Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait edges higher in lackluster trading   Join our daily free Newsletter

MENAFN - Arab Times - 25/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Kuwait stocks pulled higher Monday, recouping the losses in the previous session. The index climbed 11.6 points in lackluster trade helped by speculative buying in small and mid caps. Agility shined after posting impressive 2013 results whereas banks mostly edged lower. The KSX 15 measure slipped 8.62 points to 1139.87 pts trimming the year's gains to 88 points while weighted index fell 2.67 pts. The volume turnover rebounded after falling sharply on Monday. 185.93 million shares changed hands - a 33.43 percent rise from the day before. The bourse was upbeat during last week as investors reacted positively to the easing stance of CMA over implementing the new corporate rules.



The sectors closed mixed. Consumer services outshone the peers with 1.95 percent rally whereas parallel market slid 0.57 percent, the worst performer of the day. In terms of volume, financial services notched the highest market share of 35.55 pct while real estate came next with 30.72 percent. Industrials was a distant third with 12.76 percent contribution. Among the prime movers, Kout Food Group spiked 50 fils to KD 0.780 and NAPESCO climbed 40 fils with thin trading. Al Nawadi Holding Co rose 10 fils and Yiaco Medical Co was up 10 fils at KD 0.345. Kuwait Resorts Co added 4 fils on back of 9.6 million shares. National Industries Group took in 2 fils to settle at KD 0.242 and Metal and Recycling Co followed suit. Kuwait Foundry Co climbed 5 fils to KD 0.350 and Equipment Holding Co was up 4 fils at KD 0.160.



Rallie

Agility rallied 50 fils on back of over 12 million shares. The company has recorded a net profit of KD 46.20 million and earnings per share of 44.28 fils, up from KD 33.69 million profit and earnings per share of 32.21 fils in the year before. The Board of Directors has recommended a cash dividend of: 40 % plus 5 % bonus shares. Zain retreated 10 fils while Wataniya Telecom gained 20 fils to wind up at KD 1.880 and the stock is trading 40 fils higher from start of the month. The market opened flat and slipped lower in early trading. The index drifted a narrow range past the mid-session amid selling in select counters and hit the day's lowest level of 7,525.51 pts before clawing back into green zone in the final minutes. Top gainer of the day, Al Nawadi rallied 8.77 percent to KD 0.124 and Agility climbed 7.35 percent to stand next. NCCI dived 8.77 percent, the steepest decliner of the day, and Gulf Finance House topped the volume with over 15 million shares.



Despite the day's uptick, the losers outnumbered the gainers. 56 stocks advanced whereas 65 closed lower. Of the 166 counters active on Monday, 45 closed flat. 4477 deals worth KD 29.14 million were transacted - a 50.24 percent jump in value from the day before. Noor Financial Investment Co rose 4 fils whereas Kuwait and Middle East Finance Investment Company edged 2 fils lower. The company has logged a net profit of KD 1.160 million and earnings per share of 4.4 fils in 2013, as compared to KD 1.164 million loss and loss per share of 4.5 fils in the previous year.



On the downside, Mabanee Co shed 20 fils, erasing the gains on Sunday and Gulf Cable pulled 10 fils lower to KD 0.780. RISCO ease 5 fils and ACICO Industries too was down by same measure. Kuwait Food Co (Americana) shed 20 fils to end at KD 2.460 and has retreated 40 fils from start of the month.


ALAFCO rose 5 fils to KD 0.255 whereas Al Jazeera Airways gave up 15 fils top end at KD 0.450. 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





Slippe

Kuwait Resorts Co was up 4 fils on back of 9.6 million shares whereas IFA Hotels and Resorts slipped 19 fils. United Industries Co and Boubyan Petrochemicals Co closed flat while Kuwait Gulf Links and Kuwait Cable Vision Co slipped 1 fils each. Future Communication Co Global dropped 10 fils to KD 0.168 United Projects Group gave up 20 fils to settle at KD 0.770. In the banking sector, National Bank of Kuwait fell 20 fils to KD 1.000 erasing the gains on Sunday whereas Gulf Bank was up 5 fils at KD 0.360. Commercial Bank of Kuwait dived 30 fils to KD 0.740 and is down 10 fils so far during the month while Al Ahli Bank eased 5 fils.



