Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait Measure Sheds 23.29 Pts Volume Rises  Join our daily free Newsletter

MENAFN - Arab Times - 04/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Kuwait stocks swung lower Monday, partly reversing the gains in the previous session. The index dropped 23.29 pts in choppy trade to settle at 7,786.72 points weighed by speculative selling in some of the mid and low caps. Most of the frontline stocks closed mixed. The KSX 15 benchmark climbed 5.78 pts to 1,080.59 pts and is up 28 pts from start of the year whereas weighted index edged 0.22 pts higher to 461.12 pts. The volume turnover meanwhile ticked higher after receding in the last 3 sessions. 327.94 million shares changed hands - a 7.35 pct increase from Sunday. It had soared above the 700 million mark on Jan 16 to hit a multi-month high



The sectors closed mostly in the red. Industrials outperformed the rest with 0.32 percent upswing whereas real estate shed 0.89 pct, the biggest loser of the day. In terms of volume, industrials garnered the highest market share of 29.52 pct while financial services and real estate came in next with 27.08 percent and 27.01 pct respectively. Among the losers, Advanced Technology dropped 20 fils to KD 0.910 and Hilal Cement followed suit to wind up at KD 0.230. Kuwait Portland Cement slid 40 fils and Salhia Real Estate Co gave up 20 fils to close at KD 0.370



The Energy House slipped 4 fils and Al Salam Group Holding Co fell 6 fils to KD 0.116. IFA Hotels and Resorts eased 5 fils to close at KD 0.275 and Gulf Petroleum Investment Co too was down by same measure. Market heavyweight Zain bucked the trend to gain 10 fils whereas Wataniya Telecom held steady at KD 1.840 off early lows. Zain has earned KD 216.44 million and chalked an earnings per share of 56 fils in 2013 and the Board of Directors has recommended a cash dividend of 50%. Agility climbed 20 fils to close at KD 0.680 and the stock is trading 10 fils down year-to-date.





Slippe

The market opened weak and slipped into red in early trade. The index moved sideways briefly before resuming the downswing as sentiment turned negative. It hit the day's lowest level of 7,776.05 pts almost half way into the session and edged up before closing slipping again in the final minutes.

Top gainer of the day, KAMCO rallied 7.81 pct to close at KD 0.138 and National Company For Consumer Industries climbed 6.94 pct to stand next. Pearl For Real Estate Co dived 8.2 percent, the steepest decliner of the day and Mayadeen topped the volume with over 55 million shares.

Reflecting the day's decline, the losers outled the winners. 40 stocks advanced whereas 55 closed lower. Of the 143 counters active on Monday, 48 closed flat. 6,114 deals worth KD 33.50 million were transacted - a 7.62 pct fall in value from the day before





On the flip side, Jazeera Airways gained 10 fils recouping the drop in the day before and Gulf Cable followed suit. Boubyan Petrochemical Co rose 10 fils to KD 0.690 whereas Mabanee Co jumped 20 fils to KD 1.180. Metal and Recycling Co ticked 2 fils higher

Kuwait Food Co (Americana) was flat at KD 2.500 and KGL Logistics Co followed suit. The company has won the approval of Capital Markets Authority to its request to buy back or sell up to 10% of own shares over a period of 6 months commencing date of approval

ACICO Industries Co was unchanged at KD 0.275 and Kuwait Cement Co followed suit. The company has completed the 2nd phase of subscription in increasing its capital by 7%, which was fully covered. The company's capital after the increase stands at KD 73.330 million.

National Industries Group, the flagship company of Kharafi Group frittered away slight early gains to end flat at KD 0.228 and Kuwait Gulf Links too did not budge from its earlier close of KD 0.104. ALAFCO paused at KD 0.260.





Ease

In the banking sector, National Bank of Kuwait was unchanged at KD 0.940 after clocking a volume of over 4 million whereas Gulf Bank added 5 fils. Al-Ahli Bank of Kuwait eased 5 fils. The bank has recorded a net profit of KD 35.42 million and earnings per share of 22 fils in the year ending Dec 31, 2013 as compared to KD 30.027 million profit and earnings per share of 19 fils in 2012. The Board of Directors has recommended a cash dividend of 13%

Ahli United Bank dropped 10 fils to KD 0.740 whereas Kuwait International Bank closed 5 fils higher. Burgan Bank gained 10 fils whereas Commercial Bank of Kuwait was not traded during the session.

