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

NBK sheds 20 fils Zain ends flat  Join our daily free Newsletter

MENAFN - Arab Times - 09/08/2010

No. of Ratings : 0
Add to Mixx!


(MENAFN - Arab Times) Kuwait stocks slipped on Sunday, snapping the three-day gains. KSE index retreated 3.8 points as profit taking weighed on select blue chips and some of the industrial counters. The trading floor sentiments remained cautious even as investors await positive indicators to prop the market confidence.

The bourse closed at 6662.30 points after see-sawing around the opening mark while the weighted index fell 1.29 points to 419 points. The volume turnover was up 8 percent adding to the rise in the last two sessions. It had surged to 541 million in the last week of July, the highest level since mid-March .

Among the prominent decliners, National Bank of Kuwait dropped 20 fils wiping off the gains in the previous session. It ended at KD 1.200 with a volume turnover of 0.812 million. The stock had gained 5.17 percent in July and has added 80 fils since the start of the year. Wataniya Telecom too shed 20 fils trimming the robust gains on Thursday.

Zain held the ground unchanged at KD 1.200 after vacillating in a 20 fils range. Agility was not traded during the session. The stock got a boost in the last week of July on reports that U.S government has softened its stance towards its subsidiary Agility DGS Holdings.

The market opened weak and slipped into red in early trading. The index continued to erode and hit the days lowest level of 6644 points as selling hit select heavyweights and few mid-caps. However it recovered and crested at 6662.8 points almost half way into the session. The market eased again to traded below the red in the final hour and managed to trim losses at close.
The top gainer of the day, Bayan Investment Co soared 8.77 percent to close at KD 0.062 while Amar For Finance and Leasing climbed 6.25 percent to stand next. Kuwait Building Material Manufacturing Co shed 6.6 percent the steepest decliner of the day, while Manazel topped the volume with over 23 million shares changing hands.

The market spread was skewed towards the losers. 27 stocks advanced while 43 closed lower. Of the 116 counters active on Sunday, 45 closed unchanged. 3128 deals worth KD 19.415 million were transacted - a 21 percent surge in value over previous session. KSE, with 209 listed companies, is the second largest bourse in the region.

The sectors closed mixed. Banking sector dropped 1 percent, the worst performer of the day whereas investment inched 0.1 percent higher. Insurance was unchanged and real estate slipped 0.4 percent. Industrials too was down 0.4 percent whereas the best performer, services climbed 0.6 percent. Food eroded 0.6 percent and non-Kuwaiti eased 0.2 percent.
The bourse had posted modest gains during the last week. It closed higher in 4 of the 5 sessions and climbed 12 points week-on-week. The index rose 8 points since the start of the month and is trading 3 percent lower year-to date.

Banking scrips closed mostly lower. Gulf Bank continued to stagnate at KD 0.450. It vacillated in a narrow 10 fils range and traded 2.37 million shares. Commercial Bank too did not budge from its earlier close of KD 0.880 whereas Al Ahli Bank closed 10 fils lower. ABKs second quarter profits more than doubled from year-ago levels to KD 10.95 million and dividends increased from 18 fils to 20 fils.

Burgan Bank slipped 5 fils to end at KD 0.345 after stagnating on Thursday while Kuwait Finance House held the ground unchanged at KD 1.060 after moving in a 20 fils range. The Islamic lender had gained 6.12 percent during July but is trading 40 fils lower year-to-date.

Ahli United Bank dropped 20 fils to wind up at KD 0.510. The bank saw a profit of KD 12.7 million in the first half of 2010 boosted income from core banking operations which amounted to KD 40.0 millions. Boubyan Bank bucked the trend to add 10 fils.

National Industries Group was flat at KD 0.300 and Kuwait Pipes eased 5 fils after trading 1.28 million shares. Kuwait Cement Co stagnated and Gulf Cables shed 20 fils to settle at KD 1.860. Kuwait Portland Cement climbed 20 fils . Advanced Technology Company spiked 30 fils and Mashaer Holding Co added 15 fils.
Among the investment scrips, International Financial Advisors inched 1 fils lower
with a volume turnover of 5.12 million shares whereas National Investment Co was flat at KD 0.350. Sector major KIPCO rose 10 fils on back of 1.82 million shares.

Aref Investment Group and Kuwait Financial Centre Company ( Markaz) were steady at KD 0.056 and KD 0.062 respectively. Bayan Investment Co gained 5 fils with a volume of 3.16 million shares while Global Investment House took in 1 fils to settle at KD 0.064. The stock had surged 36 percent in July but has fallen 35 fils since the start of the year.

KAMCO closed flat at KD 0.330 and Al Deera Holding Co rose 3 fils on back of 10.5 million shares. Al Safat Investment Co fell 1 fils and Noor Financial Investment was unchanged at KD 0.052. Al Tamdeen Investment Co rose 10 fils.

National Real Estate Co was up 10 fils at KD 0.180 whereas Tamdeen Real Estate Co slipped 5 fils to KD 0.335. Mabanee Co was flat at KD 0.690 whereas Mazaya Holding Co dropped 4 fils.

In the bourse related news, National Industries Company for Building Materials has recorded a net profit of KD 1,958,934 and earnings per share of 5.56 fils in thr second quarter compared to a profit of KD 4,393,150 and earnings per share of 12.76 fils for the same period in 2009. In the first half of 2010, the net profit reached KD 4,172,824 and earnings per share stood at 12.11 fils.

