POMSoX UPDATE

Due to technical difficulties yesterday we were not able to have a report for you today. Apologies for any inconvenience caused.

POMSoX UPDATE

LOCAL STOCKS

The bourse on Thursday had a relatively calm day with reasonable volumes changing hands for BSP. BSP saw a late rally, surging 6.66 percent to close at K0.80. While LGL and NBO ended the week flat at K8.00 and K18.00 respectively. IOC registered last trade at US$75.87.

In commodities, gold jumped 0.91 percent to close at US$1104 per ounce likewise oil closed stronger above the US$75.00 mark.

The market is expected to have calm sessions through the holiday period, with offers for CCP as low as K1.77 as bidders for HIG are queuing up at a high K0.80.

MOVERS
Last Thursday’s movers on the local bourse 24/12/09:
BSP: 6.66%

POMSoX UPDATE

THURSDAY 24th DECEMBER 2009

LOCAL NEWS

Yesterday, the bourse closed active again with reasonable volumes changing hands for BSP and LGL. NGE dropped 10 toeas tracking a stronger US dollar pushing the commodity prices lower previously. While OSH finished slightly up at K14.00. IOC continued to surge on the back of signing of the LNG project with the State.

The market may finish relatively flat as per leads from overseas. As our kina this morning is buying 0.4423 and selling at 0.4004 aussie.

MOVERS
Yesterday’s movers on the local bourse 23/12/09:
CGA: -3.17%
NBO: 2.85%
NGE: -20.00%
OSH: 0.07%

POMSoX UPDATE

LOCAL NEWS

The KSi fell 4.77 percent to end the day at 6271 yesterday, on the back of weaker performances from LGL and OSH closing at K8.00 and K12.10 respectively. Diversified Financial also finished slightly weaker at K1.78. IOC on the NYSE ended the day at US$71.70.

Gold lost its appeal an alternative investment after the green back continued to surge against most of the major currencies. Likewise oil tracking the stronger dollar to close at US$72.47 per barrel.

The opening phase of the market this morning had CPL open the day at K2.45. Our Kina this morning is buying 0.4421 while selling at 0.4002.

In company news, IOC reported the scheduled signing between the State and IOC to initiate another LNG project.

MOVERS
Monday’s movers on the local bourse 21/12/09:
CCP: -0.55
LGL: -0.12%
OSH: -13.44%

POMSoX UPDATE

LOCAL NEWS

The bourse finished relatively active last Friday with reasonable volumes being traded. BSP and HIG were the major movers with 1.35 and 12.50 percent jumps. While OSH finished marginally weak at K13.98, in overseas saw IOC closed at US$66.10 with a day’s high of US$71.22.

The markets were generally stronger on the back of positive signals from two major tech companies that business was improving, lifting hopes about business spending. On which the US dollar pared its gains.

The pre open phase of the market this morning has shares available for BSP at K0.75 while NBO sellers are lined up at a low K18.00. Kina this morning is buying 0.4371 and selling 0.3957 aussie.

MOVERS
Last Friday’s movers on the local bourse 18/12/09:
BSP: 1.35%
BSPHA: 0.56%
HIG: 12.50%
NBO: 0.57%
OSH: -0.07%

POMSoX UPDATE

LOCAL STOCKS

The local bourse closed relatively active with BSP registering trades at K0.74 with a day’s high of K0.75. HIG on the other hand dropped 11 percent to close at K0.80, while CPL finished steady at K2.45 on light volumes. KSi edged higher by 5 percent to conclude the day at 6570 points.

No other company news, but the market looks to gain on trading momentum as the festive season nears. The market may have a lower start today with negative leads from overseas. Kina this morning is buying 0.4386 and selling 0.3970 aussie.

MOVERS
Yesterday’s movers on the local bourse 17/12/09:
HIG: -11.11%
OSH: 0.28%

BSP purchase of Commonwealth Bank's Fiji Operation

BSP yesterday announced that they have received all necessary regulatory consents to proceed to completion of the purchase of Commonwealth Bank's Fiji operations.

POMSoX UPDATE

LOCAL STOCKS

Generally the international markets closed higher on the back of Dubai’s bailout by Abu Dhabi, this also prompted the commodities to end on higher note, although on light volumes. The local bourse yesterday finished flat with BSP, CCP and HIG concluding the day steady, while OSH and NBO fell 5 and 6 percent respectively.

The pre-open phase of the market has sellers for HIG shares lined up at K0.90 and OSH shares are available as low as K14.00. Our kina this morning opened lower buying aussie at 0.4275 while selling at 0.3870.

