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
 May 1 2016 - Middle East aims Arab tourists despite fall in visitor numbersMENAFN
(MENAFN) Middle East nations are targeting Arabs, particularly from the Gulf, whereas many visitors remain cautious on visiting the region with war in Iraq and Syria.Moreover, Egypt saw a 40 percent ...

 May 1 2016 - Oman to build oil storage near Duqm port at USD 300mnMENAFN
(MENAFN) Oman aims to build a main oil storage terminal on its southeastern coast, spending between USD 300 and 400mn of the first phase.Moreover, it will be built by a subsidiary of state-owned Oman ...

 May 1 2016 - King Abdullah Port to boost economy in KSAMENAFN
(MENAFN) King Abdullah Port will play an important role in pushing the economy and specifically the trade in Saudi Arabia.Additionally, the port acts like a barometer and a catalyst for the growth of ...

 May 1 2016 - Bahrain to benefit from Jordan's health sectorMENAFN
(MENAFN) Bahrain affirmed keenness to benefit from Jordan's health legislation expertise and to start mega health projects in cooperation with Jordan.Furthermore, the Bahraini lawmakers discussed ...

 May 1 2016 - Dubai to build new bridge at Jebel Ali Zone at USD 28.58mnMENAFN
(MENAFN) Dubai will build a new bridge project which will link the South and North of Jebel Ali Zone.Moreover, the project which will be undertaken in cooperation with the Jebel Ali Zone will cost ...

 May 1 2016 - Qatar's Ezdan Holding net profit grows 12 percent in Q1MENAFN
(MENAFN) Real Estate Ezdan Holding Group posted a net profit of USD 160.82mn for Q1 of 2016, up 12 percent compared to USD 143.39mn posted last year.Moreover, the group is working to issue USD 2bn ...

 May 1 2016 - Yemen foes hold 'productive' direct talks on key issues: UNThe Peninsula
(MENAFN - The Peninsula) Yemen's United Nations envoy Ismail Ould Cheikh Ahmed arrives for a press conference at the ministery of information in Kuwait City on April 30 2016. Yemen's warring parties ...

 May 1 2016 - Arab League Council to hold emergency meeting at Qatar's request on Wednesday to discuss situation in AleppoThe Peninsula
(MENAFN - The Peninsula) Cairo: The General Secretariat of the Arab League has decided holding of an emergency meeting of Arab League Council at the level of permanent delegates on Wednesday ...

 May 1 2016 - Prospects for Syria political solution 'in danger': opposition chiefThe Peninsula
(MENAFN - The Peninsula) President of the National Coalition for Syrian Revolutionary and Opposition Forces Anas Al Abdeh (C) attend the 28th general meeting of Syrian Opposition and the National ...

 May 1 2016 - Qatar- Iraq forces in major offensive on Islamic State-held townThe Peninsula
(MENAFN - The Peninsula) Iraqi pro-government forces and Shiite fighters from the Popular Mobilisation units hold position on April 30 2016 as they launch an operation to retake the town of al-Bashir ...

 May 1 2016 - 'Enterprise Challenge Qatar' winners honouredThe Peninsula
(MENAFN - The Peninsula) DOHA: The ‘Enterprise Challenge Qatar’ 2016 a competition to develop the spirit of entrepreneurship among young people has recognised the winners of the Schools ...

 May 1 2016 - Qatar takes part in Quran recitation and memorisation contest in MalaysiaThe Peninsula
(MENAFN - The Peninsula) Doha: Qatar is participating in the 58th International Al Quran Recitation and Memorisation Assembly in Malaysia represented by Reciter Al Numan Imran Abdul Hamid who is ...

 May 1 2016 - Qatar's contributions to Sudan's economic stability praisedThe Peninsula
(MENAFN - The Peninsula) Khartoum: Sudanese Minister of Investment Mudesir Abdul-Ghani yesterday hailed Qatar’s contributions to achieving economic stability in Sudan. Abdul-Ghani told the ...

 May 1 2016 - Qatar- Ashghal to open two permanent lanes on Mesaieed Road 1 and divert trafficThe Peninsula
(MENAFN - The Peninsula) Doha: The Public Works Authority (Ashghal) will open two permanent lanes that are 2.5km long on Mesaieed 1 Road which is the link road between Hamad Port and the ...

 May 1 2016 - 102 Qataris gain leadership skillsThe Peninsula
(MENAFN - The Peninsula) H E Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani Chairperson Board of Directors QLC and Minister of State for Defence Affairs and Vice Chair QLC Board with Qatari ...

 May 1 2016 - Qatar- Katara to train SU-Q studentsThe Peninsula
(MENAFN - The Peninsula) Dr Khalid bin Ibrahim Al Sulaiti (right) General Manager Cultural Village Foundation and Dr Ivan Ninov Executive Dean Stenden University Qatar after the signing ceremony held ...

 May 1 2016 - Qatar- HBKU Press unveils QScience Collections to boost researchThe Peninsula
(MENAFN - The Peninsula) Doha: QScience.com the online open access platform of HBKU Press is providing a new service that helps increase the impact of published articles. QScience Collections is a ...

 May 1 2016 - Qatar- Ooredoo tv includes MBC Pro Sports HD channels with Saudi Premier League coverageThe Peninsula
(MENAFN - The Peninsula) Doha: Ooredoo’s innovative new entertainment service Ooredoo tv has launched the ‘MBC Pro Sports HD’ catalogue enabling viewers to access four new channels. ...

 May 1 2016 - Qatar- Marine environment reviewedThe Peninsula
(MENAFN - The Peninsula) Doha: The Ministry of Municipality and Environment hosted a Meeting of the Steering Committee of the Marine Environmental High Risk Areas (MEHRAs) and Place of Refuge Project ...

 May 1 2016 - Qatar- Canadian journalist to speak at NU-Q graduation ceremony todayThe Peninsula
(MENAFN - The Peninsula) Renowned Canadian journalist Lyse Doucet will be the commencement speaker at its 2016 graduation ceremony. DOHA: Northwestern University in Qatar (NU-Q) will welcome ...

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