Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait stocks extend retreat volume drops  Join our daily free Newsletter

MENAFN - Arab Times - 17/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Kuwait stocks sagged Sunday extending the decline for the second straight day. The index gave up slight early gains to close 10.23 pts lower at 7,832.39 pts. Some of the banks and low priced stocks shined whereas other heavyweights closed mostly in the green.



The KSX 15 benchmark rose 6.52 percent 1,096.15 points taking the year's gains to 44 pts whereas the weighted index edged 1.44 pct up. The volume turnover receded for the third consecutive day. 237.052 million shares changed hands - a 2.67 pct fall from the day before



The sectors closed narrowly mixed. Telecommunication outperformed the rest with 2.38 pct rally whereas basic materials shed 1.68 pct - the biggest loser of the day. In terms of volume, financial services garnered the highest market share of 42.46 pct while real estate came next with 31.66 pct. Industrials was a distant third with 12.99 percent contribution



Among the day's movers, Kuwait Foundry Co skidded 25 fils to KD 0.350 while Kuwait National Cinema dived 60 fils. Kuwait Food Co (Americana) shed 20 fils while Combined Group Co dipped 40 fils extending an identical loss in the previous session.



Kuwait Hotels Co slipped 10 fils and IFA Hotels and Resorts was down by same measure. Automated Systems Co and United Industries Co fell 10 fils each while Equipment Holding Co gave up 6 fils to close at KD 0.158.



Bourse heavyweight Zain rose 10 fils to KD 0.690 on back of 2.55 million shares while Wataniya Telecom soared 80 fils extending the gains in the day before. Agility was up 10 fils at KD 0.670 taking the month's gain to 30 fils



Dul



The market opened on dull note and moved sideways in early trade. The index rose briefly to hit the day's highest level of 7,866.76 pts and retreated thereafter as sentiment turned weak . It resumed flat trading in the second half and troughed at 7,809.22 pts in the final minutes before trimming some of the losses at close.



Top gainer of the day, ACICO climbed 7.14 pct to KD 0.300 and Future Communication rose 6.58 percent to stand next. Tahssilat slid 8.93 percent, the steepest decliner of the day while Al Dar National Real Estate Co topped the volume with over 23 million shares.



Mirroring the day's fall, the losers outnumbered the winners. 50 stocks advanced whereas 59 closed lower. Of the 156 counters active on Sunday, 47 closed flat. 5,440 deals worth 26.47 million were transacted - a 17.31 pct drop in value from the day before



On the upside, Kout Food Group vaulted 40 fils while Independent Group rose 10 fils. The company has posted a net profit of KD 6.075 million and earnings per share of 42 fils in the year ending 2013, up from KD 5.836 million profit and earnings per share of 40.35 fils in the year before period. The Board of Directors has recommended a cash dividend of cash 30%



National Industries Group added 4 fils after slipping slightly into red in the previous session and Gulf Cable gained 10 fils. Zima Holding climbed 10 fils and Al Nawadi rose 8 fils to KD 0.130. Kuwait Gulf Links ticked 2 fils higher.



Metal And Recycling Co was flat at KD 0.134 and Kuwait Portland Cement followed suit. The company has recorded a net profit of KD 7.85 million and earnings per share of 86.37 fils in 2013, up from KD 7.28 million profit and 80.13 fils EPS in the same period last year. The Board of Directors recommended a cash dividend of 85%



In the banking sector, National Bank of Kuwait gained 10 fils whereas Gulf Bank stagnated at KD 0.360 off early lows. 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 share



Losse



Commercial Bank of Kuwait was unchanged at KD 0.760 while Al Ahli Bank was up 5 fils adding to the gains in the last session. Ahli United Bank fell 10 fils to KD 0.740. Kuwait International Bank recouped slight early losses to close at KD 0.300



Burgan Bank retreated 10 fils to KD 0.560 whereas Kuwait Finance House rose 10 fils on back of 1.46 million shares and is trading 40 fils higher from start of the month. Boubyan Bank was unchanged at KD 0.560



Kuwait Investment Co slipped 4 fils to KD 0.166 and International Financial Advisers inched 1 fil up and National Investment Co was up 2 fils higher. KIPCO shed 10 fils and Securities Group eased 2 fils to end at 102 fils.