Kuwait Finance House paused at KD 0.800 with a volume of 4.3 million whereas Boubyan Bank shed 10 fils. The bank has registered a net profit of KD 13.408 million and earnings per share of 7.29 fils in the year ending Dec 31, 2013 and the Board of Directors has recommended 7 pct bonus shares as dividend

Kuwait Investment Co slipped 4 fils to KD 0.170 and International Financial Advisors clipped 3 fils. National Investment Co stagnated at KD 0.154 of early lows and KIPCO was down 10 fils at KD 0.650

Kuwait Financial Centre took in 2 fils and KMEFIC added 3 fils. Al Mal Investment Co inched 1 fil up whereas Bayan Investment closed flat. KAMCO gained 10 fils whereas Osoul Investment Co flunked 1 fil





The bourse has been mixed so far during the week and has added 31 pts in the last two sessions. The price index had rallied 205 points during whole of January after dropping 185 points in December. KSE, with 213 listed companies, is the second largest bourse in the region

In the bourse related news, Mashaer Holding has posted a net profit of KD 3.64 million and earnings per share of 20 fils during 2013 as against KD 4.31 million profit and earnings per share of 25 fils in the year before. The Board of Directors has recommended cash dividend of 15%

City Group has logged a net profit of KD 5.46 million and chalked an earnings per share of 48 fils in the year ending Dec 31, 2013, up from KD 3.57 million profit and earnings per share of 32 fils in the year before. The Board of Directors have recommended cash dividend of 35%

Refrigeration Ind and Storage Co, has announced a net profit of KD 2.72 million and earnings per share of 30.80 fils in 2013 as against KD 2.41 million profit and earnings per share of 27.30 fils the year before. The Board of Directors has recommended a cash dividend of 10%

Kuwait Building Materials Mfg has recorded a net profit of KD 581,231 and earnings per share of 19.17 fils in the year ending Dec 31, 2013, up from KD 411,453 profit and earnings per share of 13.57 fils in 2012. The Board of Directors has recommended 10 percent cash dividend.

 


Arab Times




  MENA News Headlines
 Dec 18 2014 - Cold weather expected todayJordan News Agency
(MENAFN - Jordan News Agency)  The weather will be relatively cold today in the hilly areas and fair in the desert regions, Aqaba and the Jordan Valley with southeasterly moderate winds.A slight rise ...

 Dec 18 2014 - Jewish settlers storm Al Aqsa MosqueJordan News Agency
(MENAFN - Jordan News Agency)  Groups of Jewish settlers on Wednesday stormed Al Aqsa Mosque yards via the Al-Magarbah Gate, under the pretext of tourism.According to Petra's reporter in Jerusalem, ...

 Dec 18 2014 - ASE starts trading on higher noteJordan News Agency
(MENAFN - Jordan News Agency)   The Amman Stock Exchange (ASE) opened trading on Wednesday with a rise to 2138 points compared to 2133 points of last session closure, according to market sources.The ...

 Dec 18 2014 - Christmas holiday announcedJordan News Agency
(MENAFN - Jordan News Agency)  All Ministries and other public departments and institutions will observe a holiday on Thursday, December 25 on the occasion of Christmas, according to a communiqué ...

 Dec 18 2014 - Three people injured in traffic accident in AmmanJordan News Agency
(MENAFN - Jordan News Agency)  Three people were injured and a vehicle was burnt in a traffic accident near the Fifth Circle in Western Amman.According to the Civil Defence Department's media office, ...

 Dec 18 2014 - 90 products from 45 factories obtain Jordanian Quality MarkJordan News Agency
(MENAFN - Jordan News Agency)  The Jordan Institution for Standards and Metrology (JISM) announced on Wednesday that some 90 Jordanian products from 45 factories in the food, chemical and engineering ...

 Dec 18 2014 - Kuwait- 2nd conf on combating fake medicines, medical appliances winds upKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) An international conference held has recommended setting deterrent penalties for perpetrators of fake medicine crimes, as well as smugglers.The 2nd International ...

 Dec 18 2014 - Cabinet approves economic and technical cooperation agreement with ChinaJordan News Agency
(MENAFN - Jordan News Agency)  The cabinet approved during its session today which was chaired by Prime Minister Abdullah Ensour, the economic and technical cooperation agreement expected to be ...

 Dec 18 2014 - Int'l coalition pounds 67 ISIL positions in Syria, IraqKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) US and partner nation military forces continued to attack ISIL terrorists from Monday to Wednesday using fighter and bomber aircraft to conduct six airstrikes in ...

 Dec 18 2014 - PM visits Iraq tomorrowJordan News Agency
(MENAFN - Jordan News Agency)  Prime Minister Abdullah Ensour will depart for Baghdad tomorrow on a one-day official visit to Iraq.Ensour, who will be leading a ministerial delegation, will meet with ...

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