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Al Quds index declines… and growing anticipation for the medium run

2015-05-28

Weekly Trading Report [24-28/05/ [2015

Within scarce transactions, Al-Quds Index declined again due to the lack of purchasing bids momentum around the levels witnessed by some leading stocks in the previous week. Despite executing some institutional transactions from time to time, the trading in Palestine Stock Exchange has been weak and lacked the price trending for a period of time, parallel to entering expected routine periods due to the financial data disclosure or dividends distribution. On the other hand and within the anticipated sustainable drivers in the PEX, it is expected that the PEX to be upgraded to a frontier market status by FTSE group during the next classification review on September 2015. This comes after meeting the qualities of markets criteria, including: regulatory environment, capital controls, clearing & settlement, and market transparency. This upgrading grants the PEX a momentum and international spread, as these international indices have an importance in terms of attraction to financial institutions and regional and international funds. Whereby, the attention and anticipation are now directed to the Palestinian investment environment, within this step, in order to transfer the PEX from the lack of liquidity and deadlock levels, to other better performance levels. 

Regarding the substantial news in the PEX and parallel to Palestine Monetary Authority PMA’s plan to increase the capital of the banks and enhance their ability to handle losses and achieve sustainable development, the PMA approved increasing the minimum required paid-up capital of the banking sector in Palestine from $50 million to $75 million or what is equivalent in other currencies, by giving the banks three years from the date of instructions issuance. It is worth mentioning that from the 7 listed banks in the PEX; only 2 banks meet the capital requirement. These banks are: Bank of Palestine BOP and the National Bank TNB, while the paid-up capitals of the other banks range between $30 million and $50 million. On the other hand, the PEX announced the listing of the shares of Beit Jala Pharmaceutical Company on the trading session of Tuesday 16/06/2015, in the industry sector in the PEX within the secondary market. According to the company, it’s paid up capital stands at JD5.35 million, while it produces medical products and pharmaceuticals. 

Regarding this week’s trading, the return of Palestine Telecommunications PALTEL’s stock- the heaviest weighted in Al-Quds Index- to trade below the JD5.40, was the main reason to the declining of the Index and its closing in the red zone, side by side to the decrease of the leading stock- Palestine Development and Investment PADICO- due to continuing to trade in ex-dividends. Regarding the liquidity indicators, the transactions of the leading stocks were characterized with weakness, while, executing institutional transaction on the shares of the National bank TNB increased the weekly trading value.

 

 


 

2015-05-28
Al Quds index declines… and growing anticipation for the medium run

2015-05-27
The shares of Beit Jala Pharmaceutical Company will be listed in the PEX on the 16th of June 2015

2015-05-25
PALAQAR realizes net loss of JD0.002 million in Q1 2015

2015-05-24
FTSE to upgrade Palestine Exchange to Frontier market status

2015-05-21
An increase in the index despite ex-dividend trading

2015-05-19
PADICO approves 5% cash dividends for the year 2014

2015-05-18
PIBC approves $1.30 million stocks dividends for the year 2014

2015-05-14
Varied performance by blue chips amid scarce liquidity

2015-05-13
PHARMACARE posts net income of $1.02 million in Q1 2015

2015-05-07
A Horizontal performance in the stock market amid a scarcity of general incentives

2015-05-05
AIG posts net income of $0.44 million in Q1 2015

2015-05-04
AIB approves 8% cash dividends for the year 2014

2015-05-04
RSR posts net income of JD0.09 million in Q1 2015

2015-05-04
WASSEL realizes net loss of $0.37 million in Q1 2015

2015-05-04
JCC realizes net loss of JD0.67 million in Q1 2015

2015-05-04
AHC realizes net loss of JD0.34 million in Q1 2015

2015-05-04
LADAEN realizes net loss of JD0.07 million in Q1 2015

2015-05-04
MIC posts net income of $0.05 million in Q1 2015

2015-05-04
GUI reports net income of $0.41 million in Q1 2015

2015-05-04
PICO records net income of $0.21 million in Q1 2015

2015-05-04
AIB posts net income of $1.31 million in Q1 2015

2015-05-04
NAPCO approves 5% cash dividends for the year 2014

 

 

 
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