11/07/2016
«The Economic» from Riyadh
Kuwait Stock Exchange has scored gains in the last trading week before Eid al Fitr holiday amid limited movements in general, with low levels of currency amid buying processes and focusing on inactive stocks and collections.
According to the Kuwait News Agency "KUNA", caution was evident on the Stock amid declining currency to rates that reflect the absence of active participation from a broad segment of investors.
The report also pointed that some financial portfolios and investment funds of the major groups that play the role of a market maker have preferred to keep cash as it used to in times like this, waiting for the start of the quarterly announcements of the second quarter.
He added that cases of fluctuation, rapid profit taking and exchange continued its control of the movement of trading, especially with the growing anticipation for signs of data of listed companies of their work in the second quarter that will come successively in the sessions directly after Eid al Fitr holiday.
The report prepared by Al Ula company of Brokerage has pointed to many of the operational stock activities pushed by the selling pressure, which included banking stocks, while the activity persists at groups that scored gains in the recently while other stocks groups have gone under pressures.
He said that some of the ads contributed to increase investment interest in some stocks, most prominently for Burgan Bank obtaining the central bank approval in Ireland to establish a program of Euro Medium Term with a value of $ 1.5 billion that will issue debt documents that are not guaranteed in the first place.
Kuwait Stock Exchange has closed trading last Monday with a high score with its three major indexes as 20.57 points to a price to reach the level of 5389 points and 0.41 points to 3.38 points and the weighted index for "Kuwait 15".
