Against a backdrop of political roadblocks rather than the anticipated roadmaps, trading at the Palestine Securities Exchange (PSE) had a calm week with major large caps increasing in price and total volume reaching one million Jordanian Dinars. Consequently, the Al-Quds Index climbed 4.03 percent to 187.20 points, reported Atlas Investment Group, a Jordan-based research firm.
The Palestine Telecommunication Co. (PALTEL) added 5.83 percent to reach JD3.27. The Palestine Development & Investment Co. (PADICO) followed suite, and added 5.49 percent to $0.96. The National Insurance Co. (NIC) lost 9.35 percent to JD1.94, while Gaza Ahliea Insurance Co. (GAIC) stepped up by 4.97 percent to close at $1.69.
Jerusalem Cigarette Co. (JCC) decreased by 4.79 percent to JD3.38 while Arab Hotels (AHC) closed flat at JD0.76. Arab Islamic Bank (AIB) stepped down 3.57 percent to $0.56 in thin trading while Palestine Investment & Development Co. (PID) declined four percent to JD0.48.
Meanwhile, The PLAZA Shopping Center has announced its grand opening for July 1. This much anticipated opening will introduce to the Palestinian market the first full-scale modern retail shopping facility. The two anchor stores in PLAZA are a full-size supermarket and a 620-square meter indoor children play area, both which are owned and operated by PLAZA.
According to the Palestinian Central Bureau of Statistics (PCBS), The Palestinian consumer price index rose by 0.42 percent over the month of April 2003 to reach 138.46, in comparison with 137.88 in March this year. The increase is mainly due to the rise in the prices of foodstuffs, beverages and tobacco. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
