NABLUS, December 3, 2009 (WAFA)-Dubai and Abu Dhabi Financial Markets led the sever decline movement this week, among the continuity of investors' fears towards the debt crisis of Dubai World Group, after the company's announcement of requesting to postpone the payment of its due debts for six months within processing a new structure for Dubai World Group, in which the global markets had reacted negatively amid the intensive media coverage as if the economic representation of Dubai had completely failed.
While economic specialists assured that the due debts of Dubai group contrast to huge assets and investments that are spread in many countries in the world, and Dubai is capable and qualified to manage the crisis successfully, indicating that there is an overstating from the global media that came within the global financial crisis.
Despite the weak correlation between Palestine Securities Exchange and the surrounding and global markets, but Al-Quds index lost by %1.81 this week to close at the level of 493.03 points within trading of 1.32 million shares that valued $2.50 in its three trading sessions. In general 25 companies' shares were traded, where 2 witnessed an increase, 18 witnessed a decrease and the rest 5 companies' shares stabled.
Services sector's index declined by %1.75 when PALTEL lost by %1.89 and closed at the level of JD5.20, after trading of 86 thousand shares that valued $0.63 million. It is worth to mention that PALTEL's board of directors will hold a meeting on Saturday 05/12/2009 in order to discuss the budget of year 2010 and other regulatory issues.
GCOM descended by %2.73 ending its transactions at the level of $1.07. In the same sector, WASSEL dropped by %4.76 when it closed at the level of JD0.60, while PEC stabled at the level of $0.99.
Investment sector's index fell by %3.72, affected by the decline of PADICO which in its turn lost by %3.94 and closed at the level of $1.22 within trading of 0.70 million shares that valued $0.85 million to constitute approximately %34 from market aggregate trading value. In the same sector, PIIC and PRICO declined by %5.56 and %5.06 to close at the levels of JD0.68 and JD0.75 respectively, while UCI stabled at the level of $0.59.
Banking sector's index retreated slightly by %0.14 while BOP raised by %0.54 to end the week's transactions at the level of $3.69 within trading of 0.17 million shares that valued $0.63 million. AIB declined by %1.63 to close at the level of $1.21, also QUDS lost by %0.83 and closed at the level of $1.20, while ISBK stabled at the level of $0.70.
