Mubasher: Reports on the possibility of upgrading Boursa Kuwait to the FTSE Emerging Markets Index in September is likely to significantly increase turnover and foreign investments in the market, a new report showed.
Both the rise in oil prices beyond the $52-per barrel mark and the announcement that Oman Telecommunications (Omantel) has acquired a 9.84% stake in Kuwait’s Mobile Telecommunications (Zain) have bolstered Boursa Kuwait’s performance, a report by Bayan Investment indicated.
Last week, Boursa Kuwait’s three indices rose after a buying spree on several leading stocks in various sectors, the report showed.
Boursa Kuwait gained over KWD 400 million over the last five sessions, bringing the total value of shares listed on the main market to KWD 27.75 billion by the end of trading on Thursday, up 1.74% from KWD 27.28 billion the week before.
A total of 130 companies have so far disclosed their financial results for the second quarter and first six months of 2017, representing 81% of Boursa Kuwait’s main market-listed companies.
Combined, the 130 firms have recorded KWD 927 million in profits in H1-17, up 14% from figures recorded in the year-ago period in 2016.
Boursa Kuwait has a total of 161 listed companies.
