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Companies increased profits and others turned losses into profits, and Al-Quds index continues to decline!!

2008-11-02

The legal period for the listed companies to disclose their third quarter results had finished, these results were unprecedented since 2005, and nevertheless Al-Quds index continued declining raising its losses during October to 106 points (% 16.44), which indicates the continuing prevalence of the fear from the instability in the regional and global financial markets over the internal elements in the PSE. Among 33 companies that had disclosed their financial results in the legal period, 28 companies increased their profits in the third quarter of the current year comparing with the same period of the last year, 5 companies turned their losses into profits, while 5 companies declared losses in this quarter comparing to 9 companies in the third quarter of the last year. Nevertheless, Al-Quds index closed loosing at the end of the week by 7.9 points (%1.44) closing at the level of 538.85 points, due to descending four sectors" indices by percentages that varied between %0.49 for industry sector and %5.97 for banking sector, while services sector was the only gainer when it had earned by %1.18. The market had vouched a remarkable improvement among the activity side, when the average daily trading volume raised by %59.35 to reach 1.1 million shares comparing to 700 thousands in the previous week, while average daily trading value had increased by %88.72 to reach $4 million comparing to $2.1 million last week.