Quotes: US 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 eased 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%




 






  MENA News Headlines
 Jul 25 2014 - Gilas Last Home Stand that never wasArab News
(MENAFN - Arab News) E fiasco that happened on Tuesday night in what was supposed to be the first of two tune-up matches for Gilas Pilipinas against a crack NBA selection certainly left a bad taste ...

 Jul 25 2014 - Indian Tech Mahindra, Saudi Midad Holding sign dealMENAFN
(MENAFN) Indian IT giant Tech Mahindra Ltd has signed a joint venture with Midad Holding to expand its existence in Saudi Arabia, according to Arabian Business.The JV will be called Tech Mahindra ...

 Jul 25 2014 - Kuwait's Jazeera profit falls in H1MENAFN
(MENAFN) Rising fuels costs and forced rerouting of flights due to unrest in the Middle East affected the net profits of Kuwait's Jazeera Airways Group in the first half of 2014, according to Arabian ...

 Jul 25 2014 - Dubai's R&B launches two stores in SaudiMENAFN
(MENAFN) The Dubai-based giant Apparel Group's fashion arm R&B, most recognized for its exciting portfolio of international fashion and accessories brands, plans to open two stores in Dhahran and ...

 Jul 25 2014 - Adam Levine offers Knightley recording dealKhaleej Times
(MENAFN - Khaleej Times) Dam has just started a label called 222 Records and has been trying to persuade Keira to sign a deal with him the source added.Photo: AgenciesKeira Knightley has been ...

 Jul 25 2014 - Beyonce Jay Z started to go their separate waysKhaleej Times
(MENAFN - Khaleej Times) E source also added that the tour will be the last for Jay Z 44 and Beyonce 32 after marriage counsellors failed to help them get their relationship back on track.Photo: ...

 Jul 25 2014 - Casablanca piano up for sale in New York in NovemberKhaleej Times
(MENAFN - Khaleej Times) Lsons character Sam first played the song on the piano for Bogarts character Rick and Bergmans Ilsa when they fell in love in Paris as Nazi troops advanced on the French ...

 Jul 25 2014 - Im very old-fashioned: BhagyashreeKhaleej Times
(MENAFN - Khaleej Times) Ine Pyar Kiyas Bhagyashree indulges in a bit of nostalgia as she talks up her new TV series Supplied photoThe lovely and seemingly ageless Bhagyashree is probably best known ...

 Jul 25 2014 - Daily probiotics may regulate blood pressureKhaleej Times
(MENAFN - Khaleej Times) Ring the study researchers analysed results of nine high-quality studies examining blood pressure and probiotic consumption in 543 adults with normal and elevated blood ...

 Jul 25 2014 - Al-Athr showcases abstract and geometry inspired works of artArab News
(MENAFN - Arab News) Ddah's Al-Athr Gallery is hosting the abstract and geometry inspired work of 40 local and international artists until Oct. 10.The gallery opened its door in 2009 and has already ...

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