Palestine: Weekly Trading Report - 1 to 5 April

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1. Weekly Trading Report [01-05/04] 2018 “Al Quds Index closes at the level of 558.78 points” Scarce liquidity in the dividends distribution and the quarterly disclosures seasons Unlike last week, which witnessed executing major acquisition transaction on the shares of Palestine Islamic Bank ISBK and therefore lifting the trading value significantly, this week is characterized with scarcity, where the observer monitors the quiet pace in general and lack of speculations despite attempts to catch investment opportunities and enlarge the yield during the dividends distribution period. In the same context, Al-Quds Index remained in the red zone with a decline by 1.20% than its previous weekly closing level, to close at the level of 558.78 points. This was due to the dividends’ entitlement of the two largest companies in terms of market capitalization in Palestine Stock Exchange PEX. As the period of holding the general assembly meetings of the listed companies is still at its most, the PEX has entered the legal period of disclosing the first quarter of 2018 financial data with the start of April. This leads to an overlapping in the anticipation factors among investors and prevailing prices solidity in this period given the fact of conservatism domination more than changing the investment positions. In terms of dividends entitlement, the general assembly of AL-Takaful Palestinian Insurance Company TIC approved, in its meeting on 03/04/2018, distributing 10% cash dividends to its shareholders for the year 2017, to record 5.00% dividends yield based on the price on the entitlement date and 45.66% payout ratio based on the EPS of 2017. Based on this approval, the number of companies that approved distributing dividends reached seven since the beginning of the distribution season, including the two largest companies in terms of market capitalization – Palestine Telecommunication PALTEL and Bank of Palestine BOP -. Whereby, the stock of the largest company in terms of market capitalization and the heaviest weighed stock in Al-Quds index – Palestine Telecommunication PALTEL – traded lower than its equivalent price by 1.16%, while, the stock of the largest bank in terms of market capitalization – Bank of Palestine BOP – traded higher than its equivalent price by 1.58%. Regarding the significant news of this week, the leading company - the Arab Palestinian Investment Company APIC announced acquiring a stake of 6.2% from the paid-up capital of the Jordanian company “MadfooatCom” in a transaction worth $2.3 million as part of its strategic plan to diversify its investments and boost its revenues. It is good to note that “MadfooatCom” is an acclaimed leader in financial services technology based in Amman, Jordan. Established in 2011 and provides solutions for consumers in the MENA region and beyond to view and pay their bills with ease, comfort and speed. It has a platform, “eFAWATEERcom”; established in partnership with the Central Bank of Jordan, and has processed over 6 million invoices valued at $4.3 billion and growing rapidly.
2. Weekly Report Market Indices & Top Gainers Index/ PEX Opening Closing Change 565.57 558.78 -1.20% 165.73 164.34 Industry 101.83 Insurance Investment Services Al Quds Symbol Opening Closing Change NCI 0.84 0.92 9.52% -0.84% GUI 2.22 2.32 4.50% 102.22 0.38% AIG 0.27 0.28 3.70% 77.08 75.24 -2.39% AIB 1.60 1.65 3.12% 30.16 29.94 -0.73% WATANIYA 1.00 1.03 3.00% 42.21 41.47 -1.75% TNB 1.82 1.86 2.20% Banking & Financial Services Summary of the Week Performance Item Current Week Last Week Change Daily Average Ratio of this Week Daily average of Change Ratio 2017 # of Shares 2,534,554 37,347,201 -93.21% 506,911 1,115,900 -54.57% Value in USD 6,117,750 84,074,970 -92.72% 1,223,550 1,930,330 -36.61% Most Active Companies This Week # of Traded Total value Shares (USD) PALTEL 357,061 BOP QUDS Company Name 52 Weeks Price Open Price Close Price % Change 2,148,299 4.40 4.25 466,170 1,188,584 2.67 480,490 1,109,308 2.34 PADICO 414,255 579,690 WATANIYA 320,463 324,471 PIBC 149,648 GMC High Low -3.41% 4.85 4.25 2.57 -3.75% 2.73 2.40 2.33 -0.43% 2.40 1.32 1.42 1.40 -1.41% 1.64 1.06 1.00 1.03 3.00% 1.37 0.85 202,833 1.34 1.35 0.75% 1.43 0.95 100,027 121,581 0.85 0.86 1.18% 0.97 0.50 APIC 49,833 112,011 2.22 2.25 1.35% 2.30 1.62 PEC 32,207 41,577 1.29 1.27 -1.55% 1.44 1.05 PHARMACARE 10,700 40,181 3.83 3.75 -2.09% 3.83 3.59 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