Palestine Weekly Trading Report - 15 to 19 March

Transcription

1. Weekly Trading Report [15-19/03] 2020 “Al Quds Index closes at the level of 498.90 points” Al-Quds Index at a level that has abandoned since mid-2016 Palestine Stock Exchange PEX is still, as the other regional and international stock markets, witnessing significant decline due to coronavirus spread effects. Whereby, the international markets entered a state of panic due to a new war with oil prices, which caused losses in the regional and international stock markets, and halted trading in some. However, the PEX is ranked among the lowest losers in comparison to other stock exchanges. In this context, Al-Quds Index dropped, in this week, below the 500 points level, to close at a level that has abandoned since mid- 2016, recording 498.90 points; down noticeably by 3.80% than the previous week. This followed a significant decline in the prices of the blue-chips with heaviest weights in the index and others. In waiting for new positives with the approaching end of Q1 2020 to start the anticipation for the quarterly financial data, the investors’ appetite may be open to grab investment positions’ opportunities. A category of speculators may prefer to sell when the dividends’ proposals are announced in order to reposition themselves after the distribution, while, other category may increase the purchasing orders with the increase in expectations regarding the dividends’ recommendations. This week, the number of companies that raised recommendations regarding the dividends’ distribution increased to 15 companies till this moment, with one has approved its dividends distribution proposal. Regarding the dividends distribution proposals of the listed companies for the year 2019, the board of directors of Al-Quds Bank QUDS proposed to the general assembly which will be holding a meeting on 05/04/2020 raising the paid-up capital from $90.17 million to $93.17 million through distributing 3.33% stocks dividends for the shareholders. It also proposed distributing 6% cash dividends for the year 2019, to record dividends yield of 4.00% based on the current market price. It is worth mentioning that three banks listed in the banking and financial services sector raised their recommendations till this moment to distribute both cash and stocks dividends for the shareholders. Whereby, the proposal of QUDS came after the proposals of both Bank of Palestine BOP to distribute 2.00% stocks dividends and 8.00% cash dividends for the year 2019, and the Arab Islamic Bank AIB to distribute 4.18% stocks dividends and 4.70% cash dividends for the year 2019. Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS and Palestine Monetary Authority PMA, The primary results of the International Investment Position IIP (external assets – foreign liabilities) for Palestine at the end of the fourth quarter 2019 revealed that the net IIP amounted to $2,098 million; down by 1% compared with previous quarter, which means that the Palestinian economy’s investments outside Palestine outweighs investments in Palestine from abroad. While the Gross External Debt on the Palestinian economic sectors reached $1,966 million; up by 7% compared with previous quarter. The debt on government sector represented 61%, while debt on banks sector reached 36%, and debt on other sectors (nonbanking financial corporations, nonfinancial corporations, NGOs and households sector) amounted to 2%, and the lending between affiliated companies reached less than 1%.
2. Weekly Report Market Indices & Top Gainers Index/ PEX Opening Closing Change Opening Closing Change 518.63 498.90 -3.80% NCI 0.94 0.97 3.19% 146.79 142.23 -3.11% JPH 2.51 2.52 0.40% Industry 96.68 95.61 -1.11% N/A N/A N/A N/A Insurance 101.20 100.96 -0.24% N/A N/A N/A N/A Investment 27.41 26.26 -4.20% N/A N/A N/A N/A Services 40.45 38.98 -3.63% N/A N/A N/A N/A Al Quds Banking & Financial Services Symbol Summary of the Week Performance Item Current Week Last Week Change Daily Average Ratio of this Week Daily average of Change Ratio 2019 # of Shares 1,433,650 1,728,499 -17.06% 286,730 580,600 -50.61% Value in USD 2,729,029 4,366,681 -37.50% 545,806 1,113,438 -50.98% Most Active Companies This Week # of Traded Total value Shares (USD) APIC 324,444 BOP PALTEL QUDS ISBK PADICO PEC OOREDOO BPC AIB 408,647 50,028 176,573 121,939 142,313 50,461 44,671 5,773 13,774 Company Name 52 Weeks Price Open Price Close Price % Change 830,420 2.65 2.56 791,298 287,244 251,022 198,786 137,633 72,081 38,001 30,110 21,967 2.00 4.26 1.50 1.75 1.04 1.48 0.87 5.25 1.65 1.92 4.10 1.50 1.61 0.94 1.40 0.84 5.20 1.57 A registered member at PEX, regulated by PCMA Tel 02-2965710 / Fax: 02-2965713 / P.O. Box: Ramallah (2187) E-mail: Research@Sahem-inv.com High Low -3.40% 2.68 2.26 -4.00% -3.76% 0.00% -8.00% -9.62% -5.41% -3.45% -0.95% -4.85% 2.50 4.46 1.97 2.03 1.40 1.68 1.05 5.40 1.82 1.94 3.95 1.40 1.55 0.94 1.28 0.8 4.72 1.55