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Palestine Exchange in the red zone as the rest of the region's markets

2015-08-27

Weekly Trading Report [23-27/08/ [2015

Despite the weak correlation between the worldwide economies and the Palestinian economy on one hand, and the international financial markets’ movement with Palestine Stock Exchange PEX movement on another hand, the red dominated the PEX following the declines in some effectible stocks in Al-Quds Index. Whereas, this decline cannot be attributed to the sharp fluctuations in the international markets, which in turn was resulted from the fears of slowness in the economic growth in the world’s second largest economy and exporter of goods and commercial services and what may cause of declines in other economies, but the PEX continued its declining for this week to report losses of 1.45% due to recording new 52 weeks lows by some stocks. Far from the physiological affection on the traders of the PEX by the external factors, there is no doubt that particular tempers dominate their behaviour in the local market, which are completely differentiated from their corresponding in other markets and are characterized with basis, drivers and barriers that stem from the distinct entity of the Palestinian investment environment in general and the PEX in particular. Some distinction may be positive such as the legislative environment, investment easiness and rewarding return, while others are negative with significant impact such as the political horizon blockage and lack of foreign liquidity.

The end of the semi-annual financial data disclosure- despite its varying results- hasn’t contributed in limiting the gradual decline in the PEX on one hand, and stimulating the liquidity- even if speculative or newly invested- on another hand. In aggregate, the liquidity indicators haven’t changed this week than the previous ones, leading the trading levels to remain in the minimum levels without any momentum in general or on one of the listed stocks. The declining in the stock of Palestine Development and Investment Company PADICO in the PEX widely affected the Index. PADICO decreased, during the week, to record the lowest level in a year; down by 3.51% when closed at the level of $1.10 after medium-transactions worth of $0.50 million. It is worth mentioning that PADICO disclosed previously a slight decrease in its net income attributable to the shareholders of the parent company following a decline in its share from Palestine Telecommunications’ profits despite the increase recorded in the operating revenues of its subsidiaries. Moreover, the stock of Palestine Telecommunications PALTEL- the heaviest weighted in Al-Quds Index- decreased by 1.09%, to close at the level of JD5.42 after transactions worth $0.54 million.

Regarding the other trading, the stock of Bank of Palestine BOP also declined by 1.92% and closed at the level of $2.55 after transactions that worth of $0.56 million. While, trading was relatively active on some stocks in the banking sector. Whereby, the trading value of the National Bank TNB increased to $0.61 million; up by 3.70% when closed at the level of $1.40. It is worth mentioning that the bank has disclosed recording an increase of 20.30% in its net income in H1 2015. Moreover, the trading value of Al-Quds Bank QUDS increased to report $0.28 million, closing at the level of $1.06; up by 0.95%.

 


 

2024-03-28
Weak trading with the approaching end of Q1 2024

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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