Palestinian shares down in moderate trading

Published May 24th, 2001 - 02:00 GMT

JERUSALEM, (Reuters) - Palestinian shares fell on Tuesday, May 22, as trading picked up in the second session of the week, the Palestine Securities Exchange (PSE) said. 

 

The PSE's al-Quds index dropped 1.83 points or 1.08 percent to close at 166.84 points. 

 

Nearly 200,000 shares worth 235,715 Jordanian dinars were traded after an especially slow session on Monday when only 42,520 shares worth 58,588 dinars changed hands. 

 

Eight of the 25 firms listed on the Nablus-based bourse changed hands with five losers, two gainers and one unchanged. 

 

The Jerusalem Cigarette Co (JCC) registered the highest jump after being the sole gainer in Monday's session. The company rose 3.57 percent to close at 2.90 dinars. 

 

Palestine Telecommunication Co (PALTEL) was the biggest loser, shedding 1.89 percent to close at 2.60 dinars.  

 

Palestine Development and Investment Co (PADICO) ended the day down 1.01 percent after seeing the most activity with 108,000 shares worth 75,614 dinars trading hands. It closed at $0.98. 

 

Trading is conducted in U.S. dollars and Jordanian dinars in the absence of a Palestinian currency. 

 

The PSE has largely suffered price declines since a Palestinian uprising against Israel erupted in late September. Since the revolt broke out, trading has been cut to three sessions per week, from Monday through Wednesday. ($ = 0.709 dinars)  

 

 

© 2001 Mena Report (www.menareport.com)

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