Gulf Cables and Electrical Industries Company has chalked a net profit of KD 19,092,520 and earnings per share of 91 fils compared to a profit of KD 1,224,114 and earnings per share of 6 fils for the same period last year. In six-month period ending June 30, the net profit touched KD 22,069,735 and earnings per share worked out at 105 fils .

Pearl of Kuwait Real Estate Co. announced its results for its Fiscal Year 2009 . The company posted a net loss of KD 9,542,591 and loss per share of 37.94 fils as against last years net loss of KD 7,935,133 Loss per share last year 31.54 fils . The Board of Directors recommended no dividend payout for the Fiscal Year

Burgan Company for Well Drilling, Trading & Maintenance has announced its financial statements for the year ended March 31, 2010. The company has posted a profit of KD 2,874,265 and earnings per share of 13.72 fils compared to a profit of KD 6,860,647 and earnings per share of 35.03 in the year before. The Board has also recommended to retain earnings for the same year.

Meanwhile, Kuwait Stock Exchange announced the trading suspension of the shares of the following companies for failing to submit their financial results in stipulated time. They are : Al Safat Global Company Holding, Al Dar Investment Company, International Leasing Company, Villa Moda Lifestyle Company, International Investment Group, Pearl of Kuwait Real Estate Company, Al Shabaka Holding Co., Ayan Leasing Co, Al Ahlia Holding Company, Al Abraj Holding Company.


  MENA News Headlines
Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Georgian Justice Minister Leaves Doha ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - HE Minister of Justice of Georgia Tia Tsulukiana left Doha on Thursday morning wrapping up a two-day official visit to the country. An agreement on ...

Apr 24 2014Egyptian Premier Off to Chad ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egyptian Prime Minister Ibrahim Mehlib left cairo on Thursday for Chad the first leg of a three-day two-state trip that will also take him to Tanzania ...

Apr 24 2014Australian Federal Parliament Deputy Speaker Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Canberra April 24 - Australian Federal Parliament Deputy Speaker Bruce Scott met here Thursday with HE Qatar's Ambassador to Australia Yousef bin Ali Al ...

Apr 24 20143 GCC countries among top 30 on network readiness index ,MENAFN
(MENAFN) According to an annual global technology survey for network readiness index for 2014, three GCC countries have made it to the top 30 list for the third year in a row, Gulf Daily News ...

Apr 24 2014Morocco Admitted As Observer Member to SICA ,Qatar News Agency
(MENAFN - Qatar News Agency) La Romana Dominican April 24 - Morocco has been admitted as an observer member in the Central American Integration System (SICA) which also includes each of Belize ...

Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

Apr 24 2014Bahraini firms forecasted to grow 10 pct ,MENAFN
(MENAFN) In a report based on a study of over 650 companies across GCC, Kuwait Financial Centre (Markaz) forecasts a growth of the Bahraini companies' earnings by 10 percent in 2014, Gulf Daily News ...

Apr 24 2014Israeli Army Storms Deir Samit Village West of Hebron ,Qatar News Agency
(MENAFN - Qatar News Agency) bron April 24 - Israeli army forces stormed at dawn Thursday Deir Samit village southwest of Hebron city in the West Bank. The Israeli forces conducted raid and search ...

Apr 24 2014Israeli Tanks Enter Gaza Border area ,Qatar News Agency
(MENAFN - Qatar News Agency) Gaza April 24 - Six Israeli military tanks on Thursday entered a border area in the southern Gaza Strip witnesses said. The tanks crossed into Gaza in an area called ...

Apr 24 2014UN Chief: All Parties in Syria Blocking Aid ,Qatar News Agency
(MENAFN - Qatar News Agency) w York April 24 - The UN Secretary General Ban Ki-moon has accused all parties in Syria's civil war of "flagrant violations" of international law over the delivery of ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014President Salva Kiir Relieves his Chief of the General Staff ,Qatar News Agency
(MENAFN - Qatar News Agency) Juba April 24 -South Sudanese President Salva Kiir relieved Chief of the General Staff of south sudan army James Hoth Mai. This came in a presidential decree aired ...

Apr 24 2014Omani non-oil exports to enter African markets ,MENAFN
(MENAFN) A senior official at the Oman Chamber of Commerce and Industry (OCCI) said that the Sultanate is seeking expansion in new African markets, in a time it is looking forward to reduce its ...

Apr 24 2014US Secretary of State Meets Egyptian Intelligence Chief ,Qatar News Agency
(MENAFN - Qatar News Agency) shington April 24 - US Secretary of State John Kerry has met with the Egyptian Intelligence Chief Major General Mohammed Ahmed Fareed al-Tohami who is currently ...

Apr 24 2014Qatar Airways to add more seats on Doha-Vienna route ,MENAFN
(MENAFN) Qatar Airways plans to offer more 1.700 seats on its Doha-Vienna route beginning from September 2014, according to Gulf News. The company aims to expand the growing passenger demand from ...

Apr 24 2014Egypt's Interim President Receives Phone Call from South African President ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egypt's Interim President Adly Mansour has received a telephone call from President of the Republic of South Africa Jacob Zuma in which they discussed ...


Arab Advisors_11th convergence conf



Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

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


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Investment Game
Economic Calendar
Financial Glossary

Portfolio Tracker


Financial Calculators

RSS Feeds [XML]

Corporate Monitor


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