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

Kuwait Bourse Resumes Slide Sheds 46.99 Pts  Join our daily free Newsletter

MENAFN - Qatar News Agency - 18/12/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Qatar News Agency) Kuwait stocks retreated on Tuesday after eking modest rebound in the previous session. The index dropped 46.99 pts in choppy trade to close at 7,609.17 pts as sentiment turned weak. The mid and low caps paced the decline whereas some of the banks bucked the trend to close higher. The bourse has closed lower in 6 of the last 7 sessions. The KSX 15 gauge however climbed 3.6 pts to 1,079 points taking the year's gains to 70 pts whereas the weighted index edged 0.32 points higher to 452.77 points. The volume turnover meanwhile receded slightly to slip below the 200 million mark. 183.48 million shares changed hands - a 8.82 percent fall from the day before.

The sectors closed mostly in the red. Basic materials out led the rest with 0.66 percent uptick whereas technology slid 2.22 percent, the worst performer of the day. Volume wise, real estate accounted for the highest market share of 42.82 percent and financial services came in next with 31.39 percent Industrials was a distant third with 9.94 percent contribution. Among notable losers, Kout Food Group tumbled 50 fils to KD 0.740 erasing the solid gains in the previous session. Automated Systems Co dived 25 fils and Safwan Trading and Contracting Co was down 40 fils at KD 0.500. Credit Rating and Collection Co gave up 8 fils to end KD 0.106. IFA Hotels and Resorts fell 5 fils to KD 0.285 after clocking over 1 million shares while Gulf Cables retreated 10 fils extending the losses in Monday, Kuwait Cement Co slipped 5 fils while Metal and Recycling Co ticked 2 fils lower.

Stagnate
Bourse heavyweight Zain continued to stagnate at KD 0.700 off early lows whereas Wataniya Telecom shed 20 fils . Agility gave up 10 fls to wind up at KD 0.720 and the stock has rallied 210 fils in 2013. The market opened weak but spiked briefly in early trade. The index hit the day's highest level of 7666.82 pts before drifting lower as investors toed caution. It continued to weaken in the second half and closed in deep red.
Top gainer of the day, KBMMC spiked 10 percent to KD 0.275 and Strategia Holding climbed 6.94 percent to stand next. Ream shed 8.62 percent, the steepest decliner of the day while Kuwait Real Estate Co topped the volume with 14.25 million shares.

Reflecting the day's decline, the market spread was skewed towards the losers. 28 stocks advanced whereas 66 closed lower. Of the 140 counters active on Tuesday, 46 closed flat. 5311 deals worth KD 20.66 million were transacted -9.21 percent fall from the day before. Equipment Holding eased 2 fils and United Industries Co followed suit. ACICO Industries slipped 10 fils. The company has logged net profit of KD 4.04 million and earnings per share of 16.33 fils in the first nine-months of the year, up from KD 2.33 million profit and 9.42 fils EPS in the 9M of 2012. On the upside, NAPESCO rallied 30 fils to KD 0.530 and Kuwait Food Co (Americana) rose 20 fils recouping the loss in the previous session. The stock has shed 80 fils so far during the month and is trading 600 fils higher year-to-date. Kuwait Foundry Co was flat at KD 0.395 and Boubyan Petrochemicals Co added 10 fils has won the approval of Capital Markets Authority for the company's request to buy back or sell up to 10% of own shares over a period of 6 months.

United Projects Group rose 10 fils whereas National Industries Group held the ground steady at KD 0.230. The company has posted a net profit of KD 10.49 million and earnings per share of 8.3 fils in the nine-month period ending Septt 30, 2013, as against KD 11.44 million profit and earnings per share of 9.1 fils in the 9M of 2012. Kuwait Gulf Links clawed back slight early losses to stagnate at KD 0.104 and KGL Logistics Company followed suit. announced that Capital Markets Authority approved, on October 30, 2013, the company request to buy back or sell up to 10% of own shares over a period of 6 months commencing date of approval. In the banking sector, Gulf Bank was unchanged at KD 0.375 and National Bank of Kuwait followed suit. NBK has said that the country was set to secure 1.43 billion in financing from a consortium of banks for the Az-Zour North Power and Desalination Plant.

