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2015-11-05
Weekly Trading Report [01-05/11 [2015
Within a distinguished price performance for some blue-chips, Al-Quds Index achieved gains of 1.81% during the week, to surpass the 500 points level which has been abandoned since mid of March 2015. In terms of the week’s trading, the increases in the stocks of Palestine Development and Investment Company PADICO along with Palestine Telecommunications Company PALTEL mainly impacted the widening in Al-Quds Index’s price range, which both weigh around 50% in Al-Quds Index. As for liquidity indicators, the market has not witnessed any significant change in the turnover averages, while there is no doubt that the absence of selling offers on some stocks led clearly to achieve high prices with the surpassing of the purchasing bids following disclosing the financial data of the companies. On the other hand and with the disclosures’ completion of 47 out of 49 listed companies, Palestine Stock Exchange PEX records an average PE ratio of 11.40x and an average P/BV of 1.11x.
Following the data of the PEX’s sectors, all of the listed companies in the banking and financial services’ sector achieved profits in the first nine months of the year 2015, whereby all banks recorded growth in profits except for one other company that reported a decrease in profits. The sector’s profits contributed for 29.40% from the total disclosed companies’ profits attributable to the parent company. According to the data, the average PE of the sector records 11.10x and average P/BV hit 1.23x. These figures came after an increase in profits by 22.78% following recording sharp growths for most banks. On the other hand, Bank of Palestine BOP records the lion’s share of 56% from total achieved profits in the banking and financial services’ sector.
On the other hand, the industry sector records the lowest average PE ratio of 10.07x among the other sectors. This follows the significant increase in the sector’s constituents’ profits by 30.46% and the relatively low market capitalization which was reflected also in the average P/BV of 1.04x. The profits of the sector contributed for 10.18% from the total disclosed companies’ profits. Birzeit Pharmaceuticals Company BPC and the Vegetable Oil Industries Company VOIC achieved the highest profits, whereby both constituted 55.59% from total profits. In the investment sector, it records an average PE ratio of 11.43x and an average P/BV of 0.63x; to report the lowest average P/BV among all sectors. The investment sector’s profits contributed for 15.12% from total profits of the disclosed companies. Whereby the increase came mainly from the recorded profits of Palestine Development and Investment Company PADICO, which in turn covered the highest losses of some companies compared to the corresponding period a year earlier, leading the sector to record 16.73% increase in profits.
In the services sector, most listed companies realized losses in the period, while the total profits of the other companies compensated and led the sector to contribute for 43.55% from the total profits reported by the disclosed companies, which is the highest percentage. This came due to the recorded profits by Palestine Telecommunications Company PALTEL, which side by side to the other two listed companies that achieved profits contributes for 113.74% from the sector’s profits, whereby the other companies constituted a declining factor to profits. The sector records an average PE ratio of 11.58x and an average P/BV of 1.40x. However in the insurance sector, two companies out of seven listed weren’t able to disclose their data within the giving legal period for disclosures. According to the data, the sector records an average PE ratio of 22.30x and an average P/BV of 1.30x.
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