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.

Drifted
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.


Clipped
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.

 






  MENA News Headlines
Apr 23 2014Omantel launches service package for youth ,MENAFN
(MENAFN) Omantel announced launching 'Ozone' plan, a new package designed especially for the youth. This comes with the company"s constant efforts to enhance the communication needs of its customers, ...

Apr 23 2014Dh154 billion for Arabtec projects ,Khaleej Times
(MENAFN - Khaleej Times) Arabtec will spend dh140 billion on building one million low-cost houses in egypt and dh14 billion on five mixed-use residential projects in abu dhabi and dubai its chief ...

Apr 23 2014?Titli? makers excited about Cannes selection ,Khaleej Times
(MENAFN - Khaleej Times) The movie about the badlands of delhi?s dystopic underbelly will be in competition as part of the un certain regard section of the 67th cannes film gala to be held may ...

Apr 23 2014Saudi- Yaroub Bashraheel: In search of peace ... underwater ,Arab News
(MENAFN - Arab News) You've heard of diving snorkeling and other water activities but rarely has anyone heard of free-diving. it's a form of diving underwater without the aid of any breathing ...

Apr 23 2014Saudi- Schneider highlights intelligent health care solutions at forum ,Arab News
(MENAFN - Arab News) Schneider electric a global specialist in energy management is set to showcase its leadership in intelligent health care solutions at the second saudi forum for planning and ...

Apr 23 2014Saudi- Divorcees can seek housing ,Arab News
(MENAFN - Arab News) The kingdom will accept applications from saudi divorced women and widows for financial and housing support said justice minister muhammad al-issa.al-issa called on applicants ...

Apr 23 2014Saudi- New passport office opens at Red Sea Mall ,Arab News
(MENAFN - Arab News) The passport department has opened a new office for citizens and residents at the red sea mall.gen. abdul rahman bin abdullah al-tuwairki deputy director general of the ...

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 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 2014Saudi Savola Group revenue up 43 pct in Q1 ,MENAFN
(MENAFN) Saudi Arabia's Savola Group registered a 43 percent increase in profits in the first quarter, well over expectations of analysts, Arabian Business reported. According to a statement to ...

Apr 23 2014Dewa 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 2014Local 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 2014Tamouh steps up activity on projects ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi-based real-estate developer tamouh has scaled up construction activity on all of its announced reem island projects to meet the rising demand for prime spaces in ...

Apr 23 2014ADCB 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 2014Here?s your chance to share screen space with SRK ,Khaleej Times
(MENAFN - Khaleej Times) Groupon india has joined hands with srk?s red chillies entertainment to give fans a chance to feature with the superstar in his upcoming film ?happy new year?. if you ...

Apr 23 2014Sale 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 2014ADCB profit grows 26% in first quarter ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi commercial bank?s profit grew 26 per cent in the first quarter of the year to dh1. however net profit rose 22 per cent year-on-year. non-interest income was 24 ...

Apr 23 2014Gitex Shopper Spring 2014 to open doors today ,Khaleej Times
(MENAFN - Khaleej Times) Gitex shopper spring 2014 is set to open doors today with best bargains on latest tech products along with millions of dirhams worth of prizes during the four-day ...

Apr 23 2014Lebanon sends trapped citizens aid ,Arab News
(MENAFN - Arab News) Ras al-harf: lebanese authorities on tuesday sent a rare aid convoy to the town of tufeil an island of lebanese territory inside syria where thousands have become trapped in ...

Apr 23 2014Saudi- Insurance sector index surges 2.27% ,Arab News
(MENAFN - Arab News) The benchmark tadawul all-share index (tasi) closed tuesday's trading session down by 11.18 points or 0.12 percent to 9606.58 after being low as much as 55 points during the ...

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