Tuesday, 27 November , 2018     |     1238      |      +      |     

Revealed: Top 10 companies in Kuwait in 2018

Revealed: Top 10 companies in Kuwait in 2018 : Google

Kuwait’s stock market emerged as one of the favourites in the first half of the year, mainly because of FTSE Russell’s decision to upgrade the index to secondary emerging market status.


Based on market performance, Boursa Kuwait stood out with registered gains (until September) of 9.1 per cent.

The second half of 2018 started on a positive note for GCC stock markets, with Kuwait emerging as the top performer among its regional peers. The performance of these markets was attributed to the strong performance of banking stocks across the Gulf.

Major banks in the region posted solid growth in earnings for Q2, with their profitability being boosted by rising interest rates, an uptick in economic activity, and increased government spending.

Kuwait’s blue chip companies, Kuwait Financial House (KFH) and National Bank of Kuwait (NBK) were the best performers, gaining 8.2 per cent and 8 per cent respectively.

TOP 10 KUWAIT COMPANIES BY MARKET CAP
(By market capitalisation as of September 11, 2018. Source: Reuters Eikon, Markaz Research)

1. National Bank of Kuwait

Market capitalisation: $16.94bn

Sector: Banking and Financial services

Change in ranking: 3

2. Kuwait Finance House

Market capitalisation: $12.36bn

Sector: Banking and Financial services

Change in ranking: 1

3. Mobile Telecommunications Company

Market capitalisation: $6.83bn

Sector: Telecommunication

Change in ranking: -3

4. Agility Public Warehousing Co

Market capitalisation: $4.42bn

Sector: Transportation

Change in ranking: -1

5. Boubyan Bank

Market capitalisation: $4.36bn

Sector: Banking and Financial services

Change in ranking: 2

6. Commercial Bank of Kuwait

Market capitalisation: $3.01bn

Sector: Banking and Financial services

Change in ranking: 13

7. Gulf Bank

Market capitalisation: $2.55bn

Sector: Banking and Financial services

Change in ranking: 0

8. Mabanee Company

Market capitalisation: $2.16bn

Sector: Real Estate

Change in ranking: -4

9. Ahli United Bank

Market capitalisation: $1.98bn

Sector: Banking and Financial services

Change in ranking: -14

10. Boubyan Petrochemical Company

Market capitalisation: $1.92bn

Sector: Industrial Conglomerates

Change in ranking: NA

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Category: #Business | 2018/11/27 latest update at 11:00 PM
Source : Gulf Business | Photocredit : Google
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