Arab Today, arab today kuwaiti bourse trading value hits 44month high
Last Updated : GMT 02:56:36
Arab Today, arab today
Arab Today, arab today

Kuwaiti bourse trading value hits 44-month high

Arab Today, arab today

Arab Today, arab today Kuwaiti bourse trading value hits 44-month high

Dubai - Arabstoday

Kuwait\'s bourse resumed its rally and trading value surged to a 44-month high yesterday, backed by investors\' sense that the economic and political environment for the country is improving. Most other regional markets rose. The Kuwaiti index added 0.6 percent, nearing a 43-month peak hit earlier this week; it is up 30.9 percent this year. Total turnover rose to 169 million dinars ($ 594.3 million), the highest daily figure since September 2009, according to bourse data. That figure outstripped combined trading on all other Gulf bourses on Thursday; Saudi Arabia, the region\'s largest market, is closed for the weekend. \"It\'s clear there is money coming in from outside of Kuwait - trading values are supportive of new foreign investors,\" said Fouad Darwish, head of brokerage services at Global Investment House. \"The new levels in the market indicate new players - portfolios from abroad and other government-related portfolios because of the economic gain.\" Kuwaiti companies, led by banks which represent more than 50 percent of market value, reported strong fourth-quarter earnings, helped by a recovery in stock prices. Stocks are usually held as collateral against loans. Although underlying political and social tensions in Kuwait have not disappeared, last year\'s vicious conflict between the cabinet and parliament has quieted down, allowing more economic policy-making to occur. The finance minister said last month that the government would spend $ 15.8-$ 17.5 billion on development projects in the next 12 months. Commercial Bank of Kuwait ended flat yesterday but accounted for more than half of total turnover. In the United Arab Emirates, heavyweight Dubai lender Emirates NBD led the rally in the emirate\'s benchmark, which advanced 0.7 percent to a fresh 42-month high. ENBD, the third-largest stock by market value, rose 4.3 percent to its highest close since November 2008. The lender is up 89 percent year-to-date, making it the index\'s best performer. A top official at state-owned investment firm Dubai Group yesterday announced plans to secure a final agreement within weeks on its $ 10 billion debt restructuring. ENBD is one of the biggest creditors of Dubai Group. \"Dubai debt has performed exceptionally well in the last 15 months and the restructuring approval will be another factor in continuing that trend,\" said Abdul Kadir Hussain, chief executive and fund manager at Mashreq Capital. \"We’ve had an impressive rally in equities this year already, and a lot of that has been a catch-up in the rally on debt and reduction in credit risk. You\'ll see it continue to rise but not at the same pace as before.\" Abu Dhabi\'s index climbed 0.8 percent. The index is back at November 2008 levels but still 34 percent below its peak in June of the same year. Elsewhere, Qatar\'s bourse slipped 0.1 percent to 8,848 points, easing off Wednesday\'s 13-month high. It faces major technical resistance between 8,875 and 8,910, its peaks in early 2012. Oman\'s benchmark gained 0.4 percent, while Egypt\'s main index moved little. 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 kuwaiti bourse trading value hits 44month high Arab Today, arab today kuwaiti bourse trading value hits 44month high

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 13:43 2017 Sunday ,19 February

Local institutional buying lifts Oman shares higher

GMT 15:33 2017 Saturday ,18 February

Lock-up shares worth 39 bln yuan eligible for trade

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week

GMT 09:15 2017 Friday ,17 February

Asia stocks retreat after week-long Trump rally

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday

GMT 21:18 2017 Thursday ,16 February

Chinese Yuan Strengthens to 6.8632 Against USD Wednesday
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
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
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday