27 December 2006
KUWAIT: Kuwait Stock Exchange (KSE) managed to register modest gains, as large cap stocks pushed the indices up. A flow of positive corporate news triggered buying in some stocks yesterday.
Global General Index ended the day up by 0.7 per cent or 2.01 points to close at 288.96 points. Moreover, the market benchmark KSE Price Index increased by 17.10 points (or 0.17 per cent), to close at 9,949.6 points.
Market capitalisation increased by 0.7 per cent yesterday to reach KD41.74bn. Volume of declined shrank by 10 per cent yesterday, to reach 120.63mn of shares traded at a value of KD60.40mn through 5,540 deals. Investors interest was witnessed on Oula Fuel Marketing Company, as the volume traded on its stock reached 15.43mn shares. The scrip ended the day up by 2.6 per cent to close at 395fils. On the other hand, National Real Estate Company witnessed the highest traded value at KD7.40mn. The scrip registered an increase of 9.43 per cent to be among the top gainers of the day.
The market witnessed 51 advancers against 41 decliners, while 88 stocks ended unchanged. Kuwait Reinsurance Company was the prominent gainer yesterday as it registered an increase of 9.62 per cent to close at 285fils. On another hand, International Industrial Projects Group was the major loser, registering a decline of 7.41 per cent to close at 250fils.
Positive sentiment continues to improve as most of the sectors ended the day with gains. Global Real Estate Index was the main gainer among sectoral indices, registering an increase of 1.29 per cent on the back of the outstanding performance registered in some stocks of the sector. Ajial Real Estate & Entertainment Company gained 6.49 per cent to close at 410fils, while Tamdeen Real Estate Company increased by 3.75 per cent and Arkan Al Kuwait Real Estate Company gained 3.49 per cent. Arkan's AGM and EGM were held and approved the distribution of 5 per cent cash dividends as well as the distribution of 7 per cent bonus shares. The scrip ended the day at 178fils.
Global Services Index ended the day up by 1.12 per cent on the back of the gains registered in many stock such as Sultan Centre Food Products Company which increased by 9.43 per cent to close at 580fils, Agility which increased by 4.76 per cent and Kuwait National Cinema Company which gained 4.26 per cent. Aviation Lease and Finance Company which announced that it's raising its capital by 24 per cent to KD62mn, and that it will use these fund to add 50 planes to the company's fleet. The scrip ended the day up three per cent to close at 206fils. IFA hotels announced that it has acquired two residential buildings in Portugal for a cost of $35mn. The scrip was also up, recording an increase of 1.85 per cent to close at KD1.1. Also, Burgan for Well Drilling Company announced that it has been awarded a KD20.58mn worth tender for the Kuwait Petroleum Company over a period of five years. The scrip ended the day up by 4.17 per cent at 750fils.
Global Food Index was the prominent loser yesterday, as it ended the day with a gap of 2.24 per cent on the back of the losses registered in three out the five listed companies in this sector. Livestock Transport & Trading Company lost 2.6 percent, Kuwait Foodstuff Company declined by 2.78 per cent and United Food Industrial Group decreased by 1.05 per cent.
KSE announced that it will close for the Eid Al-Adha holidays from January 30, 2006 till January 5, 2007. International Investment Group announced that it is planning to set up an investment bank in Sudan along with other investors. Jossour Bank will have a capital of $2mn. The Group and its affiliate will cover 30 per cent of the capital.
Mobile Telecommunication Company will bid for the third Saudi mobile phone licence in Saudi Arabia. The boards of Kuwait Metal Pipe Industries and Oil Services Companies and Kuwait Food Company have resigned as Kharafi Group seeks to restore share voting rights.
Jeeran Holding Company clarified what was announced in one of the local newspapers about winning a tender worth KD19.41mn by its subsidiary United Gulf Construction Company saying that the company won this tender only as an agent of Hyundai Engineering and Construction Company and has no direct connection to this tender. Equipment Holding Company announced that it has presented the best offer in a tender for the Ministry of Energy worth KD1.69mn and another tender for the Ministry of Health worth KD498,642.
Kuwait Financing & Investment Company announced that it has entered a joint venture with the Bahraini Council for Economic Development, to establish a $1bn integrated education city located in the Kingdom of Bahrain.
The AGM of Educational Holding Group met yesterday and approved the distribution of 20 per cent cash dividends for the year ended August 31, 2006.
Osoul Leasing & Financing Company announced selling a real estate for a value of KD4.5mn, recording a profit of KD3.5mn.