Huge
"It's a huge deal but it's too late in the year for it to have an impact," Reuters quoted Fouad Darwish, head of brokerage services at Global Investment House earlier on Monday. "Many people are talking of a good year to start next month." Al Ahli Bank paused at KD 0.470 whereas Ahli United Bank added 10 fil to settle at KD 0.730. Kuwait International Bank held steady at KD 0.290 and Boubyan Bank followed suit. Kuwait Finance House gained 10 fils and Burgan Bank too was up by same measure to close at KD 0.570. Kuwait Investment Co fell 2 fils to KD 0.134 and International Financial Advisors edged 2 fils lower after clocking 12.48 million shares.. National Investment Co was flat at KD 0.160 paring slight early gains whereas KIPCO rose 19 fil.
KMEFIC flunked 1 fils and Noor Financial Investment Co was down 8 fils at KD 0.120. Al Deera Holding Co took in 1 fils whereas Sokouk Holding slipped 2 fils. Strategia Investmnt Co however managed to close 5 fils higher.

The bourse bas been trending lower and has lost 97 points in the last three sessions. The index has retreated 166 points from start of the month and is trading over 28 percent higher year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region. In the bourse related news, Warba Bank announced has logged a net loss of KD 3.12 million in the nine-month period ending Septt 30, 2013 and chalked a loss per share of 3.12 fils as against KD 2.06 net loss and and loss per share of 2.07 fils in the same period last year.

Independent Petroleum Group has posted a net profit of KD 4.35 million in the first nine months of 2013 while earnings per share came in at 30.10 fils. This compares with KD 5.07 million net profit and earnings per share of 35.10 fils in the same period last year. Advanced Technology has logged a net profit of KD 3.34 million and earnings per share of 22.304 fils in the nine-month period ending Sept 30, 2013, up from KD 2.90 million and earnings per share of 19.341 fils in the same period last year. Kuwait National Cinema has notched a net profit of KD 6.13 million earnings per share of 61.74 fils in the nine-month period ending Septtember 2013, soaring from KD 4.73 million profit and earnings per share of 47.43 fils in the 9M period of 2012.

 






  MENA News Headlines
Apr 23 2014Kowait: 5938 illegal residents said 'rectified' status ,Arab Times
(MENAFN - Arab Times) Kuwait city april 5 (kuna): up to 5 938 illegal residents have modified their status since formation of the central agency for remedying illegal residents' status in 2011 ...

Apr 23 2014Kowait- 'All must join hands to save youth from strife' ,Arab Times
(MENAFN - Arab Times)  kuwait city april 9 (kuna): minister of information and minister of state for youth affairs sheikh salman al-sabah said tuesday the youth ministry has completed a study ...

Apr 23 2014Kowait- MoH boosts efforts to curb obesity rate ,Arab Times
(MENAFN - Arab Times)  kuwait city feb 3 (kuna): director of the health well-being division of the ministry of health dr abeer al- baho affirmed sunday that the ministry scaled up the efforts ...

Apr 23 2014UAE- Local international companies come out in force ,Khaleej Times
(MENAFN - Khaleej Times) Cityscape abu dhabi has started showing stronger interest from property developers who have showcased their upcoming projects. the three-day realty show was opened by ...

Apr 23 2014UAE- ADCB NIC in Dh950 million deal ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi commercial bank or adcb this week inked a dh950 million term facility to provide national investment corporation or nic the developer of the breakwater area in ...

Apr 23 2014Galadari Automobiles unveils all-new 2015 Mazda3 in UAE ,Khaleej Times
(MENAFN - Khaleej Times) The all-new mazda3 was unveiled to the world at events held simultaneously in five cities where the consensus was loud and clear: ?mazda has done it again!? galadari ...

