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Institutional transactions on PALTEL raise the trading value

2015-07-15

Weekly Trading Report 12-15/07/2015

In parallel to the investors’ anticipation for the semi-annual financial data disclosure, the weakness in trading and price filling continued despite the widening in Al-Quds Index price range. Whereas, the PEX’s trading value increased this week in effect to the main driver for the changing in trading pace variety, since a while, after executing several institutional transactions on some leading stocks in the week; leading to a significant change in the daily average trading value compared to previous weeks. Regarding the price performance, Al-Quds Index recorded an increase of 0.78% this week, to close at the level of 482.48 points after slight and similar increases in the leading stocks’ prices.

Within the trading of this four trading sessions’ week, Palestine Telecommunications PALTEL’s stock- the largest company by market capitalization- topped the PEX in terms of trading value when reached $7.48 million following the high-volume transactions. PALTEL’s stock increased to close at the level of JD0.74; constituting a key factor for the balancing of Al-Quds Index above the 480 points after breaking through an important resistance level. Regarding the most active stocks, the stock of the Arab Palestinian Investment Company APIC came in the second place when recording trading value of $2.18 million due to executing two institutional transactions, to close at the level of $1.00; down by 0.99%. However, the leading stock of Palestine Development and investment Company PADICO – the largest investment company by market capitalization- witnessed heavy scarce and weak transactions that didn’t exceed $25 thousand, to increase by 0.85% and close at the level of $1.18.

On the other hand, the listed companies accelerate to hold their board of directors BOD’s meetings to discuss and approve the semi-annual financial data for disclosure, whereby, Palestine Stock Exchange PEX grants the listed companies a month and a half to disclose their data starting from  the 30th of June. In this context, the BOD of the National Bank TNB discussed their financial data till 30/06/2015 in its meeting on 09/07/2015 but hasn’t disclosed them yet. However, it is expected that several companies which held their meetings on 15/07/2015 to announce their meetings decisions, on the other hand, other companies decided to hold their BOD meetings after Al-Fiter Holiday that stars from Thursday 16/07/2015, and ends on Monday 20/07/2015. 

 


 

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JPH records net income of $2.76 million in 9M 2019

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MIC reports net income of $0.81 million in 9M 2019

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PALTEL posts net income of JD46.14 million in 9M 2019

 

 

 
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