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Al-Quds Index increases amid relatively medium-volume transactions

2018-07-05

Sahem Weekly Trading Report (01-05)-07-2018

Al-Quds Index reported gains this week of 1.02%,to close at the level of 546.18 points following an improvement in the price performance of the leading stocks with the highest weights in the Index, amid medium-volume and relatively far from high-volume transactions. This came at the beginning of the second half of the current year and after the listed companies had approved dividends distribution for the year 2017, along with the receding in the prices decline wave following the dividends entitlement and the start of the spontaneous price correction movement in parallel to creating the general image of the expected yields for the year. Whereby, theoretically, the stocks currently trade without the previous year’s profits, while, implicitly with the start of companies to disclose their financial results for the year 2018, the investor starts approximately to expect his yield from the distribution till the end of the year. In accordance, this expectancy positively reflects the stocks’ prices after the accumulation of disclosed profits in their value and leads to the start of new price cycle in the market that is related to some market indicators and expectations variation for each stock alone.

Regarding the significant news of the listed companies this week, Al-Quds Bank QUDS announced signing a strategic partnership agreement with Jordan Kuwait Bank, whereby; Jordan Kuwait Bank will merge with QUDS and consolidate its assets and liabilities to QUDS’. It is good to note that all necessary legal procedures will be proceeded to complete this agreement, whereby, implementation the merger will take place within a maximum of 90 days period. However, it is worth mentioning that QUDS is the second Palestinian bank listed in the banking and financial services sector in terms of market capitalization. Where the bank achieved net profits of $2.26 million in the first quarter of 2018 and approved distributing 10% cash dividends and 10% stocks dividends for the year 2017.

Regarding this week’s trading, the stock of Trust International Insurance Company TRUST topped the PEX by 30.23% this week, to stabilize at the level of $3.49 without any change than its previous weekly closing level. However, In the banking and financial services sector, the stock of Palestine Investment Bank PIBC witnessed active trading this week where its transactions constituted 21.93% from total weekly trading value of the PEX, to close at the level of $1.37; up by 5.38% than its previous weekly closing level. Moreover, within the top three leading stocks, the stock of Palestine Development and Investment Company PADICO closed at the level of $1.35; up by 2.27% than its previous weekly closing level and after transactions that constituted 4.12% from total trading value of the PEX.  Also, the stock of Palestine Telecommunications PALTEL increased by 1.38% than its previous weekly closing level, to close at the level of JD4.42 following transactions that constituted 24.74% from total trading value of the PEX. On the other hand, the stock of Bank of Palestine BOP stabilized at the level $2.50 without any change than its previous weekly closing level and after transactions that constituted 2.27% from total trading value of the PEX.


 

2019-02-21
The PEX records average PE of 13.1x and average P/BV of 1.21x

2019-02-18
WASSEL posts net income of $0.04 million at the end of 2018

2019-02-18
AHC realizes net loss of JD1.14 million at the end of 2018

2019-02-18
QUDS records net income of $11.59 million at the end of 2018

2019-02-18
PADICO records net income of $15.57 million at the end of 2018

2019-02-18
PRICO realizes net loss of JD3.96 million at the end of 2018

2019-02-18
JPH posts net income of $6.09 million at the end of 2018

2019-02-17
NIC posts net income of $3.77 million at the end of 2018

2019-02-17
JCC records net income of JD0.01 million at the end of 2018

2019-02-17
BPC posts net income of $7.97 million at the end of 2018

2019-02-17
PSE posts net income of $0.41 million at the end of 2018

2019-02-17
GUI records net income of $3.73 million at the end of 2018

2019-02-17
NCI realizes net loss of $0.08 million at the end of 2018

2019-02-17
PID reports net income of JD0.63 million at the end of 2018

2019-02-17
LADAEN realizes net loss of JD0.08 million at the end of 2018

2019-02-17
PIIC posts net income of JD3.55 million at the end of 2018

2019-02-17
TNB posts net income of $19.25 million at the end of 2018

2019-02-17
ABRAJ records net income of $1.17 million at the end of 2018

2019-02-17
AIB posts net income of $7.10 million at the end of 2018

2019-02-17
PALAQAR records net income of JD0.16 million at the end of 2018

2019-02-17
ISBK records net income of $15.13 million at the end of 2018

2019-02-17
PIBC posts net income of $4.34 million at the end of 2018

2019-02-17
PICO realizes net loss of $1.29 million at the end of 2018

2019-02-17
AZIZA posts net income of JD0.84 million at the end of 2018

2019-02-17
MIC records net income of $2.38 million at the end of 2018

2019-02-17
BOP records net income of $54.11 million at the end of 2018

2019-02-14
NSC posts net income of JD0.18 million at the end of 2018

2019-02-14
TIC posts net income of $2.77 million at the end of 2018

2019-02-14
Al-Quds Index in the green zone amid a momentum in the significant news

2019-02-14
PEC reports net income of $8.79 million at the end of 2018

2019-02-14
RSR posts net income of JD0.35 million at the end of 2018

2019-02-14
JREI realizes net loss of $0.03 million at the end of 2018

2019-02-14
GMC posts net income of JD0.07 million at the end of 2018

2019-02-14
AIG posts net income of $1.91 million at the end of 2018

2019-02-14
NIC proposes distributing 20% cash dividends for the year 2018

2019-02-13
PALTEL posts net income of JD67.09 million at the end of 2018

2019-02-13
TRUST posts net income of $5.88 million at the end of 2018

2019-02-13
BJP records net income of JD0.77 at the end of the 2018

2019-02-13
GUI proposes distributing 10% stocks dividends and 10% cash dividends for the year 2018

2019-02-13
VOIC achieves JD6.54 million net income at the end of 2018

2019-02-12
ARAB posts net income of JD0.56 million at the end of 2018

2019-02-12
ELECTRODE posts net income of JD0.09 million at the end of 2018

2019-02-12
PALTEL recommends distributing 40% cash dividends for the year 2018

2019-02-12
APIC reports net income of $16.04 million at the end of 2018

2019-02-11
NAPCO posts net income of JD0.57 million at the end of Y2018

2019-02-11
UCI records net income of $1.93 million at the end of Y2018

2019-02-10
APC proposes distributing 30% cash dividends for the year 2018

2019-02-10
GUI proposes distributing 10% cash dividends for the year 2018

2019-02-10
PADICO Holding sells part of its stake in Jericho Gate Real Estate Investment Company

2019-02-07
Al-Quds Index increases amid the start of the listed companies’ disclosures for the Y2018

2019-02-07
OOREDOO reports net income of $0.10 million at the end of Y2018

2019-02-06
APC records net income of JD0.50 million at the end of Y2018

 

 

 
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