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New anticipations appear with the start of June

2017-06-01

Sahem Weekly Trading Report (28-05)-(01-06)-2017

Al-Quds Index ended this week in the green zone, to close at the level of 530.17 points; up by 0.19% than its previous closing level. Whereby, the scarce liquidity and trading rigidity in Palestine Stock Exchange PEX are most obvious during this period. However, with the end of May and start of June in the year 2017, new anticipations appear towards the mid-year financial data disclosures for the listed companies in the PEX. While the cash dividends distribution effects especially on the leading stocks significantly results in a decrease in Al-Quds Index during the last two months, especially with the semi-absence of any updates on the general and political arena.

 

Regarding this week’s trading, Palestine Development and Investment Company PADICO - the largest Investment company by market capitalization - topped the PEX in terms of trading value when recorded $1.98 million. The stock increased by 2.36% compared to the previous week, to close at the level of $1.30. However, regarding the largest company in the PEX in terms of market capitalization – Palestine Telecommunication PALTEL - its transactions recorded $0.79 million, to stabilize at the level of JD4.70, without any change than its previous weekly closing level and after trading in a relatively narrow range. On the other hand, trading was active on the shares of the largest bank by market capitalization – Bank of Palestine BOP –, after executing a cross transaction, to record trading value of $1.95 million in this week. However, BOP stabilized at the level of $2.45, without any change than its previous weekly closing level. 

 

Regarding this week’s significant news, Nakheel Palestine for Agricultural Investment “Nakheel Palestine”- a subsidiary of Palestine Development and Investment Company PADICO- signed an agreement with the French institution “PROPARCO”. Based on this agreement, PROPARCO granted a $10 million loan to Nakheel Palestine in order to finance its expansion projects and plans in the coming period. Whereby, Nakheel Palestine is seeking to increase its investments in the cultivation of "Medjoul dates”, as the company's production is expected to increase by about 40% in the coming period. It is worth mentioning that Nakheel Palestine specializes in the cultivation, packaging and promoting of the Palestinian dates “Medjoul and Barhi”. Its agricultural farms are located in the categorized C area nearby Jericho and are considered the largest labor operator of the Palestinian working hand, and a major substitute to working in the Israeli settlements. This agreement is considered the first from its type in Palestine, and as it is expected from the company’s board of directors BOD, it will allow the company to increase its production and expand worldwide, in addition to entering new markets.

 

In another context, The Arab Hotel Company AHC announced signing a franchising memorandum of understanding with “Millennium Hotels and Resorts”, a leader in the global hospitality industry. This is considered the first step to start a franchise partnership between “Yabous Company”, a subsidiary of Palestine Investment Fund PIF- the major investor of AHC- and Millennium Hotels and Resorts. This hotel, the former known as “Movenpick Hotel”, is supposed to open its doors under the new management -Millennium Hotels and Resorts- in mid-June 2017. On another hand, Jerusalem Cigarette Company JCC announced the start to produce reduced-excise cigarettes in partnership with Palestine Investment and Development Company PID to be marketed in the Palestinian markets. This is supposed to contribute in increasing the company’s profits in the coming period.

 


 

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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