Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- Wataniya Telecom tanks 100 fils NBK stagnates  Join our daily free Newsletter

MENAFN - Arab Times - 22/06/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Arab Times) Kuwait stocks pulled lower on Thursday to end week on a tepid note. The index, after trading in green earlier in the day, slipped 15.12 points to 8,059.86 pts as investors toed the sidelines. Some of the mid and low caps however witnessed brisk trading whereas the banks closed mostly flat.

The KSX 15 benchmark slid 7.23 pts to 1,060.97 points and has shed 51 pts from start of the month whereas the weighted index fell 1.76 points. The volume turnover meanwhile receded further. 317 million shares changed hands, down 28.94 percent from Wednesday. Earlier in the week, the state funds had injected liquidity to prop up the bourse ahead of the court verdict.

The sectors closed mixed. Oil and gas outshone the rest with 2.25 percent gain whereas consumer goods shed 1.93 pct, the biggest loser of the day. In terms of volume, real estate dominated with 42.19 pct market share while financial services and industrials followed with 31.86 and 14.65 percent respectively. Combined Group Contracting Co slid 40 fils to KD 1.260 while Yiaco Medical Co was down 25 fils. Mabanee Co dived 40 fils to KD 1.080 and National Industries Group eased 5 fils after closing flat on Wednesday.

The stock has retreated 35 fils from start of the month while year-to-date, it has rallied 44 fils. Equipment Holding Co dropped 10 fils and National Industries Co pulled 5 fils lower to wind up at KD 0.270. United Industries Co shaved off 6 fils. The company has won the approval of Capital Markets Authority for its request to buy back or sell up to 10% of own shares over a period of 6 months commencing approval date.

Zain, the bellwether stock, was unchanged at KD 0.680 whereas Wataniya Telecom tumbled 100 fils erasing the gains in the previous session. Agility gave up 10 fils to settle at KD 0.730 and the stock saw 0.65 million shares changed hands during the session.

Drifted
The market opened flat and drifted higher in early trade. The index continued to gain ground amid buying in select counters and peaked at 8118.82 pts ahead of the mid-session. It retreated thereafter as sentiments weakened and bottomed at 8,038.91 pts in final minutes before clawing back some of the losses at close.

Top gainer of the day, Future Kid rallied 9.62 pct to KD 0.114 and United Food Industries Group climbed 8.77 percent to stand next. First Takaful Insurance Co plunged 8.33 percent, the steepest decliner of the day and Gulf Finance House topped the volume with 48.63 million shares.

Reflecting the day's downswing, the losers outnumbered the winners. 44 stocks advanced whereas 58 closed lower. Of the 143 counters active on Thursday, 41 closed flat. 8,019 deals worth KD 38.14 million were transacted - down 13.16 percent in value from Wednesday. On the upside, Kuwait Portland Cement rallied 40 fils and Burgan Well Drilling Co climbed 25 fils to KD 0.285.

Aref Energy Holding Co added 10 fils . The company has incurred a net loss of KD 655,432 and loss per share of 0.9 fils in first quarter of 2013, narrowing from KD 9.19 mln loss and 12.3 fils LPS in the Q1 of 2012.

Kuwait Foundry Co rose 5 fils and ACICO Industries Co gained 10 fils to end at KD 0.330. Kuwait Gulf Links was up 4 fils at KD 0.128. The company has incurred a net loss of KD 881,469 and loss per share of 3.34 fils in the quarter ending March 31, 2013. Contracting and Marine Services Co climbed 10 fils recouping the loss on Wednesday. ALAFCO was flat at KD 0.305 off early lows and Jazeera Airways too did not budge from the earlier close of KD 0.500. Kuwait Food Co (Americana) paused at KD 2.140. The stock has retreated 140 fils so far during the month while year-to-date it has rallied 400 fils. In the banking sector, National Bank of Kuwait was unchanged at KD 0.950 and Gulf Bank frittered slight early gains to close flat at KD 0.405. Fitch Ratings earlier in the month affirmed NBK's Long-Term Issuer Default Rating (IDR) at 'AA-' with a Stable Outlook and Viability Rating (VR) at 'a'.

Flat
Commercial Bank of Kuwait stagnated at KD 0.700 and Al Ahli Bank followed suit to end at KD 0.455. Kuwait International Bank was flat at KD 0.315 off early highs and Burgan Bank too held steady at KD 0.620. Kuwait Finance House eased 10 fils and Boubyan Bank was flat at KD 0.630. The lender has obtained the approval of Central Bank of Kuwait to extend the approval of buying back and selling a maximum of 10% of its issued shares for another 6 months ending on October 14, 2013. Kuwait Investment Co slipped 2 fils whereas Commercial Facilities Co gained 15 fils with thin trading.

International Financial Advisors inched 1 fils lower with a volume of over 4 million shares. Investment conglomerate KIPCO stagnated at KD 0.500 whereas National Investment Co edged 2 fils lower. The company has won the approval of Capital Market Authority for the company's request to buy back or sell up to 10% of own shares over a period of 6 months. Kuwait Financial Centre Co and KMEFIC were up 2 fils each while Bayan Investment Co erased 3 fils after trading 1.4 million shares. Osoul Investment Co rose 4 fils whereas Sokouk Holding Co shed 10 fils. Noor Financial Investment Co took in 1 fils.

