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

Kuwait mkt extends gains to fourth day  Join our daily free Newsletter

MENAFN - Arab Times - 09/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Kuwait stocks closed higher Monday extending the gains to fourth straight session. The price index climbed 16.73 pts to 7599.95 points in lackluster trading helped by moderate gains by banks. Some of the other blue chips too nudged higher even as the sentiment remained cautious. The KSX 15 benchmark rallied 9.58 points to hit a fresh high of 1228.47 pts and taking the month's gain to 53 points while weighted index rose 4.82 points. The volume turnover meanwhile slipped for the fourth straight session. 187.28 million shares changed hands - a 3.95 pct fall from Sunday. Unlike the regional peers, KSE has been trending listlessly in recent weeks as the surge in large caps has been offset by slump in small caps



The sectors closed mostly in the positive territory. Banks outshone the peers with 1.32 pct upswing whereas consumer services eased 0.11 percent, the worst performer of the day. In terms of volume, financial services saw brisk trading and accounted for a market share of over 50 percent while real estate and banks followed with 21.22 pct and 10.37 percent respectively. Among the notable movers, Commercial Bank rallied 50 fils as investors continue to pile on the stock following the lender's decision to turn into a Islamic bank. National Bank of Kuwait climbed 10 fils on back of 2.76 million shares and Kuwait Finance House followed suit to close at KD 0.89



Kuwait Food Co ( Americana) rose 20 fils to KD 2.680 taking the month's gain to 140 fils while National Industries Group was up 10 fils on back of 6.44 million shares. United Projects Co and Gulf Cables too added 10 fils each and Jazeera Airways nudged 5 fils to wind up at KD 0.465. Telecom major Zain was unchanged at KD 0.700 off early lows and the counter saw 3.7 million shares change hands while Wataniya Telecom gained 20 fils to close at KD 1.920 . Agility rose 20 fils on back of 8.88 million shares taking the year-to-date gains to 120 fils.



Wea

The market opened weak and edged lower in early trading. The index hit the day's lowest level of 7571.54 points and ticked up before moving flat along the opening mark as sentiment remained tepid. It slipped gain the second half and managed to claw back into green at close. Top gainer of the day, Noor Financial Investment Co climbed 6.94 pct to KD 0.154 and Al Massaleh Real Estate Co was close behind with 6.41 pct rise. National Consumer Holding Company tanked 22.39 pct, the steepest decliner of the day and Gulf Finance House topped the volume with 16.86 million shares. Reflecting the day's gain, the market spread was heavily skewed towards the winners. 63 stocks advanced whereas 36 closed lower. Of the 144 counters active on Monday, 45 closed flat. 4799 deals worth KD 34.83 million were transacted - a 17.32 percent jump in value from the day before.



Yiaco Medical Co rose 5 fils and ACICO Industries Co followed suit to end at KD 0.320. KGL Logistics Co was up 6 fils on back of 1.24 million shares. Humansoft Holding Co climbed 15 fils to KD 0.390. On the downside, Kuwait Portland Cement dived 80 fils to KD 1.300 while NICBM edged 2 fils lower. The company has logged a net profit of KD 512,572 and earnings per share of 1.48 fils in the year ending Dec 31, 2013, sharply down from KD 5.02 million profit and earnings per share of 14.55 fils in the year before. The Board of Directors recommended no dividend payout for the Fiscal Year. ALAFCO was flat at KD 0.260 off early lows and Automated Systems Co too did not budge from its earlier close of KD 0.475 . The company has posted a net profit of KD 1.48 million and earnings per share of 37.17 fils in the year ending 2013 as against net profit of KD 4.04 million and earnings per share of 101.08 fils in the year before period



