10 July 2006
KUWAIT: Kuwait Stock Exchange managed to end its second session of the week on a positive note extending its gains for the sixth consecutive day to reach its highest level since June 19, 2006 measured by Global General Index. For the month of July, the index has accumulated so far 0.92 per cent gains. Trading activity remained strong, as expectations on some major listed companies' profits for the first half of the year are encouraging. Global General Index (GGI) closed up 1.05 points, or 0.37 per cent, at 281.26 points.
KSE Price Index rose 45.30 points (or 0.45 per cent) and closed at 10,104.60 points. Market capitalisation of the KSE grew by 0.37 per cent, reaching KD 39.59bn.
Today's market breadth was skewed marginally towards advancers with 46 stocks ending the session with gains against 41 stock declining. Volume of shares traded on the exchange increased by 7.21 per cent, reaching 167.79mn shares with 41.17 per cent of the trading accounted for by the Investment sector.
Trading was intense on Al-Madina for Finance & Investment Company shares with 14.06mn shares exchanging hands, aggregating to KD 4.20m. The stock ended the day up by 1.69 per cent at 300fils.
Five of the eight sector indices ended the day higher. Global Insurance Index was the top advancer, adding 1.33 percent in the day. On the other side, Global Services sector was the biggest loser, shedding 0.35 percent as two of the sector's companies made it to the top losers list for the day. Safwan Trading & Contracting Company was the biggest decliner. The scrip retreated 6.94 per cent to end the day at 335fils.
Also, Educational Holding Group retreated by 5.33 per cent. The company reported a loss of 42.66 per cent in its net profit for the nine months ending in May 31, reach KD 4.62m. In the same sector news, Public Warehousing Company announced signing a deal to acquire the Switzerland based freight forwarding company Coronat Transport Holding Group for $27m. However, PWC share price dropped 2.15 per cent at KD 1.820.
On the other hand, Mazaya Holding Company approved in its AGM to increase the company's' capital to KD 28.74m by issuing 55mn shares at 100 fils par value plus 410 fils premium. The company is increasing its capital to complete its acquisition of First Dubai Developing Real Estate Company. The scrip ended the day up by 1.92 per cent at 530 fils.
Global Real Estate Index lost 0.25 per cent to close at 136.09 points. Egypt Kuwait Holding Company topped today's gainers list, up 8.62 per cent. Global Non-Kuwaiti Index added 0.32 per cent to its previous closing.
Other major advancers included National Ranges Company (+7.81 per cent), Ajial Real Estate & Entertainment Company (+6.17 per cent) and Arabi Group Holding Company (+5.62 per cent).
KUWAIT: Kuwait Stock Exchange managed to end its second session of the week on a positive note extending its gains for the sixth consecutive day to reach its highest level since June 19, 2006 measured by Global General Index. For the month of July, the index has accumulated so far 0.92 per cent gains. Trading activity remained strong, as expectations on some major listed companies' profits for the first half of the year are encouraging. Global General Index (GGI) closed up 1.05 points, or 0.37 per cent, at 281.26 points.
KSE Price Index rose 45.30 points (or 0.45 per cent) and closed at 10,104.60 points. Market capitalisation of the KSE grew by 0.37 per cent, reaching KD 39.59bn.
Today's market breadth was skewed marginally towards advancers with 46 stocks ending the session with gains against 41 stock declining. Volume of shares traded on the exchange increased by 7.21 per cent, reaching 167.79mn shares with 41.17 per cent of the trading accounted for by the Investment sector.
Trading was intense on Al-Madina for Finance & Investment Company shares with 14.06mn shares exchanging hands, aggregating to KD 4.20m. The stock ended the day up by 1.69 per cent at 300fils.
Five of the eight sector indices ended the day higher. Global Insurance Index was the top advancer, adding 1.33 percent in the day. On the other side, Global Services sector was the biggest loser, shedding 0.35 percent as two of the sector's companies made it to the top losers list for the day. Safwan Trading & Contracting Company was the biggest decliner. The scrip retreated 6.94 per cent to end the day at 335fils.
Also, Educational Holding Group retreated by 5.33 per cent. The company reported a loss of 42.66 per cent in its net profit for the nine months ending in May 31, reach KD 4.62m. In the same sector news, Public Warehousing Company announced signing a deal to acquire the Switzerland based freight forwarding company Coronat Transport Holding Group for $27m. However, PWC share price dropped 2.15 per cent at KD 1.820.
On the other hand, Mazaya Holding Company approved in its AGM to increase the company's' capital to KD 28.74m by issuing 55mn shares at 100 fils par value plus 410 fils premium. The company is increasing its capital to complete its acquisition of First Dubai Developing Real Estate Company. The scrip ended the day up by 1.92 per cent at 530 fils.
Global Real Estate Index lost 0.25 per cent to close at 136.09 points. Egypt Kuwait Holding Company topped today's gainers list, up 8.62 per cent. Global Non-Kuwaiti Index added 0.32 per cent to its previous closing.
Other major advancers included National Ranges Company (+7.81 per cent), Ajial Real Estate & Entertainment Company (+6.17 per cent) and Arabi Group Holding Company (+5.62 per cent).
© Kuwait Times 2006
