The Palestine Securities Exchange (PSE) calmed down this week as some investors decided to cash in on the profits made last week, which managed to push half the prices down with the rest maintaining their levels. Consequently, the Al-Quds Index declined 1.65 percent to 196.01 points, reported Atlas Investment Group, a Jordan-based research firm.
The heavy weight Palestine Telecommunication Company (PALTEL) dropped 1.15 percent to reach 3.44 Jordanian dinars ($4.8). Palestine Development & Investment (PADICO) declined 3.85 percent to one dollar.
The National Insurance Company (NIC) stabilized at JD 1.94, while Jerusalem Pharmaceutical (JPH) lost 3.3 percent to close at JD 4.4. Jerusalem Cigarette (JCC) descended 4.79 percent to JD 3.38 while Arab Hotels (AHC) and Arab Islamic Bank (AIB) remained at last week's level of JD 0.77 and $0.55, respectively. Arab Palestinian Shopping Centers (PLAZA) witnessed a drop of 1.01 percent to JD 0.98.
Palestine Real Estate Investment (PRICO) remained at the JD 0.95 level while Al-Quds Bank for Development & Investment (QUDS) was the heaviest decliner of the week, falling by 8.51 percent to reach JD 0.86.
Meanwhile, the Aqaba summit, and the Arab-American summit in Sharm el-Sheikh before it, constitute the most direct role the US government has taken in trying to end the violence between Palestinians and Israelis. In six hours, president Bush held a series of one-on-one talks as well as larger meetings in a guesthouse in Beit Al-Bahar palace grounds.
The summit culminated with seemingly determined statements by each of the participants to usher in a new era in the Middle East and break with a past of bloodshed and conflict. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
