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Significant balance in the PEX ahead of approaching the anticipation of quarterly disclosure

2013-09-19

Sahem Weekly Trading Report [15-19/09] 2013

 

With the return of liquidity in Palestine Stock Exchange PEX to the relative weakness that was witnessed for a long time before the short recovery that only lasted for several weeks; the market performance was characterized with relative slow price movements amid narrow ranges, whether for Al-Quds Index or for the traded companies’ shares during these sessions.  Despite the slight daily fluctuations- ups and downs-; the balance in the PEX is highly noticed, which in turn, comes from the consistency of the blue-chips around certain support levels that had been transformed from resistance points within the temporary activity momentum that came due to purely optimistic general economic reasons.  Whereas the PEX approaches a routinely anticipation period with the end of September 2013; represented by disclosing the financial and operating results for the first nine months of the current year 2013, to give in turn the green light to vary the roles in terms of supporting and leading Al-Quds Index Based on the disclosed data.

Regarding this week’s trading, the share of Palestine Telecommunications PALTEL- the largest company by market capitalization and the heaviest weighted share in Al-Quds Index- topped the PEX in terms of trading value when reached $0.86 million; contributing around 35.34% of the PEX total trading value in this week. On the other hand, PALTEL’s share increased by 0.59% to close at the level of JD5.10 after minimal price movements and transactions that were supported by executing an institutional transaction in the last session of the week. In turn, attention drags towards the company announcement for the third-quarter data, to build upon the expectations of investors’ financial return for the year 2013 with the approach of the year’s end, especially with the growth in net profit for the last disclosed period and the raise in the company"s level of annual distributions in the past year.

The share of Palestine Development & Investment Company PADICO- the largest investment company by market capitalization and the highest free float shares’ company from the blue-chips- topped the PEX in terms of trading volume when reached 0.30 million shares. PADICO closed at the level of its last week’s closing at $1.06 without any change and within 2% range from its lowest achieved price during the week. On the other hand, the BOD of PADICO held a meeting on 18/09/2013, whereby, discussed the financial statements of the company, cash flow budget in addition to the company’s future plans. Regarding the blue-chips, the share of Bank of Palestine BOP- the largest bank by market capitalization- continued its  active trading when recorded trading value of $0.56 million, whereby, the share decreased by 0.68% to close at the level of $2.93.

Regarding the listed companies news, the BOD of Ramallah Summer Resorts RSR decided to postpone the issue of unsubscribed shares of the secondary subscription in the held meeting on 17/09/2013. Moreover, the companies accelerate in holding their BOD meetings, whereby, the BOD of Palestine Industrial Investment Company PIIC- the investment arm of PADICO Holding in the investment sector- held a meeting on 12/09/2013, whereby, discussed the financial and operational performance of the company and its associates. Furthermore, the BOD of Palestine Investment Bank PIBC discussed the secondary subscription updates to cover the difference between the authorized and paid-up capital.  

 

 

 

 


 

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JREI realizes net loss of $0.10 million in 2023

2024-03-17
NAPCO realizes net loss of JD1.68 million in 2023

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APIC posts net income of $19.05 million in 2023

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SAFABANK realizes net loss of $0.88 million in 2023

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QUDS posts net income of $9.18 million in 2023

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NSC posts net income of JD0.80 million in 2023

2024-03-17
PIBC posts net income of $5.07 million in 2023

2024-03-17
AIB posts net income of $5.52 million in 2023

2024-03-17
ARAB posts net income of JD0.69 million in 2023

2024-03-17
ABRAJ posts net income of $1.02 million in 2023

2024-03-17
TNB posts net income of $14.40 million in 2023

2024-03-17
BOP posts net income of $16.49 million in 2023

2024-03-17
BOP posts net income of $16.49 million in 2023

2024-03-14
Al-Quds Index in the red zone in Ramadan

2024-03-14
BJP posts net income of JD1.84 million in 2023

2024-03-13
RSR posts net income of JD0.33 million in 2023

2024-03-13
PID realizes net loss of JD0.08 million in 2023

2024-03-10
BPC recommends distributing 7% cash dividends for the year 2023

2024-03-10
AMLAK posts net income of $0.07 million in 2023

2024-03-07
Weak trading amid a continuation in the annual data disclosures for 2023

2024-03-05
WASSEL posts net income of $0.54 million in 2023

2024-03-05
PRICO realizes net loss of JD12.10 million in 2023

2024-03-05
UCI posts net income of $1.01 million in 2023

2024-03-03
TIC recommends distributing 15% cash dividends for the year 2023

2024-03-03
ARKAAN realizes net loss of $9.99 million in 2023

2024-03-03
PADICO realizes net loss of $19.34 million in 2023

 

 

 
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