Kuwait International Bank gained 5 fils whereas Kuwait Finance House slumped 30 fils and clocked a volume of 2.4 million shares. 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. Burgan Bank climbed 10 fils to KD 0.550 whereas Boubyan Bank and Ahli United Bank held the ground steady at KD 0.510 and KD 0.750 respectively. National Investment Co and Kuwait Investment Co fell 2 fils each whereas KIPCO closed flat.



The bourse has been mixed so far during the week and has eased 3 points fin last two sessions. The main index has shed 138 pts from start of the month and is up 0.06 pct year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region. In the bourse related news, Kuwait Cement has registered a net profit of KD 17.16 million and earnings per share of 26.14 fils in the year ending Dec 31, 2013, as against KD 14.78 million profit and earnings per share of 23.74 fils in the year before. The Board of Directors has recommended a cash dividend of 18%. Al Madar Finance and Investment has recorded a net profit of KD 3.58 million and earnings per share of 17.34 fils in 2013, rebounding from KD 7,60 million loss and loss per share of 36.73 fils in the previous year.



Strategia Investment has posted a net profit KD 3.36 million and earnings per share of 13.75 fils in 2013, rebounding sharply from KD 10,514 profit and earnings per share of 0.07 fils in the year before. Kuwait Pipes Industries and Oil Services has incurred a net loss of KD 10.16 million and loss per share of 45.10 fils in the nine-month period ending 30 Sept 2013, widening from KD 3.21 million loss and loss per share of 14.25 fils in the same period last year. 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%




 


Arab Times




  MENA News Headlines
 Feb 10 2016 - Turkish PM warns Russia by recalling Soviet invasion of AfghanistanThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Prime MinisterAhmet Davutoluhas warnedRussiaover the possible consequences of its moves in neighboring Syria suggesting they might be about to become mired in ...

 Feb 10 2016 - EU Calls on Israel to Stop Home Demolitions Settlement ExpansionThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The European Union on Saturday called on Israel to stop demolishing Palestinian homes in the occupied West Bank and reiterated “the EU’s firm ...

 Feb 10 2016 - Swiss discuss humanitarian issues with Assad regimeThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) For three years Switzerland has been dealing directly with the Syrian regime of Bashar al-Assad concerning the humanitarian situation in the war-ravaged ...

 Feb 10 2016 - Turkey- Experts rule out impending Israeli onslaught on GazaThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Many Palestinian political analysts have ruled out that Israel is likely to launch a new war on the Gaza Strip due to what they described by "political ...

 Feb 10 2016 - UK underestimates number of young deported to war zonesThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) More than 2700 young asylum seekers were deported from the U.K. to the war-torn countries they left as children in recent years according to revised figures ...

 Feb 10 2016 - UAE- WorldGovSummit Mohammed bin Rashid receives mayors and representatives of participating Arab and Foreign citiesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 10th February 2016 (WAM) -- Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum today received at ...

 Feb 10 2016 - Swiss Tourism reviews co operation with travel and tourism sector in Abu DhabiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 10th February 2016 (WAM)Swiss Tourism in the Gulf Cooperation Council GCC has held a workshop at the St. Regis Hotel Abu Dhabi to meet with travel ...

 Feb 10 2016 - UAE- WorldGovSummit DEWA wins best m Government Award in environment category at World Government SummitEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 10th February 2016 (WAM) -- Dubai Electricity and Water Authority DEWA has won the Best m-Government Service Award in the environment category which ...

 Feb 10 2016 - UAE- EAU receives NQA Qualifications RecognitionEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 10th February 2016 (WAM) -- Emirates Aviation University EAU has received recognition of its qualifications from the National Qualifications Authority ...

 Feb 10 2016 - UAE- Knowledge Without Borders to launch a new cultural initiative next MondayEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) SHARJAH 10th February 2016 (WAM) -- Knowledge Without Borders KWB will announce next Monday the launch of a new cultural initiative in line with 2016 being ...

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