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KSE stocks face pressure

Kuwait’s equities ended Thursday’s session on a mixed note. The volume is light so far in February in the absence of news that cheer up investor sentiment. Elsewhere, sources revealed that the General Director of Kuwait Stock Exchange (KSE) Hamid Al-Saif requested authorities to resolve the issue of some companies which, contrary to their purposes listed in their Article of Association, practice the sale and purchase of listed shares.

Al-Saif suggested the closure of such accounts, and prevention of opening new accounts for those companies or other companies, according to an earlier decision to limit such practices to investment companies, banks, funds and companies that include in their principal activities purchase and sale of shares.

Spanish builder Obrascon Huarte Lain (OHL) has won its first contract in Kuwait with a 645.5 million euro ($873 million) order to build a viaduct in the country’s capital. OHL holds 48 percent of the winning consortium for the contract, part of the government’s program to improve traffic flows in the city of Kuwait, OHL said.

Global General Index (GGI) closed 0.67 points down(0.30 percent),at 218.76 point as the market capitalization dropped reaching KD35.56mn. On the other hand, Kuwait Stock Exchange Price Index closed in the green zone adding 5.90 points (0.09 percent) from its value and closed at 6,758.8 point.

(Source: kuwaittimes.net)