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2016-08-04
Weekly Trading Report ]31/07-04/08 [2016
Within medium-volume transactions that were raised through executing institutional transactions on the shares of the largest bank by market capitalization in Palestine Stock Exchange PEX, Al-Quds Index traded in 6-points price range amid positive performance outcome of the heavy weighted leading stocks. The variation in the price performance of these stocks greatly impacted the balancing of the Index around its previous closing level, while; investors with their different categories are still anticipating the semi-annual financial data for the listed companies because of their significant impact on forming a more clear vision of the return on investment on one hand and monitoring opportunities and building positions on another hand.
In this context, Palestine Securities Exchange Company PSE- the operator of Palestine Stock Exchange PEX- was the second to disclose its semi-annual financial data after Wataniya Palestine Mobile Telecommunication Company. PSE noted posting net income of $0.42 million; up by 362% than the corresponding period of 2015. This increase followed an increase of 48.93% in the operation revenues which mainly resulted from a fiery increase of 69.47% in trading commissions. It is good to note that PSE records $1.12 book value and P/BV of 4.42x.
In the market, the stock of Bank of Palestine BOP- the largest bank by market capitalization- topped the PEX when its transactions constituted 66.58% from total trading value of the week. This came after executing institutional transaction in the trading session of the end of the week. The price movement of the stock was horizontal, to end the week at the level of $2.53; with no change. The stock of the Arab Palestinian Investment Company APIC followed when its transactions constituted 18.63% from PEX total trading value. This follows the noticeable activity on APIC’s stock since several weeks which was paralleled with a gradual price increase, APIC, accordingly, records the highest historical price every time, to close at the end of the week at $1.65; up by 9.27% in the week. The trades of Palestine Telecommunications PALTEL- the largest company by market capitalization- were medium, which reached 4.34% from PEX total market value, to decline thoroughly by 0.39% and close at the level of JD5.16. Moreover, Palestine Development and Investment Company PADICO- the largest investment company by market capitalization- traded on the same level pace, when its transactions recorded 2.78%, to stabilize at its previous closing level at $1.18.
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