Trading at the Palestine Securities Exchange (PSE) was calm this week with most of the activity concentrating two stocks. The Al-Quds Index rose four percent to 178.69, as most of the large caps that traded this week advanced.
The Palestine Telecommunication Company (PALTEL) ranked first in terms of trading volume as it climbed five percent to 3.15 Jordanian dinars ($4.4). The Palestine Development & Investment Company (PADICO) had a good week as it advanced by 4.71 percent to $0.89. National Insurance (NIC) witnessed small movements, with its price rising to JD 2.12, while Jerusalem Cigarette (JCC) mounted 4.88 percent to JD 3.01.
Meanwhile, the United States and the United Nations are pressing Israel to “get the peace process going again”. Officials say that the goal of the US pressure is to support the role of new Palestinian Premier Mahmoud Abbas when he takes office the coming week. The UN has also urged Israel to relax economic and security restrictions on Palestinians and emphasized the important role Israel has in ensuring the success of the new government. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
