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

Kuwait bourse rebounds 42.05 pts volume soars  Join our daily free Newsletter

MENAFN - Arab Times - 16/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Kuwait stocks rebounded on Wednesday, stemming the three-day decline. The price index jumped 42.05 points to 7665.14 points helped by last minute spurt in buying. The market sentiment was markedly positive even as investors rejiged their positions ahead of the quarterly earnings. The KSX 15 benchmark eased 1.43 pts to 1062.97 points while weighted index edged 0.26 pts lower. The volume turnover meanwhile surged to cross the 700 million mark for the first time in almost 4 months. 704.67 million shares changed hands - a 73.87 percent rise from the day before. The sectors closed mostly in the positive side. Oil and gas outperformed the rest with 1.49 percent gain whereas telecommunication slid 1.68 pct, the biggest loser of the day. In terms of volume, industrials accounted for the highest market share of 31.11 percent while real estate was close behind with 31 percent. Financial services came in third with 27.70 percent contribution



Among the notable movers, United Projects Group spiked 50 fils to KD 0.760 while Kuwait Food Co (Americana) climbed 20 fils recouping the loss in the previous session. Gulf Petroleum Investment Co added 4 fils on back of 22.37 million shares while Gulf Franchising Holding Co was up 5 fils. Kuwait Cement Co rose 5 fils and NAPESCO vaulted 30 fils to KD 0.360. The company has posted a net profit of KD 2.64 million and earnings per share of 47.50 fils in the nine-months period ending September 30, 2013. NICBM climbed 5 fils and Equipment Holding Co ticked 2 fils higher with a volume of 1.82 million shares. Telecom major Zain was unchanged at KD 0.680 off early lows whereas Wataniya Telecom gave up 20 fils to settle at KD 1.780. Agility shed 20 fils after clocking 3.71 million shares and the stock has eased 10 fils from start of the month



Drifte

The market opened flat and moved sideways in early trade. The price index drifted lower briefly to hit the day's lowest level of 7622.25 pts and clawed back again to the opening level. It continued to trade in tight range before revving up in the in final minutes to close with strong gains. Top gainer of the day, Investors Holding Group vaulted 9.43 percent to 29 fils and Iskan Holding (Housing Finance Co) climbed 7.58 pct to stand next. KAMCO slid 7.58 percent, the steepest decliner of the day while Mayadeen topped the volume with 179.87 million shares. Mirroring the day's rebound, the market spread was skewed towards the gainers. 65 stocks advanced whereas 40 closed lower. Of the 153 counters active on Wednesday, 48 closed flat. 9424 deals worth KD 49.95 million were traded - a 45.96 pct jump in value from the day before



KGL Logistics Co was unchanged at KD 0.255 after trading over 1 million shares whereas Kuwait & Gulf Link fell 2 fils to KD 0.104. The company has incurred a net loss of KD 815,921 and loss per share of 3.09 fils in the first nine-months of 2013, narrowing from KD 5.79 million loss and 21.92 fils LPS in the year before period. On the downside, Burgan Well Drilling Co fel1 10 fils and IFA Hotels and Resorts followed suit to end at KD 0.260. PAPCO slipped 6 fils to KD 0.120 whereas ALAFCO closed flat at KD 0.270 and Safwan Trading and Contracting Co was down 25 fils at KD 0.460



Gulf Glass Manufacturing Co dived 50 fils to KD 0.670 ACICO Industries Co shed 10 fils. Kuwait Cable Vision Co inched 1 fils lower. The company has incurred a net loss of KD 284,136 and loss per share of 9.47 fils in the January-September period of 2013. ALAFCO too held steady at KD 0.275 off early lows

Kuwait Portland Cement closed flat and Gulf Cables followed suit. The company has earned KD 9.06 million and clocked an earnings per share of 43 fils in the first nine-months of 2013 as compared with net profit of KD 10.54 million and earnings per share of 50 fils in the same period last year





Clippe

Metal and Recycling Co fell 2 fils to KD 0.134 and United Industries Co clipped 4 fils. National Industries Group eased 2 fils to KD 0.232 . 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 September 30,2013 . Kuwait Foundry Co held the ground unchanged at KD 0.420 off early lows. In the banking sector, National Bank of Kuwait fell 10 fils to KD 0.880 whereas Gulf Bank rose 5 fils to KD 0.370 taking the month's losses 5 fils. Commercial Bank of Kuwait held steady at KD 0.720 and Al Ahli Bank followed suit to close at 0.435. Ahli United Bank stagnated at KD 0.710 whereas Kuwait International Bank added 5 fils to close at KD 0.295. Burgan Bank closed flat at KD 0.560 whereas Kuwait Finance House rose 10 fils on back of 6.58 million shares. Boubyan Bank paused at KD 0.550



