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Al-Quds Index in a horizontal movement amid of scarce trading

2015-07-02

Weekly Trading Report [28/06-02/07- [2015

 

Inertness and anticipation were still imposed on Palestine Stock Exchange PEX, amid horizontal movement in the index that is likely to drop, generally following a scarcity of incentives. Trading and price movements were slow this week, and liquidity was trapped around the current trading prevailing prices, amid raising the anticipations for the semiannual financial disclosures for the listed companies and especially for the leading the high-turnover ones. In all cases, most companies’ shares have attractive and competitive market indicators similar to other regional markets. Regarding the liquidity indicators and despite their relative weakness and the likelihood of continuing at the same levels in parallel with the lack of public events and the surrounding mystery, the institutional and foreign liquidity momentum are still absent to contribute in growth quantum leap that may change the PEX’s indicators as a whole.

Regarding some real and expected data, in which can reflect numbers and facts about the Palestinian economy’s elements and may spell some optimism. In this regard, total assets of the Palestinian banks recorded $11.82 billion as of the end of 2014; a growth rate of 5.60% compared to the end of 2013. Where customers’ deposits grew to $8.93 billion by 7.60% compared to 2013. In the forecasts, Palestine Monetary Authority PMA expected that the Palestinian economy will recover during 2015. The PMA expected – in a press release- for the local economy to slightly recover during 2015 by 1.9%. However, this recovery will not be enough to improve the living standards of citizens.

In terms of this week trading, Al Quds Index ended its $2.83 million transactions in the red zone, closing at 478.44 points; a drop of 0.18%. For the leading shares, Palestine Telecommunications PALTEL- the largest company by market capitalization- closed at JD5.36; down by 0.56% following transactions that valued at $0.71 million. While Bank of Palestine BOP- the largest bank by market capitalization- closed at $2.55; up by 1.19% after transactions of $0.39 million. As for the leading Palestine Development & Investment PADICO- the largest investment company by market capitalization-, the share stabled to close at $1.17 following transactions of $0.33 million.

 

 


 

2015-07-02
Al-Quds Index in a horizontal movement amid of scarce trading

 

 

 
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