Palestine Weekly Trading Report - 16 to 20 February

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1. Weekly Trading Report [16-20/02] 2020 “Al Quds Index closes at the level of 537.37 points” Al-Quds Index trades in a wide range amid distinguished financial disclosures In this week, significant news momentum about the Palestinian listed companies was witnessed coinciding with the end of the legal period granted by Palestine Stock Exchange PEX to the listed companies to disclose their preliminary financial data for the year 2019. While Al-Quds Index increased by 1.10% after trading in a relatively wide range compared to the previous week, to close at the level of 537.37 points. On the other hand, the PEX witnessed executing transactions on the leading stocks and others during the week, whereby, a transaction was executed on the stocks of Palestine Development and Investment PADICO of 0.13 million shares, and a transaction on the stocks of the Arab Company for Paints Products of 0.35 million shares. Whereby, the anticipations dominated the trading nature in the few previous weeks in waiting for disclosing the companies’ financial data and their dividends distributions’ trend accordingly, the variation in the investors’ behaviors is what drags the attention for the coming period. Building investment positions for some stocks is what may distinguish the coming weeks, while undoubtedly price speculations will constitute an essential part too within the stocks’ routine price cycles, in parallel to the dividends’ distribution season. On another hand and regarding the disclosures, the listed companies’ results were unique, to ensure once again their ability to operate and manage their assets despite the surrounding conditions. This week, the dividends’ distribution recommendations continued, to fulfil the constant dividends distribution policy or implement that strategy given initiating enriching the shareholders’ equity. In this context, the board of directors of Jerusalem Pharmaceutical Company JPH proposed to the general assembly distributing 10% cash dividends for the year 2019, to record dividends yield of 3.85% based on the current market price. The disclosed figures by the blue-chips were one of the most significant and noticed issues from all the Palestinian securities’ parties this week. Whereby, Palestine Development and Investment Company PADICO- the largest investment company in the PEX in terms of market capitalization- posted an increase of 50.57% in the net income attributable to the shareholders of the parent company, to reach $22.61 million in 2019. This coincide with an increase in the company’s revenues by 37.90%. Based on the disclosed figures, PADICO records book value BV of $1.59, and P/BV of 0.69x. However, in the banking and financial services sector, the largest bank in the PEX by market capitalization- Bank of Palestine BOP-noted posting a decline of 32.97% in its net income attributable to the shareholders of the parent company, to hit $33.96 million. This came despite an increase in net interests, financing, investing and commissions and due to an increase in the low direct credit facilities and financing provisions from $3.86 million in 2018 to $32.19 million in 2019. Based on the disclosed figures, BOP records BV of $1.85 and P/BV of 1.10x. In the same context, the National Bank TNB disclosed achieving net income attributable to the shareholders of the parent company of $7.95 million at the end of 2019, compared to net income of $9.43 million at the end of 2018. This came despite an increase in the net interests and commissions and due to an increase in the bank’s expenses. Based on the disclosed figures, TNB records BV of $1.24 and P/BV of 1.67x. In the same context, Al-Quds Bank QUDS noted posting net income of $11.22 million in 2019; down by 3.21% than 2018. This followed an increase in the bank’s provisions. Based on the disclosed figures, QUDS records BV of $1.30 and P/BV of 1.15x. In the services sector, Palestine Electric Company PEC disclosed recording an increase of 41.69% in its net income, to hit $12.45 million. This followed a decline in the company’s operating expenses and credit losses. Based on the disclosed data, PEC records BV of $1.62 and P/BV of 1.01x.
2. Weekly Report Market Indices & Top Gainers Index/ PEX Opening Closing Change Opening Closing Change 531.54 537.37 1.10% PEC 1.56 1.64 5.13% 148.17 149.96 1.21% AIB 1.62 1.69 4.32% Industry 97.83 96.96 -0.89% OOREDOO 0.93 0.96 3.23% Insurance 98.40 98.16 -0.24% APIC 2.60 2.68 3.08% Investment 27.71 28.22 1.84% PADICO 1.07 1.10 2.80% Services 42.07 42.47 0.95% ISBK 1.90 1.93 1.58% 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 1,390,802 439,554 216.41% 278,160 580,600 -52.09% Value in USD 4,818,468 875,895 450.12% 963,694 1,113,438 -13.45% Most Active Companies This Week # of Traded Total value Shares (USD) APC 352,700 PADICO PEC APIC QUDS PALTEL BOP ISBK TNB PIBC 254,807 164,562 103,329 166,194 32,658 87,917 88,987 18,267 32,613 Company Name 52 Weeks Price Open Price Close Price % Change 2,984,767 6.30 6.00 277,882 273,574 271,207 247,670 202,108 175,849 170,791 37,813 36,178 1.07 1.56 2.60 1.50 4.40 2.00 1.90 2.07 1.16 1.10 1.64 2.68 1.50 4.39 2.03 1.93 2.07 1.15 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 -4.76% 6.30 6.00 2.80% 5.13% 3.08% 0.00% -0.23% 1.50% 1.58% 0.00% -0.86% 1.40 1.68 2.68 1.97 4.48 2.50 2.03 2.15 1.30 1.07 1.28 2.26 1.40 3.95 1.95 1.80 1.54 1.00