Gil Feiler, Doron Peskin
Published: 06.04.09, 11:22 / Ynet
Atraso en el acuerdo por parte de la compañía de Kuwait Zain Telecom en conseguir participación mayoritaria en el operador Palestino Paltel, ha generado un efecto negativo sobre Índice Al-Quds.
La demora en la operación, está teniendo un efecto significativo en el comercio. Parece que algunas de las cuestiones reglamentarias relacionadas con el acuerdo aún no se han resuelto, y las conversaciones sin éxito entre ejecutivos de Zain y el Primer Ministro palestino Salam Fayyad han contribuido también a la caída del Índice durante la primera mitad de la semana pasada.
No obstante, el continuo ascenso del Índice palestino Al-Quds ha demostrado que los inversores han reconocido positivamente la nueva realidad política con la introducción del Primer Ministro de Israel, Benjamin Netanyahu. A su vez, esa tendencia positiva se explica justamente en que los inversores han estado confiando que el referido acuerdo en las telecomunicaciones de la Autoridad Palestina está más cerca que nunca.
En caso de que la operación no se concrete, el índice se espera que caiga a niveles inferiores a los registrados la semana pasada tras el anuncio de que las conversaciones para la reconciliación entre Fatah-Hamas en El Cairo han fracasado una vez más.
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Nablus stock market concerned over delayed telecom deal
Hold-up in deal that would see Kuwait's Zain Telecom take major stake in Palestinian operator PalTel has negative effect on Al-Quds Index
Gil Feiler, Doron Peskin
Published: 04.06.09, 11:22 / Ynet
The Palestinian Stock Exchange in Nablus ended Sunday's trading with a slight rise of 0.44%. The Al-Quds Index reached 534.29 points, marking a 2.34% increase from its previous trading day (Thursday).
While the increase is minor, it is still an improvement from last week's trend, in which the index dropped 2.7%. Should this positive trend continue, it will be considered a significant event in the Palestinian economy.
The continued climb of the Al-Quds Index will prove that Palestinian investors have acknowledged the new political reality and the induction of Israeli Prime Minister Benjamin Netanyahu's government. More importantly, such a positive trend would indicate that the investors believe a major communications deal in the Palestinian Authority is closer than ever. Should the deal fall through, the index is expected to tumble to levels lower than those recorded following last week's announcement that the Hamas- Fatah reconciliation talks in Cairo have failed, again.
As of now, the delay in the deal, which would see Kuwait's Mobile Telecommunications Co (Zain) to take a major stake in Palestinian operator Palestine Telecommunication Company (PalTel), is having a significant effect on trading. At this point it seems that some of the regulatory issues related to the deal have yet to be resolved, and last week's unsuccessful talks between Zain execs and Palestinian Prime Minister Salam Fayyad have also contributed to the drop in the Al-Quds Index during the first half of the week.
PalTel is one of the most important stocks in the Nablus stock market.
Last week's negative trend was not limited to the services sector. Apart from banking sector companies, which saw an overall rise of 1.95% in their value, the rest of the sectors, including the investment (-4.29%) and industrial (-2.5%) sectors, all decreased in value.
Sunday's trade volume at the Palestinian stock market was relatively low and totaled just over $1 million. Some 258,500 stocks were traded in 294 deals.
Dr. Gil Feiler is founder and managing director of Info-Prod Research (Middle East) Ltd , and Doron Peskin is head of research
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