and selling "Merrill Lynch" in addition to the USA take over on one of the biggest insurance companies in the world " AIG", and the USA announced at the end of the week the largest governmental plan to rescue the financial sector that may costs trillion dollars. Al-Quds index in the PSE closed the week at 658.54 points declining by %2.27, to be ranked as the second least loser among the Arab indices after the Tunisian exchange.  The descending had touched all the sectors in the PSE, when Investment index declined by %3.95, Banking index by %3.2, Industry index by %2.83 and Insurance by %1.58, where services index was the least loser by %1.07. Average daily trading value also retreated by %29.19 to reach $3 million last week comparing to $4.3 million in the previous week, despite the growth of average daily trading volume by %48.14 to reach 950 thousands last week versus 640 thousands in the previous week. In aggregate, last week PSE vouched 2205 contracts within 4.76 million shares that valued $15.20 million, comparing to 1427 contracts within 3.2 million shares that valued $21.4 million in the previous week. Among 30 listed companies" shares that had been traded last week, 25 witnessed a decline and 3 witnessed an increase in addition to the stability of the 2 remaining companies" shares. Also the market capitalization for the Palestinian shares had crossed the $3 billion falling to $2,954 billion at the end of the week, comparing to $3,022 billion at the end of the previous week.