Corporate positive reports boost KSE trading

Kuwait Stock Exchange (KSE) ended the past week trading with a record of four bullish sessions but closed bearishly, Al-Wasata Securities Company said in a report released on Saturday. It alluded upward trend of the market main indices, the price and weighted indexes, to traders' shift to stocks and operational companies, after banks disclosed positive results of the past week -- namely the National Bank of Kuwait which posted growth. Boubyan Bank had also declared growth of 31 percent for the past year, while Al-Ahli Bank of Kuwait recorded operational earnings, at nine percent compared to 2010. Investors tended to inject large volumes of funds into the market, buoyed by positive news about performance of the corporations and forecast about good performance of the operational companies. They targeted in particular cheap stocks, considering they are the safest refuge for re-circulation of their funds in the short term.