Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait Bourse Retreats 18.4 Pts In Choppy Trade  Join our daily free Newsletter

MENAFN - Arab Times - 15/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Kuwait stocks pulled lower Thursday to end week on a tepid note. The key benchmark dropped 18.4 pts in choppy trade to settle at 7842.62 points. Profit taking weighed on select heavyweights and some of the mid and low caps. The market sentiment was cautious in absence of tangible cues. The KSX 15 benchmark dived 7.91 pts to 1,089.63 pts trimming the year's gains to 37 points while weighted index edged 1.77 pts lower. The volume turnover meanwhile tapered for the second straight session as investors turned wary. 243.56 million shares changed hands - a 9.75 pct fall from Wednesday



The sectors closed mostly in the red. Insurance outshone the rest with 0.80 percent upswing whereas oil and gas slumped 1.18 percent, the worst performer of the day. Volume wise, financial services accounted for the highest market share of 40.43 percent and real estate came in next with 37.52 percent contribution. Among the notable movers , Combined Group Contracting Co tumbled 40 fils to KD 1.180 while Gulf Glass Manufacturing Co shed 20 fils. Gulf Cables was down 10 fils at KD 0.790 and ACICO Industries followed suit to settle at KD 0.280 with razor thin trading volume. Yiaco Medicals slipped 10 fils and Kout Food Group skidded 50 fils to close at KDD 0.740. The company has posted a net profit of KD 5.40 million and earnings per share of 74 fils in the year ended Dec 31, 2013, as compared to profit of KD 4.36 million and earnings per share of 60 fils in the year before. The Board of Directors has recommended a cash dividend of 30 pct or 30 fils per share



Bucke

Bourse major Zain fell 10 fils to KD 0.680 erasing the gains in the previous session whereas Wataniya Telecom bucked the trend to gain 20 fils. Agility too rose 10 fils on back of over 5 million shares to wind up at KD 0.660 . The stock has added 20 fils during the month and but has shed 30 fils year-to-date.

The market opened weak and drifted lower in early trading. The index moved sideways thereafter as sentiment turned brittle and troughed at 7,823.31 pts in the second half. However it managed to pare back some of the losses at close.

Top gainer of the day, Wethaq Takaful Insurance Co climbed 6.85 pct to 78 fils while Marakez rose 5.26 to stand next. Pearl of Kuwait slid 8.93 percent, the steepest decliner of the day and Investors Holding Group topped the volume with 18.76 million shares.

Reflecting the day's decline, the market spread was skewed towards the losers. 37 stocks advanced whereas 65 closed lower. Of the 161 counters active on Thursday 59 closed flat. 5728 deals worth KD 32.01 million were transacted - a 9.87 pct drop from the day before.

National Industries Group fell 2 fils to KD 0.238 extending the loss in the previous session and Kuwait Cement Co was down 5 fils at KD 0.380. Independent Petroleum Group pulled 10 fils lower to end at KD 0.415





ALAFCO eased 5 fils whereas Jazeera Airways closed flat at KD 0.495. The company has posted a net profit KD 16.67 million and earnings per share of 39.70 fils in the year 2013 and the Board of Directors has recommended a cash dividend of 15 percent.

Kuwait Portland Cement was steady at KD 1.380 and RISCO followed suit. The company 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 Gulf Links was unchanged at 100 fils whereas United Industries Co ticked 2 fils higher. The company has posted a net profit of KD 28.08 million and earnings per share of 62.70 fils in the year ending Jan 31, 2013. The Board of Directors has recommended a cash dividend of 25%



Ros

On the upside, Kuwait Food Co ( Americana) rose 20 fils to KD 2.520 and Kuwait Resorts Co was up 4 fils at KD 0.104. Burgan Well Drilling Co and NICBM took in 2 fils each.

Salhia Real Estate Co gained 10 fils and Tamdeen Real Estate Co added 5 fils.

Mabanee Company closed flat at KD 1.160. has earned KD 47.91 million and chalked an earnings per share of 68.47 fils in 2013. The Board of Directors has recommended a cash dividend of 25% in addition to 5% bonus shares.

