Quotes: 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 netrofit 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
 Jul 26 2016 - A mouth full of crickets? Lobbyists speak up for edible insectsThe Peninsula
(MENAFN - The Peninsula) By Bradley Saacks At the Oyamel Cocina Mexicana in Washington, metal butterfly mobiles hang from the ceiling and bugs are on the menu. The chapulines tacos are jammed ...

 Jul 26 2016 - Damac's AIPO villas totally sold outMENAFN
(MENAFN) Damac Properties announced that villas in its Akoya Imagine Phase One Dubai, has been sold out, and said that the launch of the second phase is to set to start by the end of July.In detail, ...

 Jul 26 2016 - Sales of European cars in Egypt is led by Opel AstraMENAFN
(MENAFN) A report by Daily News Egypt has stated that, Opel Astra has kept its position leading sales of European cars in Egypt in Q1, registering sales of 1,776 units worth USD 49.5m.Additionally, ...

 Jul 26 2016 - TDIC picks Jawaher Saadiyat for Al Jaber building projectMENAFN
(MENAFN) Abu Dhabi-based Tourism Development & Investment Company (TDIC) has chosen Jawaher Saadiyat, a residential community, to construct Al Jaber Building.TDIC, the master developer of major ...

 Jul 26 2016 - Empower supports green economy strategy in UAEMENAFN
(MENAFN) Emirates Central Cooling Systems firm (Empower), the world's largest district cooling services provider, will back the State of Green Economy Report 2017 for Dubai Carbon as its platinum ...

 Jul 26 2016 - Epico reveals new office in Abu DhabiMENAFN
(MENAFN) Emirates Property Investment Company (Epico), the property and facilities management arm of Al Fahim Group, has launched its new office in Abu Dhabi.In detail, the office is located in the ...

 Jul 26 2016 - Wasl group completes artistic projectMENAFN
(MENAFN) Wasl properties, a subsidiary of wasl Asset Management Group, has finished work of a large art project, which will turn the facades of Karama Shopping Complex in Dubaiinto an open street art ...

 Jul 26 2016 - Saudi Al-Khodari faces net loss in Q2MENAFN
(MENAFN) Saudi construction firm Abdullah Abdul Mohsin Al-Khodari and Sons said it swung to a net loss in the second quarter due to a decrease in earnings.In detail, the company suffered a net loss ...

 Jul 26 2016 - Enhancing radiation safety, IAEA signs two practical arrangements with Russian regulatory authoritiesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) VIENNA, 26th July, 2016 (WAM) --The IAEA is to cooperate with Russian authorities in the enhancement of the country's national radiation safety standards ...

 Jul 26 2016 - 43 establishments closed by ADDED in Abu Dhabi and Al AinEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 26th July, 2016 (WAM) -- Abu Dhabi Department of Economic Development, ADDED, has closed 43 commercial establishments in Abu Dhabi and Al Ain in ...

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