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

Kuwait bourse up 24.49 pts as volume rebounds  Join our daily free Newsletter

MENAFN - Arab Times - 27/11/2012

No. of Ratings : 0
Add to Mixx!


(MENAFN - Arab Times) Kuwait stocks bounced Monday after slipping into a trough in the previous session. The index climbed 24.49 points in choppy trade even as investors eyed select heavyweights and mid-caps.

The trading floor sentiment was cautiously positive in absence of strong catalysts.

The KSX 15 benchmark rose 4.36 points to a fresh high of 1027.91 points and is up almost 28 points from its baseline while the weighted index nudged 1.95 points higher. The volume turnover saw modest rebound after falling sharply in the previous session. 352.21 million shares changed hands - up 15.93 percent from Sunday. KSE, after slumping 3.61 percent in October, has been pared back some of the losses during the month.

Among the sectors closed mostly higher. Consumer services outshone the peers with 1.43 percent upswing whereas technology shed 1.41 percent, the biggest loser of the day. Volume wise, financial services garnered the biggest market share of 44.88 percent and real estate came in next with 39.05 percent.
Gulf Cables soared 100 fils, the biggest permitted single day gain to end at KD 1.240 while IFA Hotels and Resorts Co climbed 25 fils to KD 0.395. Kuwait Portland Cement Co rose 20 fils recouping the fall in the previous session and Kuwait Building Materials Manufacturing Co followed suit.
Boubyan Petrochemical Co added 10 fils on back of 1.18 million shares and Gulf Glass Manufacturing Co gained 20 fils with thin trading. Contracting and Marine Services Co rose 10 fils and Kuwait Gulf Links ticked 2 fils higher. The stock has added 2 fils so far during the month and is up 3 fils YTD.
Wataniya Telecom rallied 60 fils to wind up at KD 0.820 and Zain held the ground unchanged at KD 0.820 after seesawing in narrow range. Agility stagnated at KD 0.520 off early lows. The stock has gained 25 fils from start of the month while year-to-date, it has jumped 145 fils.

The market opened flat and moved sideways in early trade. The index pulled higher amid buying in select counters and hit the day's high of 5910.96 pts. It held steady for over an hour before giving up some of the gains. However it ticked higher again in the final minutes and closed with modest gains.
Top gainer of the day, Al Aqaria spiked 26.32 percent to 36 fils and KBMMC climbed 11.49 percent to stand next. Masaken dived 21.43 percent, the steepest decliner of the day, and Kuwait Business Town topped the volume with 42.53 million shares.
Mirroring the day's gain, the winners outpaced the losers. 62 stocks advanced and 48 closed lower. Of the 149 counters active on Monday, 39 closed flat. 6675 deals worth KD 36.91 million were transacted - a 36.91 percent surge in value from the day before.
On the negative side, Kuwait Foundry Co dropped 15 fils to KD 0.295 and Jazeera Airways eased 5 fils to KD 0.450. 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

In the banking sector, National Bank of Kuwait was unchanged at KD 0.980 after trading 3.88 million shares and Gulf Bank took in 5 fils on back of 1.12 million shares after stagnating in the previous session. Commercial Bank rallied 30 fils and Al Ahli Bank climbed 30 fils to KD 0.620. the lender has won approval of Kuwait Central Bank to extend the approval to buy back or sell up to 10 percent of its issued shares for 6 months ending on June 12, 2013
Kuwait International Bank rose 5 fils to KD 0.300 and Al Ahli United Bank was up 5 fils at KD 0.300. 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 percent.
Burgan Bank stagnated at KD 0.530 and Kuwait Finance House too did not budge from its earlier close of KD 0.810. Boubyan Bank gained 10 fils. The bank has posted a 11 percent rise in net profit to KD 7.6 million in the first nine months of 2012.

Kuwait Investment Co rose 4 fils to KD 0.106 and National Investment Co was unchanged at KD 0.140 after trading 5.6 million shares. 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. KIPCO eased 5 fils.
Securities House Co fell 2 fils to 50 fils after trading 6.69 million share and Securities Group flunked 8 fils with razor thin trading. International Finance Co took in 3 fils on back of 15.55 million shares whereas KMEFIC added 2.5 fils.
Kuwait Financial Centre Co ( Markaz) was up 2 fils and Bayan Investment Co stagnated at 37 fils. The company has won the Capital Market Authority's approval to sell its 34,499,385 shares over a period of 6 months commencing approval date. Gulf Investment House rose 2 fils on back of 26.55 million shares and Al Maal Investment nudged 0.5 fils higher . KFIC gained 3 fils and Al Deera Holding Co inched 1 fils higher. Sokouk Holding Co added 5 fils. The company has signedan agreement with a local bank to reschedule a KD 4 million debt over a period of 4 years.
National Industries Group held steady at KD 0.220 with a volume of 11.59 million shares. Kuwait Pipes rose 4 fils. The company has logged net loss of KD 3.21 million and loss per share of 14.25 fils in the January-September period.

The bourse has been mixed so far during the week and has added 14.9 pts in last two sessions. The index has rallied 136.28 points from start of the month and is up 1.93 percent year-to-date. KSE, with 213 listed companies, is the second largest bourse in the region. In the bourse related news, Global Investment House has chalked a net loss of KD 35.46 million and loss per share of 72 fils in the first nine months of 2012 as against loss of KD 54.22 million and LPS of 110 fils in the same period last year. 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. Kuwait Stock Exchange has suspended shares of the following of companies for failing to submit the financial results in the stipulated time: Al-Safat Investment Co, Kwt Commercial Markets Complex Co Industrial and Financial Inv Co, Alimtiaz Investment Group Co, Jeeran Holding Co.