In the banking sector, National Bank of Kuwait fell 10 fils to KD 0.950 whereas Gulf Bank and Commercial Bank of Kuwait were unchanged at KD 0.360 and KD 0.760 respectively whereas Al Ahli Bank eased 5 fils to KD 0.440 erasing the gains in the day before. Ahli United Bank added 10 fils to end at KD 0.750.

Kuwait International Bank rose 5 fils whereas Burgan Bank paused at KD 0.570 with a volume of 1.8 million shares. Kuwait Finance House dropped 10 fils to KD 0.830 paring the month's gains to 30 fils whereas Boubyan Bank closed flat.

Kuwait Investment Co and National Investment Co slipped 2 fils each whereas KIPCO was unchanged at KD 0.660 . International Financial Advisers stagnated at 87 fils and Bayan Investment Co ticked 2 fils higher



The bourse showed a mixed trend during the week. It closed higher in three of the five sessions and added 10 fils week-on-week. The price index is up 87 points from start of the month and is trading over 3.88 pct higher year-to-date. 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 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



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

Al-Mazaya Holding has logged a net profit of over KD 6 million and earnings per share of 10.27 fils in the year 2013 surging from KD 290,553 million profit and earnings per share of 0.50 fils during last year. The Board of Directors has recommended a dividend of 6% bonus shares

 


Arab Times




  MENA News Headlines
 Jan 31 2015 - Vodafone Qatar revenue up 21 percent in 9MMENAFN
(MENAFN) Vodafone Qatar's said its total revenue grew by 21 percent to USD474.59 billion for the nine months ended December 31, 2014, The Peninsula Qatar reported.The company's mobile customer base ...

 Jan 31 2015 - Qatar Airways to acquire 10 percent of IAGMENAFN
(MENAFN) Qatar Airways announced that it has bought nearly 10 percent of the parent company of British Airways and Spain's Iberia, deepening wealthy Qatar's business ties to Europe, Arab News ...

 Jan 31 2015 - Saudi RCJY signs three deals worth USD138.25mMENAFN
(MENAFN) Chairman of the Royal Commission for Jubail and Yanbu (RCJY) signed three contracts worth USD138.25 million to provide essential equipment and develop industrial zones, Arab News ...

 Jan 31 2015 - Saudi- Outspoken prince to launch pan-Arab news channelThe Peninsula
(MENAFN - The Peninsula) An outspoken, billionaire Saudi prince will on Sunday launch a pan-Arab satellite news channel aimed at challenging established networks in the region.Prince Alwaleed bin ...

 Jan 31 2015 - Qaeda in Yemen says France top enemyThe Peninsula
(MENAFN - The Peninsula) The ideological leader of Yemen-based Al-Qaeda in the Arabian Peninsula (AQAP) said Friday that France had surpassed the United States as the top enemy of Islam.With the ...

 Jan 31 2015 - Qaeda group launches assault on Western-backed Syria rebelsThe Peninsula
(MENAFN - The Peninsula) Al-Qaeda's affiliate in Syria battled Western-backed rebels Friday as the jihadists pressed their bid to seize control of northern areas, a monitoring group and rebels ...

 Jan 31 2015 - Iraq- Air strike kills IS 'chemical weapons expert'The Peninsula
(MENAFN - The Peninsula) A US-led coalition air strike killed a chemical weapons specialist with the Islamic State group in Iraq who once worked for Saddam Hussein, US military officers said ...

 Jan 31 2015 - FM honours Qatari missionsThe Peninsula
(MENAFN - The Peninsula) The second annual general meeting of heads of Qatar's diplomatic, consular and representative missions abroad ended in the presence of the Foreign Minister H E Dr Khalid bin ...

 Jan 31 2015 - Qatar- Demand for books declines as craze for movies risesThe Peninsula
(MENAFN - The Peninsula) The charm of printed words is fading away in Qatar and the craze for movies is peaking, according to report released by the Ministry of Development Planning and ...

 Jan 31 2015 - Qatar- HBKU hosts graduate students from USThe Peninsula
(MENAFN - The Peninsula) Hamad Bin Khalifa University (HBKU), a member of Qatar Foundation for Education, Science and Community Development (QF), hosted 25 faculty, staff and graduate students from ...

more...


 






Google

Electronic & Mobile Payment

 
 

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