The bourse saw mixed trend during the week. It closed lower in 3 of the 5 sessions but gained 128.77 pts week-on-week. The index has declined 240.65 pts from start of the month and is trading over 34 percent higher year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region. In the bourse related news, Al-Safwa Group has incurred a net loss of KD 24.27 million and loss per share of 18.69 fils in the nine months period ending on 30 Sept 2012.

This compares with KD 7.98 loss and 6.14 fils in the same period last year. Al-Enmaa Real Estate Co has posted net profit of KD 939,377 and earnings per share of 2.09 fils in the six-month period ending 30April 2013 as compared to KD 1,087,364 profit and earnings per share of 2.41 fils in the same period last year Global Investment House has incurred a net loss KD 3.930 million in the quarter ending March 31, 2013 and loss per share of 8 fils as compared to net loss of KD 11.043 million and loss per share of 22 fils in the same period last year. Gulf Glass Manufacturing Co has posted net profit of KD 278,063 and earnings per share of 6.57 fils in the January-March period, falling from KD 586,602 profit and earnings per share 13.87 fils in the year before.

 






  MENA News Headlines
Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

Apr 24 2014Bahraini firms forecasted to grow 10 pct ,MENAFN
(MENAFN) In a report based on a study of over 650 companies across GCC, Kuwait Financial Centre (Markaz) forecasts a growth of the Bahraini companies' earnings by 10 percent in 2014, Gulf Daily News ...

Apr 24 2014Israeli Army Storms Deir Samit Village West of Hebron ,Qatar News Agency
(MENAFN - Qatar News Agency) bron April 24 - Israeli army forces stormed at dawn Thursday Deir Samit village southwest of Hebron city in the West Bank. The Israeli forces conducted raid and search ...

Apr 24 2014Qatar Airways to add more seats on Doha-Vienna route ,MENAFN
(MENAFN) Qatar Airways plans to offer more 1.700 seats on its Doha-Vienna route beginning from September 2014, according to Gulf News. The company aims to expand the growing passenger demand from ...

Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Georgian Justice Minister Leaves Doha ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - HE Minister of Justice of Georgia Tia Tsulukiana left Doha on Thursday morning wrapping up a two-day official visit to the country. An agreement on ...

Apr 24 2014Egyptian Premier Off to Chad ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egyptian Prime Minister Ibrahim Mehlib left cairo on Thursday for Chad the first leg of a three-day two-state trip that will also take him to Tanzania ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Israeli Tanks Enter Gaza Border area ,Qatar News Agency
(MENAFN - Qatar News Agency) Gaza April 24 - Six Israeli military tanks on Thursday entered a border area in the southern Gaza Strip witnesses said. The tanks crossed into Gaza in an area called ...

Apr 24 2014President Salva Kiir Relieves his Chief of the General Staff ,Qatar News Agency
(MENAFN - Qatar News Agency) Juba April 24 -South Sudanese President Salva Kiir relieved Chief of the General Staff of south sudan army James Hoth Mai. This came in a presidential decree aired ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014Australian Federal Parliament Deputy Speaker Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Canberra April 24 - Australian Federal Parliament Deputy Speaker Bruce Scott met here Thursday with HE Qatar's Ambassador to Australia Yousef bin Ali Al ...

Apr 24 2014Uruguay Public Health Minister Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Montevideo April 24 -Minister of Public Health in Uruguay Maria Susana Mu?iz met here on Thursday with HE qatari ambassador to the republic of Uruguay mohamed hassan ...

Apr 24 2014King bids to reassure Saudis as MERS deaths hit 85 ,AFP
(MENAFN - AFP) King Abdullah was in the Saudi commercial hub of Jeddah on Thursday in a bid to reassure a worried public as the death toll from the MERS virus hit 85. The Red Sea city has seen a ...

Apr 24 2014QBA strengthens economic ties with Kenya ,MENAFN
(MENAFN) Members of the elite Qatar Businessmen's Association (QBA) stated their willingness to cooperate with their Kenyan peers, strengthening economic ties between Qatar and Kenya, The Peninsula ...

Apr 24 2014Omani non-oil exports to enter African markets ,MENAFN
(MENAFN) A senior official at the Oman Chamber of Commerce and Industry (OCCI) said that the Sultanate is seeking expansion in new African markets, in a time it is looking forward to reduce its ...

Apr 24 20143 GCC countries among top 30 on network readiness index ,MENAFN
(MENAFN) According to an annual global technology survey for network readiness index for 2014, three GCC countries have made it to the top 30 list for the third year in a row, Gulf Daily News ...

Apr 24 2014US Secretary of State Meets Egyptian Intelligence Chief ,Qatar News Agency
(MENAFN - Qatar News Agency) shington April 24 - US Secretary of State John Kerry has met with the Egyptian Intelligence Chief Major General Mohammed Ahmed Fareed al-Tohami who is currently ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help