The Palestine Stock Exchange’s Al Quds Index is reporting modest gains this year, in line with global trends, despite the upheavals in the Arab world, closing at 480.82 on February 15. It ended 2011 at 476.93, marking a loss of 2.6 per cent for the year, according to reports from the PSE.
Despite the losses last year, the PEX came second in the list of Arab exchanges, just behind Qatar — the only one to report a rise. It ended 2011 with a gain of 1.12 per cent.
The market capitalisation of the PEX rose 13.6 per cent on the back of seven new listings in 2011, reaching $2.78 billion compared to $2.45 billion in 2010. New entrants included Wataniya Palestine Mobile Telecommunications, Union Construction and Investment, Golden Wheat Mills and Alrafah Microfinance Bank.