International Financial Advisors flunked 1 fils after clocking a volume of 12.73 million shares whereas National Investment Co eased 2 fils. The company has won the approval of Capital Markets Authority to the company's request to buy back or sell up to 10% of own shares over a period of 6 months. KIPCO gained 10 fils to settle at KD 0.640 while Securities House and KFIC rose 3 fils each. KAMCO retreated 10 fils to KD 0.122 whereas Housing Finance Co was up 5 fils at 67 fils. Mabanee Co shed 20 fils. The bourse has been mixed during the week. It closed higher in 3 of the 4 sessions in the holiday curtailed week and clipped 3 points week-on-week. The index had declined 185 points in December but has gained over 27 percent during 2013. 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 Sept 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



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 September 2013, soaring from KD 4.73 million profit and earnings per share of 47.43 fils in the 9M period of 2012. Automated Systems Co has earned KD 1.45 million in the nine-month period ending Sep 30, 2013 while earnings per share stood at 36.27 fils. This compares with KD 4.01 million net profit and 100.26 fils EPS in the same period last year

 


Arab Times




  MENA News Headlines
 Sep 17 2014 - Kyrgyz Energy and Industry Minister Meets Qatari AmbassadorQatar News Agency
(MENAFN - QNA) Minister of Energy and Industry of the Republic of Kyrgyzstan Osmonbek Artykbaev met Wednesday with HE Qatar's Ambassador in Bishkek Mohammed bin Arar Al Nuaimi. During the meeting, ...

 Sep 17 2014 - Japan to Donate over $10 Million to Iraqi, Syrian RefugeesQatar News Agency
(MENAFN - QNA) Japan plans to donate more than $10 million through international organizations to Iraqi and Syrian refugees displaced by the Islamic State militant group (ISIS), sources close to ...

 Sep 17 2014 - Qatar Seeks to Diversify National Economy by Attracting Foreign InvestmentsQatar News Agency
(MENAFN - QNA) HE Qatar's Ambassador to the United States Mohammed Jaham Al Kuwari has stressed that the State of Qatar is seeking to diversify its national economy by attracting foreign investments ...

 Sep 17 2014 - Summary of Local News Released Tuesday - 1-Qatar News Agency
(MENAFN - QNA) - Trade Minister of the Republic of Ecuador Francisco Rivadeneira has met with HE Qatar's Ambassador to Ecuador Hassan Ibrahim Abdurrahman Al-Maliki . - A delegation from the ...

 Sep 17 2014 - Summary of Local News Released Tuesday - 2-Qatar News Agency
(MENAFN - QNA) - Over 70 delegates are receiving insights on organizing major sports events at a two-day course that opened Tuesday at the Qatar National Convention Centre in Doha. - The State of ...

 Sep 17 2014 - Summary of Local News Released TuesdayQatar News Agency
(MENAFN - QNA) A summary of local news released Tuesday by Qatar News Agency. - HH the Emir Sheikh Tamim bin Hamad Al-Thani sent Tuesday a cable of congratulations to the President of the United ...

 Sep 17 2014 - Qatar Airways receives its first Airbus A380MENAFN
(MENAFN) Qatar Airways has taken delivery of its first A380 superjumbo following a three-month standoff with plane maker Airbus over the quality of cabin fittings, Gulf Business reported.However the ...

 Sep 17 2014 - Egypt plans to woo foreign investorsMENAFN
(MENAFN) Egypt is introducing economic reforms to help the country in its plan to re-attract foreign investments and boost domestic growth rates in order to restore its ailing economy, which is ...

 Sep 17 2014 - MENA's investments in rail projects hit USD167bMENAFN
(MENAFN) Investment in rail projects is accelerating throughout the Middle East and North Africa region (MENA), with at least USD167 billion-worth of active or future rail or metro projects being ...

 Sep 17 2014 - India to remain UAE top export destinationMENAFN
(MENAFN) The UAE is likely to remain top export destination for India till 2030, and China is forecast to emerge as the second largest export market, displacing the US, Khaleej Times reported.India, ...

more...


 






Google

Click to Apply

 
 

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

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