Bayan Investment climbed 4 fils on back of 5.5 million shares whereas Securities Group shed 8 fils. The company has posted a 9-month net profit of KD 4.18 million and earning per share of 16.42 fils in the 9 months periods ending Dec 31, 2013 rebounding from net loss of KD 5.87 million and loss per share of 23.05 fils in the same period last year



National Real Estate Co and Al Mazaya Holding fell 2 fils each whereas Mabanee Co held the ground steady at KD 1.160. Real Estate Trade Centers Co was down 4 fils at 56 fils.



The bourse seesawed during last week. It closed higher in three of the five sessions and rose 10 fils week-on-week. The price index is up 77 points from start of the month and is trading over 3.75 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



Real Estate Asset Management has posted a net profit of KD 591,696 and earnings per share of 5.69 fils in 2013 as compared to KD 673,099 profit and 6.47 fils EPS in the year before. The Board of Directors has recommended a cash dividend payout of 5 pct.

 


Arab Times




  MENA News Headlines
 Sep 17 2014 - Kuwait Stock Exchange Closes on Green NoteQatar News Agency
(MENAFN - QNA) Main indices of the Kuwait Stock Exchange ended trading Wednesday in the green zone with the weighted, the price, and the KSX 15 indices up by 1.39, 14.07, and 5.63 points ...

 Sep 17 2014 - HE Assistant FM Receives Copy of Vietnamese Ambassador's CredentialsQatar News Agency
(MENAFN - QNA) HE Assistant Foreign Minister for Foreign Affairs Mohammed bin Abdullah Al Rumaihi on Wednesday received a copy of the credentials of Nguyen Hoang as ambassador of the Socialist ...

 Sep 17 2014 - HE Prime Minister Meets Chubu Electric Power ChairmanQatar News Agency
(MENAFN - QNA) HE Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa Al-Thani on Wednesday met with Toshio Mita, chairman of Chubu Electric Power company on the occasion of ...

 Sep 17 2014 - Italian President Receives Message from Kuwait's EmirQatar News Agency
(MENAFN - QNA) Italian President Giorgio Napolitano received a message from Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah pertaining to bilateral relations between the two ...

 Sep 17 2014 - US Vice President Ukrainian Prime Minister Discuss Minsk AgreementQatar News Agency
(MENAFN - Qatar News Agency) Moscow September 17 (QNA) - Russia and eastern Ukrainian independence fighters should fully observe provisions of the Minsk ceasefire agreement US Vice President Joe ...

 Sep 17 2014 - HE Minister of Culture Arts and Heritage Meets US AmbassadorQatar News Agency
(MENAFN - Qatar News Agency) Doha September 15 (QNA) - HE the Minister of Culture Arts and Heritage Dr. Hamad bin Abdulaziz Al Kuwari met here Monday with HE US Ambassador to Qatar Dana Shell Smith. ...

 Sep 17 2014 - 52 Taliban Militants Killed During CounterTerrorism OperationsQatar News Agency
(MENAFN - Qatar News Agency) Kabul September 15 (QNA) - At least 52 Taliban militants were killed following joint clearing operations by Afghan national security forces in various provinces of the ...

 Sep 17 2014 - One Policeman Killed Two Injured in Pakistan's militant attackQatar News Agency
(MENAFN - Qatar News Agency) Islamabad September 15 (QNA) - A policeman was killed and two others sustained injuries when unknown militants launched an attack on Tal Police Station on Monday morning. ...

 Sep 17 2014 - US Drone Strike Kills Seven on PakAfghan BorderQatar News Agency
(MENAFN - Qatar News Agency) Islamabad September 14 (QNA) - Seven suspected militants including two key commanders of Badr Mansoor group have been killed in a US drone strike according to Pakistan ...

 Sep 17 2014 - ISIS United Iraq Country's Deputy Prime Minister SaysQatar News Agency
(MENAFN - Qatar News Agency) Baghdad September 14 (QNA) - Iraq's Deputy Prime Minister Hoshyar Zebari said Sunday that ISIS organization has united the country rather than divide it. He said that ...

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

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