Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait - KSE Drops 7.57 Points Amid Choppy Trading  Join our daily free Newsletter

MENAFN - Arab Times - 06/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Kuwait stocks pulled lower Wednesday partly reversing the gains in the day before. The market slipped 7.57 points in choppy trade to close at 7802.98 pts as profit taking weighed on select counters. The market has been wavy during the week even as the investors digested the financial results. The KSX 15 eased 0.69 pts to 1,079.53 points trimming the month's gains to 2 points while weighted index edged 0.81 pts lower to 461.9 points. The volume turnover meanwhile dropped below the 400 million mark to hit the lowest level from start of the month. 301.49 million shares changed hands - a 25.75 pct drop from Tuesday. The sectors closed mostly in the red. Parallel market outshone the peers with 1.29 pct upswing whereas insurance slid 1.06 pct, the biggest loser of the day. In terms of volume, real estate topped with 37.29 pct and financial services came in next with 32.61 percent



Ndustrials was a distant third with 16.98 percent contribution. Among the losers, Kuwait Food Co (Americana) shed 20 fils to close at KD 2.500 and Al Ahleia Insurance Co too was down by same measure. IFA Hotels and Resorts and Gulf Franchising Holding Co eased 5 fils each while KGL Logistics Co pulled 4 fils lower. Egypt Kuwait Holding Co fell 10 fils to KD 0.260 and Boubyan Petrochemical Co followed suit. Shuaiba Industrial Co and Kuwait Foundry Co slipped 5 fils each while The Energy House ticked 2 fils lower. Yiaco Medical Co was down 5 fils at KD 0.345



She

Market heavyweight Zain closed flat at KD 0.670 off early highs whereas Wataniya Telecom shed 20 fils to close at KD 1.920. 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 shed 20 fils to wind up at KD 0.650 and the counter saw 3.7 million shares change hands. The stock is trading 40 fils lower from start of the year. Kuwait Gulf Links was unchanged at KD 0.102. The market opened firm and ticked higher in early trading. The index hit the day's highest level of 7820.33 pts and retreated thereafter as sentiment weakened. It traded mostly below the opening mark thereafter and hit the day's lowest level of 7788.81 pts in the final minutes before closing below the red



Top gainer of the day, Zimah climbed 6.41 pct to 30 fils and Ajwan Gulf Real Estate Co rose 6.25 percent to stand next. Gulf Finance Co dived over 6 pct, the steepest decliner of the day and Kuwait Business Town Real Estate Co topped the volume with 44.7 million shares. Reflecting the day's fall the losers outnumbered the gainers. 41 stocks advanced whereas 56 closed lower. Of the 142 counters active on Wednesday, 45 closed flat. 5842 deals worth KD 32.37 million were transacted - a 20.38 pct drop in value from the day before. On the upside, Independent Group Co rose 20 fils to KD 0.425 and Kuwait Cement Co gained 10 fils. Equipment Holding Co and NICBM added 4 fils each while Alargan International Real Estate Co climbed 6 fils



ALAFCO held steady at KD 0.260 and Jazeera Airways followed suit. The compant has posted a net profit KD 16.67 million and earnings per share of 39.70 fils in the year 2013, up from KD 13.94 million and earnings per share of 38.37 fils in 2012. The Board of Directors has recommended a cash dividend of 15 percent. National Industries Group vacillated in a tight before closing flat at KD 0.228 and United Industries Co followed suit. Gulf Cable fell 10 fils to KD 0.770 and United Industries Co paused at KD 0.160



Slippe

In the banking sector, National Bank of Kuwait gave up 10 fils to close at KD 0.930 after clocking a volume of over 3 million and Gulf Bank slipped 5 fils. The bank has recorded a net profit KD 32.16 million and earnings per share of 12 fils in 2013 as compared to net profit of KD 30.88 million and earnings per share of 11 fils last year. The Board of Directors has recommended a dividend of 5 % bonus shares



Commercial Bank dropped 20 fils to KD 0.760 whereas Al Ahli Bank was flat at KD 0.425 off early lows. Ahli United Bank erased 10 fils whereas Kuwait International Bank closed 5 fils higher. Burgan Bank closed flat at KD 0.560 and is up 10 fils year-to-date. Boubyan Bank climbed 10 fils to KD 0.560 and Kuwait Finance House gained 20 fils. The lender has recorded a net profit of KD 115.89 million and earnings per share of 32.69 fils in the year 2013 and the Board of Directors recommended a cash dividend of 13 % in addition to 13 % bonus shares



