Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Varied market performance amid anticipation for semiannual disclosure

2016-07-28

Weekly Trading Report ]24-28/07 [2016

Within varied market performance for the companies with the heaviest weights in the index, Al-Quds Index ended the week with slight change through high-value transactions which were raised through executing institutional transactions on the shares of the largest bank by market capitalization. Within the trading sessions, most leading stocks tested resistance levels recorded in the previous week, whereby, some succeeded to break-through and transform them into support levels, while others didn’t succeed following the accumulation in the selling offers of small investors for profit taking. This period is characterized with general incentives inactivity following lack of any developments in the political and economic aspects, while Palestine Stock Exchange PEX started to anticipate the semi-annual financial data disclosures, whereby, it is expected that the coming days to witness momentum with the approaching end of the legal period granted to disclose the data in mid August.

Regarding the financial data disclosures, Wataniya Palestine Mobile Telecommunications WATANIYA was the first to disclose its semi-annual financial data for 2016. The company posted for the first time since its establishment a net income of $1.03 million in H1 2016 compared to a loss approximating $8 million in the corresponding period of 2015. Within the disclosed data, WATANIYA recorded gross margin 56.88% in H1 2016; up from 47.28% in H1 2015. While the $2 million recorded recovery of an impairment provision after considering all expenses has enhanced the company’s profits. It is worth mentioning that the company recorded accumulated loss of $198.88 million as of 31/06/2016. In the market, the stock recorded gains of 2.41% when closed at the level of $0.85 through transactions that approximated $100 thousands.

The anticipation increases for the blue-chips disclosures in the coming days, their performance vary in the market amid medium conservative liquidity. Regarding the market performance, the stock of the Arab Palestinian Investment Company APIC decreased this week by 5.03%, to close at the level of $1.51 after the profit taking transactions around the historical recorded levels, while it recorded transactions worth $1.03. In contrary, the stock of Palestine Development and Investment Company PADICO increased by 0.85%, to close at the level of $1.18 after transactions worth $0.65 million. It is good to note that the board of directors of PADICO held a meeting last week and discussed the impact of selling the company’s stake in the Arab Hotel Company AHC and updates regarding the bonds issuance. However, the stock of Palestine Telecommunications PALTEL, declined slightly by 0.19%, to close at the level of JD5.18 with transactions worth $0.72 million. On the other hand, the stock of Bank of Palestine BOP constituted 75.50% from PEX total market value, when recorded trading value of $10.67 million after executing several transactions with high volume. BOP increased 0.40% and closed at $2.53.

 

 


 

2016-07-28
Varied market performance amid anticipation for semiannual disclosure

2016-07-27
WATANIYA posts net income of $1.03 million in H1 2016

2016-07-21
Relative balance in Palestine Stock Exchange ahead of the awaited semiannual disclosure

2016-07-17
PHARMACARE approves 8% cash dividends for the year 2015

2016-07-14
Al-Quds Index gains 1.7% from blue-chips

2016-07-04
Eid Al-Fiter Holiday

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013