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Significant drop in the index prior to quarterly disclosure momentum

2014-10-23

Sahem Weekly Trading Report [19-23/10[2014

The quarterly financial data disclosure for the listed companies in Palestine Stock Exchange PEX is still in its weak pace.  Whereas, the PEX enters, in the coming week, the last days of the legal granted period to the listed companies to disclose their quarterly financial results, in which finishes by the end of the current month. It is expected that the coming period witnesses a momentum of disclosures, especially for the blue-chips with heavy weights in the index and highest turnover in the market.  Regarding this week’s trading, the liquidity has weakened, while, Al-Quds Index decreased due to a decline in the prices of the leading shares that are dominated by the anticipation for their financial data, to explain the purchasing depth on some shares with distanced prices, in turn to the existing process that fastened the price slipping. On the other hand, this period is observed with general anticipation, whereby, rebuilding Gaza Strip after the war is one of its motives, but the political shift is its chief motive. 

Regarding the listed companies’ financial data disclosure for 9M 2014, and due to the significant increase of 41.34% in the PEX’s trading value during the current period compared to the corresponding period of 2013, Palestine Securities Exchange Company PSE- the operator of the PEX- announced posting net income of $0.28 million in 9M 2014 compared to net loss of $0.40 million in 9M 2013. This came following the increase in trading and transfer commissions by 40.27%, in addition to a significant increase in membership and registration fees. According to this data, PSE’s book value BV increased to $1.04 compared to $1.01 at the end of 2013. In the context of blue-chips and relative high turnover shares, the Arab Palestinian Investment Company APIC announced posting net income attributable to the shareholders of the parent company of $7.10 million in 9M 2014; up by 25.06% than 9M 2013. This coincides with an increase in net sales by 24.92% and non-operating revenues by 140%. According to the disclosed data, APIC’s BV recorded an amount of $1.28 based on net equity attributable to the shareholders of the parent company. 

As regards to the distinguished disclosures, the financial data of the Vegetable Oil Industries Company VOIC showed posting net income of JD3.94 million in 9M 2014; up by 5.83% than 9M 2013. This came parallel to an increase of 27.70% in operating revenues, as well as a growth in the company’s stake from associates’ profits by 13.90%; contributing around 96.55% from total net income. It is worth mentioning that VOIC’s BV increased to JD4.83 in 9M 2014. On the other hand, Wataniya Palestine Mobile Telecommunications WATANIYA announced lowering its net loss noticeably to $10.67 million in 9M 2014 compared to net loss of $17.48 million in 9M 2013, while the BV of the share continues to decrease to $0.31.


 

2024-03-28
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2024-03-26
APIC recommends distributing 6.838% stocks dividends for the year 2023

2024-03-21
Al-Quds Index continues to decline amid lack of general liquidity

2024-03-18
AQARIYA records net income of $0.83 million in 2023

2024-03-18
AHC realizes net loss of JD1.67 million in 2023

2024-03-18
JCC posts net income of JD1.77 million in 2023

2024-03-18
GMC posts net income of JD0.003 million in 2023

2024-03-18
SANAD realizes net loss of $5.03 million in 2023

2024-03-18
ISBK posts net income of $4.85 million in 2023

2024-03-18
JREI realizes net loss of $0.10 million in 2023

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

2024-03-17
APIC posts net income of $19.05 million in 2023

2024-03-17
SAFABANK realizes net loss of $0.88 million in 2023

2024-03-17
QUDS posts net income of $9.18 million in 2023

2024-03-17
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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