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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.


 

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The PEX records average PE of 12.8x and average P/BV of 1.19x in 9M 2019

2019-11-11
The listed companies in the PEX achieves total net income of $232 million in 9M 2019

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Cross transactions in the last trading session of the week raise the trading value significantly

2019-11-06
JCC realizes net loss of JD0.36 million in 9M 2019

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QUDS posts net income of $8.24 million in 9M 2019

2019-11-06
AHC realizes net loss of JD0.94 million in 9M 2019

2019-11-06
PID realizes net loss of JD0.65 million in 9M 2019

2019-11-06
NIC posts net income of $4.83 million in 9M 2019

2019-11-06
JREI realizes net loss of $0.19 million in 9M 2019

2019-11-06
PALAQAR posts net income of JD0.15 million in 9M 2019

2019-11-06
NSC records net income of JD0.28 million in 9M 2019

2019-11-06
AIB posts net income of $6.52 million in 9M 2019

2019-11-06
RSR posts net income of JD0.17 million in 9M 2019

2019-11-06
ABRAJ posts net income of $0.38 million in 9M 2019

2019-11-06
TIC posts net income of $1.03 million in 9M 2019

2019-11-06
GUI records net income of $0.88 million in 9M 2019

2019-11-06
BOP posts net income of $33.92 million in 9M 2019

2019-11-06
PICO posts net income of $0.11 million in 9M 2019

2019-11-06
UCI posts net income of $0.69 million in 9M 2019

2019-11-06
PADICO posts net income of $23.76 million in 9M 2019

2019-11-06
JPH records net income of $2.76 million in 9M 2019

2019-11-06
OOREDOO realizes net loss of $0.71 million in 9M 2019

2019-11-06
PRICO realizes net loss of JD0.12 million in 9M 2019

2019-11-06
MIC reports net income of $0.81 million in 9M 2019

2019-11-06
PALTEL posts net income of JD46.14 million in 9M 2019

 

 

 
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