Kuwait Investment Co took in 2 fils and Commercial Facilities Co retreated 5 fils to end at KD 0.290. International Financial Advisers inched 1 fils up whereas KIPCO and National Investment Co closed flat. Securities House Co fell 2 fils after trading over 2 million shares.Bayan Investment Co slipped 3 fils to 95 fils and KMEFIC inched 1 fils higher. Noor Financial Investment gained 4 fils whereas Sokouk Holding Co clipped 2 fils. Al Deera Holding Co added 2 fils. The bourse has been seesawing so far during the week and has gained 48 points in the last four sessions. The price index had rebounded 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 a cash dividend of 15 %. 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 December 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.



Gulf Glass Manufacturing has posted a net profit of KD 2.005 million and earnings per share of 47.40 fils in the year ending Dec 31, 2013 as compared to KD 2.606 million profit and earnings per share of 61.61 fils in 2012. The Board of Directors has recommended a cash dividend of 30 % plus 5 % bonus shares

Aqar Real Estate Investments has earned KD 2.329 million and chalked an earnings per share 10.17 fils in the year ending Dec 31, 2013 as against KD 2.218 million profit and earnings per share of 9.64 fils in the year before. The Board of Directors has recommended a cash dividend of 5 fils

 


Arab Times




  MENA News Headlines
 Nov 27 2014 - Lebanon mourns 'songbird' SabahArab News
(MENAFN - Arab News) BEIRUT: Iconic Lebanese singer and actress Sabah died Wednesday at the age of 87 after a seven-decade career and a colorful love life that kept her in the headlines until the ...

 Nov 27 2014 - Egypt drops ban on 'adults only' filmArab News
(MENAFN - Arab News) CAIRO: An Egyptian court has revoked a government ban on a film by Lebanese star Haifa Wehbe that had been deemed sexually provocative judicial sources said on Wednesday.In April ...

 Nov 27 2014 - Saudi- Prince vanishes from social mediaArab News
(MENAFN - Arab News) NEW YORK: Prince whose distaste for the music industry's conventions is well known has abruptly disappeared from social media after tentative efforts to promote his two new ...

 Nov 27 2014 - Saudi- Cumberbatch quits smokingArab News
(MENAFN - Arab News) LONDON: 'Sherlock' star Benedict Cumberbatch has revealed he left smoking one month back.The 38-year-old actor said staying away from cigarette is helping him stay healthy ...

 Nov 27 2014 - Saudi- Dilip Kumar perfectly fine: Big BArab News
(MENAFN - Arab News) MUMBAI: Thespian Dilip Kumar is 'perfectly fine' says actor Amitabh Bachchan quashing rumors of the former's health scare.Social networking platforms were abuzz with rumors ...

 Nov 27 2014 - Saudi- Turki Khan: Changing society one step at a timeArab News
(MENAFN - Arab News) Dreams ambitions and determination have no limits dedication to those three traits can take that dreamer ambition-seeker and determined young man or woman to places he or she ...

 Nov 27 2014 - Saudi- Exploring fine art through pencilArab News
(MENAFN - Arab News) Eman Al-Qahtani is a successful talented and ambitious young Saudi artist. She combines thoughts and colors in her paintings. She has her own art method; a painting is to deliver ...

 Nov 27 2014 - Saudi- Qatar lifts 22nd Arabian Gulf CupArab News
(MENAFN - Arab News) Qatar rallied to get the better of Saudi Arabia 2-1 to win the 22nd Arabia Gulf Cup football tournament at the King Fahd International stadium in Riyadh Wednesday night.Playing ...

 Nov 27 2014 - Saudi- Al Kabeer climbs to No. 2 after honors sweep in Globe CupArab News
(MENAFN - Arab News) One mighty performance that saw Al Kabeer Frozen Foods sweep honors had the defending champion moving up the leaderboard after the eighth week in the Thursday League 12th ...

 Nov 27 2014 - Al-Taib wins Fastest Car Race 2014 in RiyadhArab News
(MENAFN - Arab News) Ahmed Al-Taib a Saudi topped the Fastest Car Race 2014 which was organized at Dirab Park racetrack in Riyadh. Al-Taib won the race in a Porsche 911 Turbo which is characterized ...

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