Apr 23 2014Kowait- Parliament refuses to lift MP immunity ,Arab Times
(MENAFN - Arab Times) Kuwait april 3 (kuna): the national assembly committee on legislative and legal affairs has turned down a request from the public prosecution on wednesday to lift the immunity ...

Apr 23 2014Kowait- 'Probe delay in Jaber Stadium construction' ,Arab Times
(MENAFN - Arab Times) Kuwait city april 7 (kuna): the cabinet has asked its fatwa and legislation department to take necessary legal procedures to send a report on negligence and remissness that ...

Apr 23 2014UAE- Cassation Court upholds' drug dealer's life term ,Khaleej Times
(MENAFN - Khaleej Times) The abu dhabi court of cassation on monday upheld the life sentence awarded to a gcc national for drug smuggling and trafficking. the court also upheld his one-year ...

Apr 23 2014Kowait- Police deportation powers curbed ,Arab Times
(MENAFN - Arab Times) Kuwait city april 3 (afp): kuwaiti police will no longer be able to deport expatriates without interior ministry approval under new rules published thursday after officers ...

Apr 23 2014Breaking an egg ... for charity in Abu Dhabi ,Khaleej Times
(MENAFN - Khaleej Times) The campaign which runs till the end of april features a live exhibition to the public and a private auction of the life-sized eggs. shaikh nahyan bin mubarak al nahyan ...

Apr 23 2014Kowait- Rationalization of water use in focus ,Arab Times
(MENAFN - Arab Times) Kuwait city april 7 (kuna): under the patronage of minister of electricity and water abdulaziz al-ibrahim kuwait environment protection society (keps) organized monday a ...

Apr 23 2014Kuwait- Five individuals tested negative for Coronavirus ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Health Authority of Abu Dhabi (HAAD) announced here on Tuesday that five more of the individuals who were in isolation in hospital with MERS Coronavirus ...

Apr 23 2014Kowait- Amiri Diwan urges all off tape case ,Arab Times
(MENAFN - Arab Times)  kuwait city april 9 (agencies): the amiri diwan has called on everybody to steer clear of the controversial tape issue and let the public prosecution take the necessary ...

Apr 23 2014Kowait- New hospital to be ready by 2014 end ,Arab Times
(MENAFN - Arab Times) Kuwait city jan 14 (kuna): director of the 'mega projects 3' group at kuwait oil company (koc) yaqoub dashti said on tuesday that the new ahmadi hospital would be ready to ...

Apr 23 2014UAE- Dewa and GE explore collaboration opportunities ,Khaleej Times
(MENAFN - Khaleej Times) Saeed mohammed al tayer managing director and chief executive officer of the dubai electricity and water authority (dewa) recently received a ge delegation to explore ...

Apr 23 2014Jordan complains to UNSC about Israeli "alarming" developments in Al-Aqsa compound ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Jordan on Tuesday complained to the Security Council about the unhindered incursions into the Haram Al-Sharif compound by Israeli settlers and extremists, under ...

Apr 23 2014UAE- Sale of Gate Towers penthouses launched ,Khaleej Times
(MENAFN - Khaleej Times) Aldar properties has launched the sale of 21 exclusive duplex penthouse apartments at gate towers the penthouse collection in shams abu dhabi on al reem island. one of ...

Apr 23 2014Kowait- Men women's brains wired differently ,Arab Times
(MENAFN - Arab Times) Washington dec 23 (afp): women aren't very good at reading maps and men are incapable of multi-tasking. at first glance they might seem like a couple of hoary old stereotypes ...

Apr 23 2014Emirates NBD opens branch at Wafi Mall ,Khaleej Times
(MENAFN - Khaleej Times) Emirates nbd on tuesday announced the opening of its new branch at wafi mall which is in line with the bank?s strategy to focus on customer centricity and convenient ...

more...


 
Click to Apply






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