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.

 






  MENA News Headlines
 Jul 29 2014 - New additions to Local Harvest brand of datesKhaleej Times
(MENAFN - Khaleej Times) E dates come from farmers who have contracts with ADFSC and therefore practise date palm farming according to the centres standards.For the next three weeks the Abu Dhabi ...

 Jul 29 2014 - PayTabs to launch online solutions in Bahrain, SaudiMENAFN
(MENAFN) PayTabs, a payment processing solution company co-owned by Saudi Aramco, is set to launch its online payment processing solutions in Bahrain and Saudi Arabia, Gulf Daily News reported.The ...

 Jul 29 2014 - Mobily signs LTE-4G roaming deal with BatelcoMENAFN
(MENAFN) Mobily telecom has signed an LTE-4G roaming deal with Bahrini Batelco to provide customers with advanced Internet services, Arab News reported.This agreement coincides with Eid Al-Fitr ...

 Jul 29 2014 - Radiant During RamadanMuscat Daily
(MENAFN - Muscat Daily) Keep your skin and hair glowing and shiny even as you're fasting in this holy month. Some tips... Moisturise Your skin too gets dehydrated when you fast. It is ...

 Jul 29 2014 - Duqm Airport takes offMuscat Daily
(MENAFN - Muscat Daily) The newly opened Duqm Airport received its first Oman Air flight ahead of schedule on Wednesday with officials saying that the facility will serve as an air transport and ...

 Jul 29 2014 - Air fares rise by 35 as travellers rush to make the most of long breakMuscat Daily
(MENAFN - Muscat Daily) Fares of most airlines have gone up due to the increase in demand during Eid al Fitr holidays. The prices of tickets to different destinations have gone up by nearly 35 per ...

 Jul 29 2014 - MoHC invites bid for construction of $250mn Oman Cultural ComplexMuscat Daily
(MENAFN - Muscat Daily) After announcing the appointment of the UK-based international consultancy and construction company, Mace as project manager for the Oman Cultural Complex (OCC), the Ministry ...

 Jul 29 2014 - Moon sighting expected on Monday eveningMuscat Daily
(MENAFN - Muscat Daily) The crescent of the new moon is expected to be visible on Monday evening across all governorates in the sultanate, marking the beginning of the month of Shawwal, according to ...

 Jul 29 2014 - Pakistan's film industry becomes alive againArab News
(MENAFN - Arab News) HORE: A breed of brand new independent filmmakers is successfully filling the void left by an obsolete industry known as Lollywood.In many ways 2013 was an era-defining year for ...

 Jul 29 2014 - Pak-British singer faces death threats over Gaza supportArab News
(MENAFN - Arab News) NDON: Zayn Malik probably wasn't expecting the barrage of abuse he received from followers after he pledged his support for the #FreePalestine social media campaign The ...

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