NABLUS, March 4, 2010 (WAFA)- Palestine Securities Exchange ended the week’s (February 28-March 4) transactions with slight increase.
A clear quietness dominated the transactions within investors awaiting for the performance of Arab and global financial markets, where the investor tracks the performance of these markets carefully perhaps derives the initiative to rise, so it becomes an incentive to take his investment decision in our market.
In spite of the exceptional performance of listed companies in Palestine Securities Exchange in 2009, but liquidity is still locked in anticipation for developments in the Arab and global financial news; investor has already become a feared from surprises, and would prefer to wait until conviction completion of investments feasibility in the financial sector again.
Since the beginning of the current year, the Palestinian market sensed acceleration in indicators of confidence, and clear satisfaction among investors with the pricing levels of listed companies, to constitute leverages from which Al-Quds index to break resistance points the market is facing, to end the week increasing by %0.64 and closing at the level of 524.08 points within trading of 5.13 million shares that valued $22.02 million
Services sector’s index gained by %1.02, when PALTEL increased by %1.25 and ended its transactions at the level of JD5.65 within trading of 2.37 million shares that valued $18.76 million, where the institutional transaction that was executed on the share during the week lifted the share’s transactions value to constitute %85.20 from PSE gross trading value for the week. In the same sector, NSC earned remarkably by %23.61 ending the week at the level f JD0.89, its worth to mention that the company’s board of directors recommended distributing cash dividends of %5 in its meeting that had convened on 07 Feb 2010.
Banking sector’s index ended the week’s transactions with an increase of %0.35, where AMB gained remarkably by %8.22 when it closed at the level of $0.79 within medium transactions of $0.54 million, it is worth to mention that the bank had scheduled its board meeting on 11 March 2010 in order to discuss the raise if its capital. In the same sector, BOP advanced by %0.54 to close at the level of $3.69 through transactions of $0.30 million, while QUDS and ISBK experienced no change and closed at the levels of $1.15 and $0.86 respectively within medium transactions on both shares.
Investment sector’s index increased by %0.13, when PADICO declined by %0.76 and closed at the level of $1.30 after trading of 0.44 million shares that valued $0.58 million, while PIIC gained noticeably by %7.25 to close at the level of JD0.74, also UCI increased by %4.48 and ended the week’s transactions at the level of $0.70.
In another context, BPC’ board of directors recommended distributing cash dividends of %5 to the shareholders, while the company will hold its general assembly on 21 April 2010. Also, AZIZA’ board of directors recommended to its general assembly that will be held in the second half of April to distribute cash dividends of %6 and stocks dividends of %20 to the company’s shareholders.