KUWAIT: Kuwait Stock Exchange (KSE) managed to register modest gains, as large cap stocks pushed the indices up. A flow of positive corporate news triggered buying in some stocks yesterday.
Global General Index ended the day up by 0.7 per cent or 2.01 points to close at 288.96 points. Moreover, the market benchmark KSE Price Index increased by 17.10 points (or 0.17 per cent), to close at 9,949.6 points.
Market capitalisation increased by 0.7 per cent yesterday to reach KD41.74bn. Volume of declined shrank by 10 per cent yesterday, to reach 120.63mn of shares traded at a value of KD60.40mn through 5,540 deals. Investors interest was witnessed on Oula Fuel Marketing Company, as the volume traded on its stock reached 15.43mn shares. The scrip ended the day up by 2.6 per cent to close at 395fils. On the other hand, National Real Estate Company witnessed the highest traded value at KD7.40mn. The scrip registered an increase of 9.43 per cent to be among the top gainers of the day.
The market witnessed 51 advancers against 41 decliners, while 88 stocks ended unchanged. Kuwait Reinsurance Company was the prominent gainer yesterday as it registered an increase of 9.62 per cent to close at 285fils. On another hand, International Industrial Projects Group was the major loser, registering a decline of 7.41 per cent to close at 250fils.
Positive sentiment continues to improve as most of the sectors ended the day with gains. Global Real Estate Index was the main gainer among sectoral indices, registering an increase of 1.29 per cent on the back of the outstanding performance registered in some stocks of the sector. Ajial Real Estate & Entertainment Company gained 6.49 per cent to close at 410fils, while Tamdeen Real Estate Company increased by 3.75 per cent and Arkan Al Kuwait Real Estate Company gained 3.49 per cent. Arkan's AGM and EGM were held and approved the distribution of 5 per cent cash dividends as well as the distribution of 7 per cent bonus shares. The scrip ended the day at 178fils.
Global Services Index ended the day up by 1.12 per cent on the back of the gains registered in many stock such as Sultan Centre Food Products Company which increased by 9.43 per cent to close at 580fils, Agility which increased by 4.76 per cent and Kuwait National Cinema Company which gained 4.26 per cent. Aviation Lease and Finance Company which announced that it's raising its capital by 24 per cent to KD62mn, and that it will use these fund to add 50 planes to the company's fleet. The scrip ended the day up three per cent to close at 206fils. IFA hotels announced that it has acquired two residential buildings in Portugal for a cost of $35mn. The scrip was also up, recording an increase of 1.85 per cent to close at KD1.1. Also, Burgan for Well Drilling Company announced that it has been awarded a KD20.58mn worth tender for the Kuwait Petroleum Company over a period of five years. The scrip ended the day up by 4.17 per cent at 750fils.
Global Food Index was the prominent loser yesterday, as it ended the day with a gap of 2.24 per cent on the back of the losses registered in three out the five listed companies in this sector. Livestock Transport & Trading Company lost 2.6 percent, Kuwait Foodstuff Company declined by 2.78 per cent and United Food Industrial Group decreased by 1.05 per cent.
KSE announced that it will close for the Eid Al-Adha holidays from January 30, 2006 till January 5, 2007. International Investment Group announced that it is planning to set up an investment bank in Sudan along with other investors. Jossour Bank will have a capital of $2mn. The Group and its affiliate will cover 30 per cent of the capital.
Mobile Telecommunication Company will bid for the third Saudi mobile phone licence in Saudi Arabia. The boards of Kuwait Metal Pipe Industries and Oil Services Companies and Kuwait Food Company have resigned as Kharafi Group seeks to restore share voting rights.
Jeeran Holding Company clarified what was announced in one of the local newspapers about winning a tender worth KD19.41mn by its subsidiary United Gulf Construction Company saying that the company won this tender only as an agent of Hyundai Engineering and Construction Company and has no direct connection to this tender. Equipment Holding Company announced that it has presented the best offer in a tender for the Ministry of Energy worth KD1.69mn and another tender for the Ministry of Health worth KD498,642.
Kuwait Financing & Investment Company announced that it has entered a joint venture with the Bahraini Council for Economic Development, to establish a $1bn integrated education city located in the Kingdom of Bahrain.
The AGM of Educational Holding Group met yesterday and approved the distribution of 20 per cent cash dividends for the year ended August 31, 2006.
Osoul Leasing & Financing Company announced selling a real estate for a value of KD4.5mn, recording a profit of KD3.5mn.
© Kuwait Times 2006
