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Al-Quds Index rebounds upward amidst optimism

2014-08-28

Sahem Weekly Trading Report [24-28/08/2014]

Al-Quds Index has fluctuated upward and downward for the last three months, while witnessed fast price fluctuations during the Israeli aggression on the Gaza Strip. But along the blurry political scene, the fluctuations weren’t of the size of the incident. The upward fluctuations outweighed the downward ones, to be reflected in an increase in Al-Quds Index by 3.83% since the end of June 2014. The reporting of the ceasefire news had the lion’s stake of moving the optimism or pessimism, whereby, Al-Quds Index quickly rebounded upward by 1.05% during this week after reaching a long term Israeli- Palestinian truce agreement in Gaza Strip after seven weeks of war, which in turn raised new topics to be discussed such as serious negotiations.  As a natural reaction, transactions in Palestine Stock Exchange PEX were revived parallel with what supports the prices stability and increase their levels. The listed companies’ financial results in H1 2014 coincided with the positive investors’ expectations that preferred retaining their investment positions instead of abandoning them amid the political tension, to be the most important incentive and investors’ reassurance.  

During the week, some shares witnessed a distinguished performance in leading Al-Quds Index and increasing the transactions due to the speculative character on one hand and the substantial news momentum on another hand. Regarding its relative price stability, the share of Palestine Telecommunications Company PALTEL- the largest company by market capitalization- topped the PEX in terms of trading value; contributing around 35.55% of the PEX total trading value, to close at the level of JD5.58; slightly down by 0.36%. On the opposite, the share of Palestine Development and Investment Company PADICO – the largest investment company by market capitalization- gained significantly by 3.85%; and constituting the most important leverage to the Index during the week. PADICO ended its transactions that are worth 23.51% of the total PEX trading value at the level of $1.62.  Moreover, the share of Bank of Palestine BOP- the largest bank by market capitalization- could only post gains of 0.36%, to close at the level of $2.81, after transactions that constituted 7.28% of the total trading value of the week.

Regarding the active shares- the share of The National Bank TNB- which traded in a wide range due to entitling the right of subscription in the bank’s shares that will be offered for secondary subscription during the week. The substantial news witnessed a momentum at the end of the week after announcing signing a memorandum of understanding with Bank Al-Etihad in Jordan to acquire its assets and liabilities in Ramallah, Palestine, whereby, Bank Al-Etihad will become a strategic partner in TNB’s paid up capital that will reach $75 million after a 10% subscription. As a result of these developments, TNB stabilized at the end of the week, to close at the level of $1.14 after touching the $1.25 level.

 

 

 

 

 

 


 

2014-08-28
Al-Quds Index rebounds upward amidst optimism

2014-08-27
Palestine Mortgage and Housing Corporation calls an extraordinary general assembly meeting

2014-08-27
A memorandum of understanding to acquire Bank Al-Etihad by The National Bank

2014-08-27
PALAQAR reports net income of JD0.02 million in H1 2014

2014-08-25
PEC reports net income of $7.07 million in H1 2014

2014-08-21
Al-Quds Index drops slightly during the week

2014-08-19
PALTEL reports net income of JD48.05 million in H1 2014

2014-08-18
PADICO posts net income of $15.01 million in H1 2014

2014-08-18
PHARMACARE records net income of $1.42 million in H1 2014

2014-08-18
PRICO posts net income of JD0.42 million in H1 2014

2014-08-18
MIC realizes net loss of $0.03 million in H1 2014

2014-08-18
RSR records net income of JD0.07 million in H1 2014

2014-08-17
ARE realizes net loss of JD0.12 million in H1 2014

2014-08-17
PICO posts net income of $0.35 million in H1 2014

2014-08-17
GUI posts net income of $0.50 million in H1 2014

2014-08-17
JREI realizes net loss of $0.31 million in H1 2014

2014-08-17
PLAZA realizes net loss of JD0.02 million in H1 2014

2014-08-17
GCOM realizes net loss of $0.36 million in H1 2014

2014-08-17
ABRAJ posts net income of $0.11 million in H1 2014

2014-08-17
AHC realizes net loss of JD0.30 million in H1 2014

2014-08-17
NAPCO records net income of JD0.24 million in H1 2014

2014-08-17
JCC realizes net loss of JD0.92 million in H1 2014

2014-08-17
WASSEL realizes net loss of JD0.23 million in H1 2014

2014-08-17
QUDS records net income of $3.64 million in H1 2014

2014-08-17
GMC posts net income of JD0.17 million in H1 2014

2014-08-17
JPH records net income of $0.16 million in H1 2014

2014-08-17
TIC posts net income of $1.45 million in H1 2014

2014-08-17
TRUST reports net income of $1.07 million in H1 2014

2014-08-14
Al-Quds Index in the green zone for the second week in row and PALTEL’s profits up by 6%

2014-08-14
AQARIYA realizes net loss of JD0.20 million in H1 2014

2014-08-14
NIC records net income of $1.36 million in H1 2014

2014-08-14
PIBC posts net income of $1.54 million in H1 2014

2014-08-14
BOP records net income of $18.98 million in H1 2014

2014-08-14
PCB posts net income of $0.52 million in H1 2014

2014-08-14
APIC records net income of $7.80 million in H1 2014

2014-08-14
UCI posts net income of $0.56 million in H1 2014

2014-08-14
NSC records JD0.36 million net income in H1 2014

2014-08-14
PMHC posts net income of $0.17 million in H1 2014

2014-08-14
BPC reports net income of $4.20 million in H1 2014

2014-08-13
PID records net income of JD0.06 million in H1 2014

2014-08-13
PIIC posts net income of JD2.55 million in H1 2014

2014-08-12
The agreement of listing PCB’s bonds was signed

2014-08-12
LADAEN realizes net loss of JD0.24 million in H1 2014

2014-08-12
TNB posts net income of $2.23 million in H1 2014

2014-08-12
AZIZA records net income of JD2.03 million in H1 2014

2014-08-12
NCI posts net income of $0.40 million in H1 2014

2014-08-12
ISBK records net income of $3.37 million in H1 2014

2014-08-11
The National Bank decides the entitlement date for the secondary subscription

2014-08-10
ARAB realizes net loss of JD0.01 million in H1 2014

2014-08-10
VOIC posts net income of JD2.67 million in H1 2014

2014-08-10
PSE records net income of $0.31 million in H1 2014

2014-08-10
APC reports net income of JD0.50 million in H1 2014

2014-08-07
Al-Quds Index in the green zone amid substantial news on companies

2014-08-07
ELECTRODE reports net income of JD0.05 million in H1 2014

2014-08-06
AIB posts net income of $2.48 million in H1 2014

2014-08-03
Trading on PEC’s share was halted

 

 

 
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