Kuwait bourse retreats 21.53 pts amid selling

Kuwait International bank was flat at KD 0.230 and Burgan Bank followed suit. Boubyan Bank paused at KD 0.435 and Ithmaar Bank inched 0.5 fils lower to 47 fils. Warba Bank held steady at KD 0.208.

Investment conglomerate KIPCO was unchanged at KD 0.610 and Securities House followed suit to end at 52 fils. Bayan Investment Co inched 0.5 fils and Al Deera Holding closed 1.5 fils lower.

KFIC gave up 2.5 fils and Sokouk Holding Co edged 1 fils higher. National Real Estate Co added 1 fils and Mabanee Co paused at KD 0.880. Ekitittab Holding Co dialed up 1 fils to close at 35 fils.

The bourse has been mixed so far during the week and has slipped 4 points in last four sessions. It has retreated 9 pts so far during the month and is trading 11781 pct lower year-todate. KSE, with 213 listed companies, is the second largest bourse in the region.

In the bourse related news, United Foodstuff Industries Group Co. has logged a net profit of KD 385,003 and earnings per share of 11.64 fils in the 9-month period ending Sept 30, 2015 down from net profit of KD 832,345 and earnings per share of 25.16 fils in the 9M, 2014.

Abyaar Real Estate Development Co has registered a net profit of KD 6,103 and earnings per share 0.01 fils for the nine-month period ended September 31, 2015 down sharply from net profit of KD 487,234 and earnings per share of 0.44 fils in the same period of 2014.

Tamdeen Real Estate Company as clocked a net profit of over KD 9 million and earnings per share of 22.6 fils in the nine-month period ending Sept 30, 2015, climbing from net profit of KD 6.61 million and earnings per share of 16.4 fils in the year before period.

Securities Group Company has recorded a net profit of KD 2.47 million and earnings per share of 9.69 fils in the six-month period ending Sept 31, 2015 as compared to net profit of KD 2.57 million and earnings per share of 10.09 fils in the year before period.

Qurain Petrochemical Industries Co has posted a net profit of KD 6.61 million and earnings per share of 6.31 fils in the nine-month period ending September 30, 2015 as against net profit of KD 14.76 and earnings per share of 14.03 fils in the year before period.