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

Kuwait- KSE knocks off 31.26 pts as volume plunges  Join our daily free Newsletter

MENAFN - Arab Times - 19/11/2012

No. of Ratings : 0
Add to Mixx!


(MENAFN - Arab Times) Kuwait stocks kicked off the week on a sour note. The index, after chalking a slight early uptick, pulled 31.26 pts lower to 5,769.24 points amid negative sentiments.

The decline was led by mid and low caps even as most of the blue chips remained muted.

The KSX 15 measure slipped 4.65 points while the weighted index edged 1.89 pts down to settle at 407.61 points. The volume turnover meanwhile dropped sharply after holding above the 400 million mark in the last two sessions. 197.64 million shares changed hands - down 56.65 percent from Wednesday, the last trading day. KSE had slumped 3.61 percent in October amid political woes.

The sector closed mostly in red. Insurance gained 0.86 percent, outshining the peers whereas banks dived 1.56 percent, the worst performer of the day. Volume wise, financial services dominated with 46.38 percent market share and real estate came in next with 38.94 percent.

Advanced Technology Co slid 25 fils to KD 0.425 with thin trading and National Industries Co shed 20 fils adding to the marginal rise in the previous session. Gulf Cables dropped 20 fils to KD 1.100 and Kuwait Foundry Co was down 10 fils at KD 0.310.

ALAFCO eased 5 fils to KD 0.325 and Kuwait Cement Co was down by same measure to wind up at KD 0.400. Kuwait Building Materials Manufacturing Co erased 6 fils and Kuwait Pipes slipped 4 fils.

Bourse heavyweight Zain held the ground unchanged at KD 0.750 and Wataniya Telecom followed suit to end at KD 2.160. The stock has shed 80 fils from start of the month and is trading 220 fils lower year-to-date.
Agility fell 10 fils to KD 0.520 erasing the gains in the previous session. The logistics major has logged a net profit of KD 24.65 million and earnings per share of 24.72 fils in the first nine months of 2012 - up from KD 23.584 million profit and 23 fils in the same period in 2011.

The market opened flat and edged slightly higher in early trade. The index hit the day's highest level of 5804.29 points and retreated thereafter amid selling in select counters. It continued drift past the mid-session and bottomed at 5753.31 pts before paring some of the losses at close.

Top gainer of the day, International Finance Co spiked 8.62 percent to 63 fils and Kuwait Real Estate Co climbed 8.33 percent to stand close behind. Amwal plunged over 9 percent, the steepest decliner of the day, and Manazel topped the volume with 28.2 million shares.

The market spread was skewed towards the losers. 26 stocks advanced whereas 63 closed lower. Of the 119 counters active on Sunday, 30 closed flat. 3972 deals worth KD 13.63 million were transacted - a 54.75 percent plunge in value from the previous session.

Meanwhile, KSE authorities are planning to suspend trading on about 50 companies for failing to announce their financials results before the deadline of Nov 15.

On the upside, Kuwait Food Co (Americana) rose 20 fils to KD 1.600 and Gulf Glass Manufacturing Co was up by same measure to close at KD 0.690. Kuwait Portland Cement gained 10 fils whereas National Industries Group stagnated at KD 0.216 after trading 2.89 million shares.

In the banking sector, National Bank of Kuwait was flat at KD 0.960 off early highs and Gulf Bank was up 5 fils at KD 0.415. Commercial Bank of Kuwait and Al Ahli Bank were not traded during the day. ABK has posted net profit of KD 30,353,000 and earnings per share of 20 fils in the nine months to September 2012.

Burgan Bank eased 10 fils to KD 0.520 and Boubyan Bank followed suit. Kuwait Finance House was unchanged at KD 0.780 after trading in red earlier in the day. The stock has gained 30 fils from start of the month and retreated 120 fils year-to-date.

Kuwait International Bank held steady at KD 0.295 whereas Ahli United Bank pulled 10 fils lower. AUB has recorded KD 8.45 million net profit in July-September period while in the first nine-months it reached KD 29 million. The lender has set aside KD 12.55 million provisions even as the bad loan coverage ratio reached 176%.

Commercial Facilities Co rose 5 fils to KD 0.340 and National Investment Co ticked 2 fils higher. The company has notched a net profit of KD 5,648 million and earnings per share of 6 fils in first nine-months of 2012. Kuwait Financial Centre (Markaz) stagnated at KD 0.122 whereas KIPCO was not traded during the session.

Al Maal Investment fell a marginal 0.5 fils with a volume of 1.16 million shares Osoul Investment Co slipped 3 fils to 75 fils and KAMCO eased 4 fils. Sokouk Holding Co climbed 4 fils. The company has posted a net profit of KD 2.010 million and earnings per share of 3.74 fils in January-Sept period.
Kuwait Gulf Links flunked 1 fils to end at 87 fils and Jazeera Airways Co stagnated at KD 0.455. The carrier has recorded a net profit of KD 11,437,703 and earnings per share of 47.26 fils in the January-September period of 2012.

The bourse was upbeat during last week. It closed higher in 3of the 4 sessions and climbed 28.33 points week-on-week. The index added a meager 2.28 points from start of the month and is up 0.15 percent year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region.

In the bourse related news, International Finance has logged a net profit of KD 174,952 and earnings per share of 0.22 fils in the first nine months of 2012 after chalking a net loss of KD 9.32 million and LPS of 13.71 fils in the same period last year.

Aayan Leasing and Investment has recorded a nine months net profit KD 17.62 million and earnings per share of 38.26 fils in the January-September period as against net loss of KD 7.22 million and loss per share of 21.90 fils in 9M 2011.

