The Palestine Securities Exchange (PSE) was the best performing stock exchange in the region followed by Egypt, United Arab Emirates, Kuwait and Jordan.
The Al-Quds Index surpassed the 1,000-point level, advancing 306.61% for the year compared to 54.40% and 18.95% in 2004 and 2003, respectively. Moreover, trading volume surged in 2005 to reach 369.56 million shares, surpassing that of 2004 by more than three-fold. Three companies were listed on the PSE during the year, which brought the number of listed companies to 28. In January 2005, the PSE welcomed the listing of a new pharmaceutical company, Berzeit Pharmaceutical Co. (BPC), with 10 million outstanding shares, while Golden Wheat Mills (GMC), which also has around 10 million outstanding shares, began trading in June 2005.
Meanwhile, Bank of Palestine (BOP) joined the banking sector in November 2005. According to the Capital Market Authority (CMA), which commenced operations this past September, up to 20 additional companies are expected to be listed on the PSE this year, increasing the total number of listed companies to 48. The CMA was established to restructure and regulate the Palestinian capital market to increase its efficiency and protect investors.
© Jordan Business 2006
