Palestine Weekly Trading Report - 22 to 26 October

Transcription

1. Weekly Trading Report [22-26/10] 2017 “Al Quds Index closes at the level of 575.07 points” Increase in the financial disclosures’ anticipation and Wataniya mobile is officially in Gaza. With the approaching end of the legal period granted to the listed companies to disclose their 9M 2017 financial data, Al-Quds Index was unable to progress further this week to breakthrough a new psychological barrier which led to lose a few points by -0.47% compared to its previous weekly closing level, to close at the level 575.07 points. In terms of liquidity, the trading movements relatively slowed parallel with the disclosure anticipation especially for the leading companies. However, the legal period ends with the end of October 2017, while the disclosures haven’t exceeded 50% out of 48 companies with the end of business week, whereby, the next week is expected to witness disclosures’ momentum that include some of the blue-chips and high turnover companies. In all cases, the expected 9M financial data will build more on what has been established by many of the Palestine Stock Exchange PEX’s constituents’ components. Regarding the Blue-chips disclosure, the Arab Palestinian Investment Company APIC announced posting net income attributable to the shareholders of the parent company of $8.45 million in the first nine months of 2017; up by 28.95% than the corresponding period a year ago. This mainly followed the increase in sales profit. Based on the disclosed data, the company records a BV of $1.75 and P/BV of 1.12x. On the other hand, the Vegetable Oil Industries Company VOIC disclosed posting net income of JD5.50 million in 9M 2017, compared to net income of JD4.58 million in the same period a year ago. This mainly came from an increase in gross profits. According to the disclosed figures, the stock records BV of JD6.91 and P/BV of 1.66x. Regarding the companies’ significant news, Wataniya Palestine Mobile Telecommunications WATANIYA has started its operations in Gaza Strip during the week after completing to enter all of its basic technical equipment in the first months of this year and building its network, while, the preparation to launch the 3G frequencies in the West Bank is still in process. However, entering Gaza Strip has many positive effects, including; breaking the siege imposed on Gaza and starting to invest in it, in addition to offering jobs to the people of Gaza who suffer from severe unemployment. On the other hand, WATANIYA disclosed its 9M financial data for 2017, noting realizing net loss of $1.80 million in the first nine months of 2017, compared to net income of $1.12 million in 9M 2016. This came despite an increase in gross profits and due to a growth in its expenses. According to the disclosure, the stock records BV of $0.26 and P/BV of 4.46x.
2. Weekly Report Market Indices & Top Gainers Index/ PEX Opening Closing Change 577.78 575.07 -0.47% 157.5 156.75 Industry 92.92 Insurance Investment Services Al Quds Symbol Opening Closing Change AIG 0.28 0.29 3.57% -0.48% JREI 0.37 0.38 2.70% 92.66 -0.28% PADICO 1.55 1.59 2.58% 71.3 71.47 0.24% PIIC 2.26 2.30 1.77% 30.02 30.35 1.10% PID 1.25 1.27 1.60% 45.95 45.26 -1.50% APIC 1.93 1.96 1.55% 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 2016 # of Shares 3,041,101 4,953,694 -38.61% 608,220 950,275 -36.00% Value in USD 4,910,466 7,114,726 -30.98% 982,093 1,816,948 -45.95% Most Active Companies This Week # of Traded Total value Shares (USD) 1,140,916 WATANIYA TNB Company Name 52 Weeks Price Open Price Close Price % Change 1,785,996 1.55 1.59 698,775 886,193 1.25 210,120 378,216 1.83 APIC 190,674 367,104 NIC 92,214 PALTEL High Low 2.58% 1.64 1.01 1.16 -7.20% 1.37 0.82 1.80 -1.64% 1.98 1.55 1.93 1.96 1.55% 1.98 1.62 298,713 3.20 3.20 0.00% 3.34 2.90 36,784 239,789 4.62 4.64 0.43% 5.19 4.56 BOP 73,188 182,853 2.51 2.49 -0.80% 2.85 2.40 GMC 131,787 129,684 0.69 0.69 0.00% 0.75 0.50 QUDS 48,300 94,054 1.96 1.96 0.00% 1.99 1.17 UCI 135,962 89,374 0.65 0.66 1.54% 0.76 0.36 PADICO 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