Abyaar Real Estate Development has announced a net loss KD 1.24 million and loss per share of 1.15 in the first nine months of 2012 as against earnings of KD 821,618 and EPS of 0.78 fils in the same period last year.
Kuwait Real Estate has registered a net profit KD 1.733 million and EPS of 1.91 fils in the January-Sept period as against earnings of KD 877,467 and earnings per share of 0.97 fils in the same period last year.

ACICO Industries has logged a nine-month profit of KD 2,333,808 and earnings per share 9.42 fils, up from KD 1,540,986 profit and EPS of 6.22 fils in the same period in the previous year.

Gulf Finance House has registered a net profit of KD 2,128,445 and earnings per share of 2 fils in the January-September period as compared to profit of KD 1,129,260 and earnings per share of 1 fils in same period last year.


  MENA News Headlines
Apr 24 2014Kuwait inflation edges up 2.96% y/y in March ,Arab Times
(MENAFN - Arab Times) Wait city april 23 (kuna): kuwait's annual record of the general index of consumer prices (inflation) rose in march by 2.96 percent compared with the same month of last year ...

Apr 24 2014Tim Hortons opens at Dubai Chamber ,Khaleej Times
(MENAFN - Khaleej Times) Tim hortons recently celebrated the opening of its newest cafe and bake shop restaurant at the dubai chamber of commerce and industry by the dubai creek. hamad buamim ...

Apr 24 2014Abu Dhabi investment zones home prices jump 20% in Q1 ,Khaleej Times
(MENAFN - Khaleej Times) 2100 residential units were delivered to the market: adib report homes prices in abu dhabi’s investment zones rose up to 20 per cent in the first quarter of ...

Apr 24 2014How well do you know Macklemore & Ryan Lewis? ,Khaleej Times
(MENAFN - Khaleej Times) One of 2013?s most successful acts worldwide hip-hop pair macklemore & ryan lewis are back with a bang for their abu dhabi concert on friday ...

Apr 24 2014UAE- Banks asked to submit customers' credit data ,Khaleej Times
(MENAFN - Khaleej Times) Al etihad credit bureau has asked the banking and financial institutions to submit their customers? credit data for the past two years. the bureau’s board of ...

Apr 24 2014FM holds luncheon for Qatari counterpart ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) First Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah held Wednesday a luncheon for visiting Qatari Foreign Minister Dr. Khaled ...

Apr 24 2014Kuwaiti wins Arab sports body post ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) A Kuwaiti sports figure has been elected deputy chairman of the technical committee of the Arab Athletics Federation. Fahad Thamer, a member of the technical ...

Apr 24 2014UNSC welcomes progress in eliminating Syria's CW, mulls investigating chlorine gas attacks near Hama ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Security Council on Wednesday welcomed the progress achieved so far by the UN and the Organisation for the Prohibition of Chemical Weapons (OPCW) Joint ...

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 2014DPG launches Masat to oversee portfolio ,Khaleej Times
(MENAFN - Khaleej Times) Dubai properties group (dpg) has announced the establishment of masat a new dedicated portfolio management company responsible for overseeing and managing dpg?s built to ...

Apr 24 2014UAE- Shapoorji Pallonji enters final stage on Bloom Central ,Khaleej Times
(MENAFN - Khaleej Times) Leading regional and international construction company shapoorji pallonji has entered the final stage of construction of bloom central project a 25-storey mixed-use ...

Apr 24 2014UAE- Huge turnout recorded at Gitex Shopper's first day ,Khaleej Times
(MENAFN - Khaleej Times) Buyers seek deals on newly launched smartphones the first day of gitex shopper spring edition recorded strong turnout despite the fact that it was a working day and ...

Apr 24 2014Landmark day for Dubai as bourse hits 5100 mark ,Khaleej Times
(MENAFN - Khaleej Times) Bourse hits 5100 mark; dhcog to prepay $555m; govt raises $750m from sukuk it was a landmark day for dubai on wednesday as the emirate made significant progress on ...

Apr 24 2014Kuwait's consumer price rises by 2.96 percent in March ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Kuwait's annual record of the general index of consumer prices (inflation) rose in March by 2.96 percent compared with the same month of last year, the Central ...

Apr 24 2014Heads of aid agencies urge int'l community to find the courage, will Syrians have plenty of ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Heads of five UN Aid Agencies on Wednesday urged the international community to find the courage and will the Syrian people have to cope with and survive over ...

Apr 24 2014US says any Palestinian gov't must "unambiguously" commit to nonviolence, existence of Israel ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The US stressed here Wednesday that any Palestinian government must "unambiguously and explicitly commit to nonviolence, recognition of the state of Israel, and ...

Apr 24 2014Arab League hails Palestinian party reconciliation pact ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Arab League chief Nabil Al-Araby has commended the agreement for a national unity government formation reached between the once rival main Palestinian parties, ...

Apr 24 2014Kuwait- OCA committed to cooperation with member nations - president ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Olympic Council of Asia is committed to cooperating with and providing all forms of support to its member nations during difficult circumstances they are ...

Apr 24 2014UAE- Move to spur female entrepreneurship ,The Peninsula
(MENAFN - The Peninsula) UAE-based conglomerate Crescent Enterprises has partnered with the Cherie Blair Foundation for Women to empower, mentor and support female entrepreneurs in a number of ...

Apr 24 2014Choose Hamas or Israel, Netanyahu tells Abbas ,The Peninsula
(MENAFN - The Peninsula) Israel's Prime Minister Benjamin Netanyahu cautioned Palestinian President Mahmoud Abbas yesterday over just-revived unity talks with Hamas, saying he had to choose between ...





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