Meanwhile Global Investment House Co, Al-Ahleia Holding Company and Al-Safwa Group Co are barred for posting losses exceeding 75 percent of capital. 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.


  MENA News Headlines
Apr 23 2014Omantel launches service package for youth ,MENAFN
(MENAFN) Omantel announced launching 'Ozone' plan, a new package designed especially for the youth. This comes with the company"s constant efforts to enhance the communication needs of its customers, ...

Apr 23 2014Dh154 billion for Arabtec projects ,Khaleej Times
(MENAFN - Khaleej Times) Arabtec will spend dh140 billion on building one million low-cost houses in egypt and dh14 billion on five mixed-use residential projects in abu dhabi and dubai its chief ...

Apr 23 2014?Titli? makers excited about Cannes selection ,Khaleej Times
(MENAFN - Khaleej Times) The movie about the badlands of delhi?s dystopic underbelly will be in competition as part of the un certain regard section of the 67th cannes film gala to be held may ...

Apr 23 2014Saudi- Yaroub Bashraheel: In search of peace ... underwater ,Arab News
(MENAFN - Arab News) You've heard of diving snorkeling and other water activities but rarely has anyone heard of free-diving. it's a form of diving underwater without the aid of any breathing ...

Apr 23 2014Saudi- Schneider highlights intelligent health care solutions at forum ,Arab News
(MENAFN - Arab News) Schneider electric a global specialist in energy management is set to showcase its leadership in intelligent health care solutions at the second saudi forum for planning and ...

Apr 23 2014Saudi- Divorcees can seek housing ,Arab News
(MENAFN - Arab News) The kingdom will accept applications from saudi divorced women and widows for financial and housing support said justice minister muhammad al-issa.al-issa called on applicants ...

Apr 23 2014Saudi Savola Group revenue up 43 pct in Q1 ,MENAFN
(MENAFN) Saudi Arabia's Savola Group registered a 43 percent increase in profits in the first quarter, well over expectations of analysts, Arabian Business reported. According to a statement to ...

Apr 23 2014Tamouh steps up activity on projects ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi-based real-estate developer tamouh has scaled up construction activity on all of its announced reem island projects to meet the rising demand for prime spaces in ...

Apr 23 2014Here?s your chance to share screen space with SRK ,Khaleej Times
(MENAFN - Khaleej Times) Groupon india has joined hands with srk?s red chillies entertainment to give fans a chance to feature with the superstar in his upcoming film ?happy new year?. if you ...

Apr 23 2014Saudi- Noha Al-Sharif — an expert in Islamic sculpture ,Arab News
(MENAFN - Arab News) Saudi sculptress noha al-sharif is known for her islamic inspired sculptures that reflect both religion and lifestyle. the concept of modern art attracted her to this medium ...

Apr 23 2014Dewa and GE explore collaboration opportunities ,Khaleej Times
(MENAFN - Khaleej Times) Saeed mohammed al tayer managing director and chief executive officer of the dubai electricity and water authority (dewa) recently received a ge delegation to explore ...

Apr 23 2014Local international companies come out in force ,Khaleej Times
(MENAFN - Khaleej Times) Cityscape abu dhabi has started showing stronger interest from property developers who have showcased their upcoming projects. the three-day realty show was opened by ...

Apr 23 2014Saudi- ASUS showcases product series at Aramco Week ,Arab News
(MENAFN - Arab News) Asus described as the world's renowned consumer notebook vendor and producer of the 'world's best-selling motherboards" recently participated in aramco week and showcased a ...

Apr 23 2014Saudi- Five to die for 2003 attacks ,Arab News
(MENAFN - Arab News) A special criminal court on sunday convicted five people of terror related charges and sentenced them to death. thirty-seven others were sentenced to varying prison terms for ...

Apr 23 2014Saudi- New passport office opens at Red Sea Mall ,Arab News
(MENAFN - Arab News) The passport department has opened a new office for citizens and residents at the red sea mall.gen. abdul rahman bin abdullah al-tuwairki deputy director general of the ...

Apr 23 2014Qatar's Ezdan Holding buys 20 percent stake in Widam Food ,MENAFN
(MENAFN) Qatar-based Ezdan Holding Group said that it acquired a 20.16 percent stake in Widam Food Co. in a bid to promote investments and diversify its portfolio, The Peninsula Qatar ...

Apr 23 2014Kowait: 5938 illegal residents said 'rectified' status ,Arab Times
(MENAFN - Arab Times) Kuwait city april 5 (kuna): up to 5 938 illegal residents have modified their status since formation of the central agency for remedying illegal residents' status in 2011 ...

Apr 23 2014Kowait- Police deportation powers curbed ,Arab Times
(MENAFN - Arab Times) Kuwait city april 3 (afp): kuwaiti police will no longer be able to deport expatriates without interior ministry approval under new rules published thursday after officers ...

Apr 23 2014Kowait- Amiri Diwan urges all off tape case ,Arab Times
(MENAFN - Arab Times)  kuwait city april 9 (agencies): the amiri diwan has called on everybody to steer clear of the controversial tape issue and let the public prosecution take the necessary ...

Apr 23 2014Kowait- New hospital to be ready by 2014 end ,Arab Times
(MENAFN - Arab Times) Kuwait city jan 14 (kuna): director of the 'mega projects 3' group at kuwait oil company (koc) yaqoub dashti said on tuesday that the new ahmadi hospital would be ready to ...





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