arabtoday
Last Updated : GMT 00:43:30
Arab Today, arab today
Arab Today, arab today

Gulf markets weak, Kuwait National Bank rises in heavy trade

Arab Today, arab today

Arab Today, arab today Gulf markets weak, Kuwait National Bank rises in heavy trade

Dubai - Arabstoday

Most regional markets retreated yesterday as global economic outlook concerns weighed on sentiment, while shares in National Bank of Kuwait (NBK) rose in heavy trade after posting estimate-beating earnings. NBK climbed 1.1 percent as 38 million shares change hands — its highest daily traded volume since August 2010. It accounted for a third of the total market traded value of 92 million dinars ($ 322.86 million). The lender posted a flat profit in the first quarter compared to a year earlier but came in ahead of forecasts, saying its operating environment was improving because of more active government spending. “People are trying to build up collateral and regain back ownership of their shares, they’re buying back into the story that things are improving in Kuwait,” said a Kuwait-based trader on condition of anonymity. Banks in Kuwait give loans to investors to trade on the market, while holding shares as collateral against these loans. The benchmark slipped 0.1 percent, down from Wednesday’s 29-month high. The market is trading above the psychologically important 7,000 level, but is still recovering from November’s eight-year low. In Oman, the index declined 0.5 percent, down for a third session since Monday’s 23-month high. “Markets are under pressure because of global sentiment,” said Adel Nasr, United Securities brokerage manager. Transgulf Investment Holding fell 5.8 percent. The company’s first-quarter audited results were worse than the unaudited numbers, Nasr said. Galfar Engineering retreated 3.3 percent. The company is not related to Galfar Al-Misnad Engineering and Contracting company in Qatar, which is part of a consortium shortlisted for Doha Metro Rail Project. But the Omani firm is now negotiating with Galfar-Al Misnad to take part of their portion in the project, it said in a bourse statement. UAE markets fell, with Dubai’s measure slipping 1.1 percent, its fourth decline in the last five sessions. The market is struggling to take a clear direction since hitting a 40-month high last week. Heavyweight Emaar Properties fell 2.7 percent and Dubai Islamic Bank shed 2.1 percent. Abu Dhabi’s measure eased 0.05 percent. Qatar’s index gained 0.2 percent, up for a third session since Monday’s 2013 low. Shares in Doha Bank rose 1.2 percent. The lender’s first-quarter profit rose to 395 million riyals from 390 riyals a year ago. Elsewhere, Egypt’s measure advanced 0.2 percent, as local retail investors bought small-caps. Palm Hills Development rose 4.7 percent in heavy trade. Source: ArabNews

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gulf markets weak kuwait national bank rises in heavy trade Arab Today, arab today gulf markets weak kuwait national bank rises in heavy trade

 



Arab Today, arab today
Arab Today, arab today Adidas Originals ‘reinterpreted’

GMT 14:52 2016 Thursday ,01 December

Adidas Originals ‘reinterpreted’
Arab Today, arab today Holiday magic is everywhere

GMT 13:04 2016 Saturday ,03 December

Holiday magic is everywhere
Arab Today, arab today Paris's matchbox apartments

GMT 10:37 2016 Saturday ,24 September

Paris's matchbox apartments
Arab Today, arab today First buses take Aleppo residents back

GMT 07:33 2016 Monday ,05 December

First buses take Aleppo residents back
Arab Today, arab today What next after landmark

GMT 09:01 2016 Saturday ,03 December

What next after landmark
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Dino-killing crater shows clues

GMT 14:43 2016 Thursday ,24 November

Dino-killing crater shows clues
Arab Today, arab today Dubai Women Establishment delegation

GMT 13:00 2016 Monday ,05 December

Dubai Women Establishment delegation
Arab Today, arab today To battle Japanese whaling fleet

GMT 11:53 2016 Monday ,05 December

To battle Japanese whaling fleet
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Hyundai allows Saudi journalists

GMT 15:14 2016 Thursday ,01 December

Hyundai allows Saudi journalists
Arab Today, arab today Latest Infiniti QX to compete

GMT 13:16 2016 Saturday ,26 November

Latest Infiniti QX to compete
Arab Today, arab today Trump, politics on the mind

GMT 12:58 2016 Friday ,02 December

Trump, politics on the mind
Arab Today, arab today Green groups pressure Spain

GMT 13:01 2016 Thursday ,01 December

Green groups pressure Spain

GMT 11:44 2016 Thursday ,01 December

Austria's race against time

GMT 08:00 2016 Saturday ,03 December

For Yazidi women left behind

GMT 04:15 2016 Thursday ,30 June

World's largest uncut diamond fails

GMT 13:01 2016 Tuesday ,29 November

Car manufacturers to power Europe

GMT 15:59 2015 Wednesday ,27 May

Seoul elevates gardening to high art

GMT 12:39 2016 Saturday ,26 November

Skin patch could help kids

GMT 13:19 2016 Monday ,21 November

New nationalism stoking fears

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 09:53 2016 Sunday ,15 May

OMEGA official timekeepers
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Powered and Developed by FilmMatters

Copyright © 2016 Arabtoday

Developed by FilmMatters

© 2016 Arabtoday

arabtoday arabtoday arabtoday
arabtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabtoday, Arabtoday, Arabtoday