Fel

Tamdeen Real Estate fell 5 fils to KD 0.260 whereas National Real Estate took in 2 fils. The company has posted a net profit of KD 15.34 million and earnings per share of 18.86 fils in 2013 and the Board of Directors has recommended 5% bonus shares. Mazaya Holding Co added 2 fils and Union Real Estate Co was up 6 fils at KD 0.144. KAMCO fell 10 fils to KD 0.118 and KIPCO too was down by same measure. Sokouk Holding flunked 2 fils. The company has logged a net profit of KD 18.22 million earnings per share of 35 fils in 2013 and the Board of Directors has recommended a dividend of 5% bonus shares. Kuwait Financial Centre gained 8 fils while Securities Group and Securities House were up 2 fils each. In the banking sector, Gulf Bank rose 10 fils and Ahli United Bank was up by same measure to close at KD 0.760. Al Ahli Bank and Burgan Bank too gained 10 fils each whereas Kuwait International Bank was unchanged at KD 0.305. Boubyan Bank held steady at KD 0.510 off early lows



Kuwait Investment Co and National Investment Co rose 2 fils each and Aayan Leasing and Investment Co too was up by same measure. Osoul Investment Co was flat at 79 fils and Bayan Investment Co followed suit to close at 98 fils. The bourse has been slightly positive so far during the week and has added 27 points in last two sessions . The price index is down 27 pts from start of the month and is trading 0.67 pct higher year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region. In the bourse related news, 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.



Egypt Kuwait Holding The company has registered a net profit of KD 20.167 million and earnings per share of 24.02 fils in the year ending December 31, 2013, up from KD 18,9 million profit and earnings per share of 22.54 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
 Oct 26 2014 - Egypt- OIC strongly condemns terrorist attack in SinaiKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Organization of Islamic Cooperation (OIC) strongly condemned Saturday the terrorist attack that targeted a security checkpoint of the Egyptian Army in Sinai ...

 Oct 26 2014 - Military airstrikes continue against ISIL in Syria, Iraq - CENTCOMKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) US military forces continued attacks against ISIL terrorists in Syria and Iraq Friday and Saturday, launching 23 airstrikes in total, said US Central Command ...

 Oct 26 2014 - Global oil USD 25 decline will cause GDP eight pct drop for GCC - IMF's LagardeKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) International Monetary Fund chief Christine Lagarde warned on Saturday that a sustained USD 25 decline in global oil prices presents GCC states with a reduction ...

 Oct 26 2014 - Bashir named as NCP's candidate to run for elections in AprilKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Sudanese President Omar Al Bashir was named as the leader of the ruling National Congress Party (NCP) in its conference held Saturday night, which also approved ...

 Oct 26 2014 - GCC condemns terrorist attacks in SinaiKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) GCC Secretary General Dr. Abdulateef Al-Zayani strongly condemned Saturday the terrorist attacks that occurred in Sinai yesterday, which killed a number of ...

 Oct 26 2014 - Lebanese Tadamon beats Kuwait's Qadsia 85-60 in int'l basketball tournamentKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Lebanese Tadamon basketball team Saturday beat Qadsia 85-60 in the opener of an international championship hosted by the Kuwaiti team, which would last until ...

 Oct 26 2014 - Prince Saud Al-Faisal meets US envoy Allen in RiyadhKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Saudi Arabia's Foreign Minister Prince Saud Al-Faisal Saturday met with the US special envoy for the global coalition countering ISIL, General John Allen, and the ...

 Oct 26 2014 - Turkey to combat antiquities smuggling from Iraq, Syria - CelikKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Turkey's security authorities are coordinating efforts to report any antiquities smuggled from Iraqi and Syria to museums or collectors, Minister of Culture and ...

 Oct 26 2014 - Kuwait- S. American, European semi-finals for Futsal Continental CupKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Argentina, Brazil, Czech Republic and Italy all made it through to the semi-final of the Kuwait-hosted 2014 Futsal Continental Cup as the home side bid farewell ...

 Oct 26 2014 - Egypt's FM instructs envoys to inform world of "terrorist incident"Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Egyptian Foreign Minister Sameh Shoukry Saturday instructed his aides and ambassadors to inform the world of Friday's bombs that hit Egypt's North Sinai, which ...

more...


 






Google

Click to Apply

 
 

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