Quotes: 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 fis 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
 May 1 2016 - Middle East aims Arab tourists despite fall in visitor numbersMENAFN
(MENAFN) Middle East nations are targeting Arabs, particularly from the Gulf, whereas many visitors remain cautious on visiting the region with war in Iraq and Syria.Moreover, Egypt saw a 40 percent ...

 May 1 2016 - Oman to build oil storage near Duqm port at USD 300mnMENAFN
(MENAFN) Oman aims to build a main oil storage terminal on its southeastern coast, spending between USD 300 and 400mn of the first phase.Moreover, it will be built by a subsidiary of state-owned Oman ...

 May 1 2016 - King Abdullah Port to boost economy in KSAMENAFN
(MENAFN) King Abdullah Port will play an important role in pushing the economy and specifically the trade in Saudi Arabia.Additionally, the port acts like a barometer and a catalyst for the growth of ...

 May 1 2016 - Bahrain to benefit from Jordan's health sectorMENAFN
(MENAFN) Bahrain affirmed keenness to benefit from Jordan's health legislation expertise and to start mega health projects in cooperation with Jordan.Furthermore, the Bahraini lawmakers discussed ...

 May 1 2016 - Dubai to build new bridge at Jebel Ali Zone at USD 28.58mnMENAFN
(MENAFN) Dubai will build a new bridge project which will link the South and North of Jebel Ali Zone.Moreover, the project which will be undertaken in cooperation with the Jebel Ali Zone will cost ...

 May 1 2016 - Qatar's Ezdan Holding net profit grows 12 percent in Q1MENAFN
(MENAFN) Real Estate Ezdan Holding Group posted a net profit of USD 160.82mn for Q1 of 2016, up 12 percent compared to USD 143.39mn posted last year.Moreover, the group is working to issue USD 2bn ...

 May 1 2016 - Yemen foes hold 'productive' direct talks on key issues: UNThe Peninsula
(MENAFN - The Peninsula) Yemen's United Nations envoy Ismail Ould Cheikh Ahmed arrives for a press conference at the ministery of information in Kuwait City on April 30 2016. Yemen's warring parties ...

 May 1 2016 - Arab League Council to hold emergency meeting at Qatar's request on Wednesday to discuss situation in AleppoThe Peninsula
(MENAFN - The Peninsula) Cairo: The General Secretariat of the Arab League has decided holding of an emergency meeting of Arab League Council at the level of permanent delegates on Wednesday ...

 May 1 2016 - Prospects for Syria political solution 'in danger': opposition chiefThe Peninsula
(MENAFN - The Peninsula) President of the National Coalition for Syrian Revolutionary and Opposition Forces Anas Al Abdeh (C) attend the 28th general meeting of Syrian Opposition and the National ...

 May 1 2016 - Qatar- Iraq forces in major offensive on Islamic State-held townThe Peninsula
(MENAFN - The Peninsula) Iraqi pro-government forces and Shiite fighters from the Popular Mobilisation units hold position on April 30 2016 as they launch an operation to retake the town of al-Bashir ...

 May 1 2016 - 'Enterprise Challenge Qatar' winners honouredThe Peninsula
(MENAFN - The Peninsula) DOHA: The ‘Enterprise Challenge Qatar’ 2016 a competition to develop the spirit of entrepreneurship among young people has recognised the winners of the Schools ...

 May 1 2016 - Qatar takes part in Quran recitation and memorisation contest in MalaysiaThe Peninsula
(MENAFN - The Peninsula) Doha: Qatar is participating in the 58th International Al Quran Recitation and Memorisation Assembly in Malaysia represented by Reciter Al Numan Imran Abdul Hamid who is ...

 May 1 2016 - Qatar's contributions to Sudan's economic stability praisedThe Peninsula
(MENAFN - The Peninsula) Khartoum: Sudanese Minister of Investment Mudesir Abdul-Ghani yesterday hailed Qatar’s contributions to achieving economic stability in Sudan. Abdul-Ghani told the ...

 May 1 2016 - Qatar- Ashghal to open two permanent lanes on Mesaieed Road 1 and divert trafficThe Peninsula
(MENAFN - The Peninsula) Doha: The Public Works Authority (Ashghal) will open two permanent lanes that are 2.5km long on Mesaieed 1 Road which is the link road between Hamad Port and the ...

 May 1 2016 - 102 Qataris gain leadership skillsThe Peninsula
(MENAFN - The Peninsula) H E Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani Chairperson Board of Directors QLC and Minister of State for Defence Affairs and Vice Chair QLC Board with Qatari ...

 May 1 2016 - Qatar- Katara to train SU-Q studentsThe Peninsula
(MENAFN - The Peninsula) Dr Khalid bin Ibrahim Al Sulaiti (right) General Manager Cultural Village Foundation and Dr Ivan Ninov Executive Dean Stenden University Qatar after the signing ceremony held ...

 May 1 2016 - Qatar- HBKU Press unveils QScience Collections to boost researchThe Peninsula
(MENAFN - The Peninsula) Doha: QScience.com the online open access platform of HBKU Press is providing a new service that helps increase the impact of published articles. QScience Collections is a ...

 May 1 2016 - Qatar- Ooredoo tv includes MBC Pro Sports HD channels with Saudi Premier League coverageThe Peninsula
(MENAFN - The Peninsula) Doha: Ooredoo’s innovative new entertainment service Ooredoo tv has launched the ‘MBC Pro Sports HD’ catalogue enabling viewers to access four new channels. ...

 May 1 2016 - Qatar- Marine environment reviewedThe Peninsula
(MENAFN - The Peninsula) Doha: The Ministry of Municipality and Environment hosted a Meeting of the Steering Committee of the Marine Environmental High Risk Areas (MEHRAs) and Place of Refuge Project ...

 May 1 2016 - Qatar- Canadian journalist to speak at NU-Q graduation ceremony todayThe Peninsula
(MENAFN - The Peninsula) Renowned Canadian journalist Lyse Doucet will be the commencement speaker at its 2016 graduation ceremony. DOHA: Northwestern University in Qatar (NU-Q) will welcome ...

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help