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2019-11-14
Sahem Weekly Trading Report (10-14)-11-2019
Al-Quds Index witnessed an increase of 0.12% than its previous weekly closing level, to close at 524.72 points. This followed medium-volume transactions that were raised through executing several transactions on the leading stock of the Arab Palestinian Investment Company APIC of 1.25 shares. However, this came despite the prevailing political situation in Gaza Strip, to ensure over and over again Palestine Stock Exchange PEX’s unique entity of being able to isolate itself from any political instability situation. On another hand, with the disclosures’ completion of 45 companies out of 48 listed companies required to disclose their data by the end of the first nine months of 2019, the PEX records an average PE ratio of 12.8 and an average P/BV of 1.19x.
Regarding the data of the PEX’s sectors, the banking and financial services’ sector contributed in 31.62% from total disclosed companies’ profits attributable to the parent companies. Whereby, all companies in the sector recorded profits by the end of 9M 2019. According to the disclosed data, the average PE of the sector records 12.1x, and average P/BV reached 1.20x. This came despite the decrease in the sector’s profits attributable to the parent companies by 4.40%. While, Bank of Palestine BOP constitutes the lion’s share of 49.33% from the total achieved profits attributable to parent companies in the sector. In the same context, 6 insurance companies out of 7 companies disclosed their 9M financial results, whereby, the insurance sector contributed in 4.29% from total disclosed companies’ profits attributable to the parent companies. Where 33% of the disclosed companies in the sector recorded an increase in their profits attributable to the parent companies. While the sector’s profit attributable to the parent companies declined by 15.87% in 9M 2019. According to the disclosed data, the insurance sector records an average PE of 16.0x; the largest value among all sectors, and records an average P/BV of 1.39x; the largest among all sectors as well.
In the service sector, 9 out of 11 listed companies among the sector disclosed their 9M 2019 financial results; where the services sector contributed by the highest percentage of 33.92% from the total disclosed companies among all sectors in the PEX. Where 78% of the disclosed companies in the sector achieved profits attributable to the parent companies in 9M 2019, whereas, 22% of the disclosed companies in the sector realized net losses compared to the corresponding period of 2018, while; two companies didn’t disclose their financial results for 9M 2019 within the granted period by the PEX. Whereby, Palestine Telecommunications Company PALTEL’s profits contributed in 88.21% from the total sector’s profits attributable to the parent companies, in which declined in total by 10.67% compared to the corresponding period of last year. According to the disclosed data, the sector records average PE of 12.3x, and average P/BV of 1.33x.
On the other hand, the investment sector’s profits attributable to the parent companies contributed in 18.08% from the total disclosed companies’ profits attributable to the parent companies, while, the investment sector’s profits attributable to the parent companies increased by 19.43% in 9M 2019, to record an average PE of 15.4x, and average P/BV of 1.01x; the lowest value among all sectors. Regarding the Industry sector, it witnessed a slight increase in the sector’s profits attributable to the parent companies by 0.70% in 9M 2019; constituting 12.09% from total sector’s profits attributable to the parent companies, whereby, Birzeit Pharmaceuticals BPC and the Vegetable Oil Industries Company VOIC achieved the highest profits, in which both contributed for 56.83% from total sector’s profits attributable to the parent companies. Accordingly, the Industry sector records an average PE of 11.1x; the lowest among all sectors, and average P/BV of 1.13x.
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