MOVERS
Yesterday’s movers on the local bourse 14/12/09:
NBO: -5.29%
OSH: -6.73%

Market Commentaries

Bank South Pacific
BSP continues to increase its exposure in the South Pacific region as it acquires Colonial National Bank in Fiji. The stock has been trading between 70t and 73t for some time but it is finding a new level around 75t. Trading has been quite active and the stock is rallying from its lows. A number of reports place the stock price at K1.00 in one year. We believe BSP will return around 30% over the next twelve months. Our price target is K0.95. Our recommendation is BUY.

Credit Corporation
Credit Corporation shares have traded between K1.75 and K1.80 in November. Trading was irregular apart from a 9,000,000 crossing by BSP Capital at K1.75. We have seen some additional buying interest, mostly due to a recent Nasfund report that valued CCP at around K2.40. As you know CCP is held tightly and it is hard to flush out any selling. We believe the stock will move in a range between K1.80 to k2.20 over the next 6 months. Our recommendation is BUY.

City Pharmacy Limited (CPL)
CPL opened new pharmacy outlets in Alotau and Kokopo and is supplying pharmacy products to four locations with properties leased by Post PNG. The company has other exciting projects coming up including a new pharmacy outlet at Vision City and a new supermarket at Badili in Port Moresby. Meanwhile the Kavieng pharmacy outlet will increase its floor space by three. Its hardware business adopted an exciting Kit Home concept from Europe to address the housing needs in PNG. The stock was trading fairly at K2.50 for all month round with light volumes changing hands. But we view the stock price is lagging behind its profit growth. The target price in one year is K3.20. It is with this in mind that we continue to recommend as a STRONG BUY.

Airlines PNG
Bid and offer remain fairly active, however no trading has occurred during the month. The market is bid 63t and offered 64t. We are hearing various views on APNG with the majority on the negative side. It has recently leased a Dash 8 aircraft to the Solomon Islands that leads us to believe aircraft are underutilized. Many employees have departed over the past 12 months which may lead to lower costs. Conversely, concerns may arise through maintenance and management issues. We are negative on the stock and the heavy selling pressure multiplied by a falling share price will do APNG no favors. Our recommendation is SELL.

New Britain Palm Oil
New Britain Palm Oil has released encouraging third quarter operating results and trading updates. Productions of crude palm and kernel oil increased by 14% to 273,354 tonnes compared to the same period last year. The stock has risen to K18.00 with solid buying support both locally and in the UK market. Prices in the first 9 months of the year for palm oil have ranged between US$530 to US$825 per tonne. NBPOL has averaged US$717 per tonne in the first three quarters for crude palm oil. The majority of the fourth quarter’s production of crude palm oil has been sold at an average price of US$694. The UK palm oil refinery will commence operations around April 2010. It will further consolidate NBPOL as a leader in the sector. We are happy to recommend the stock as a BUY.

Lihir Gold Limited
LGL released its third quarter production report at the end of October. It had quarterly gold production of 233,000 oz. Year to date production is 845,000 ozs and the company is on track to achieve record full year production of 1-1.2million ozs. Reserves increased by 7.5million ozs to 28.8million ozs. A maiden interim dividend of US1.5 cents per share was announced. The gold price rose 13.2% over the month to US$1177 and continues to rise. Quarterly production exceeded guidance for the quarter. The MOPU and Interim Power Station project is on schedule and on budget. The project will cost $315million and $142million has been outlaid so far. We have been advising investors to reduce 25% of their gold exposures and to book some profits. LGL is slightly different in that it is both increasing production and lowering costs substantially. We are going to stay the course for another three months before we take a further look at Lihir Gold. Our recommendation is HOLD.

Oil Search Limited
After the successful completion of the A$895million Institutional Placement, we believe OSH is well placed for its future cash requirements. PNG LNG project entered into a Heads of Agreement with Unipec Asia Co Ltd, a subsidiary of China Petroleum and Chemical Cooperation (Sinopec). It is for a long term supply of 2 million tonnes of liquefied natural gas (LNG). Oil Search as a major partner will directly benefit from the supply agreement. During the month the stock traded between A$5.52 and A$6.12 on the ASX and between K13.00 and K15.50 on POMSoX before closing at A$5.70 on the ASX and K. With the Benefits Sharing Agreement about to be completed and the Final Investments Decision (FID) scheduled for 8 December, the stock is expected to rally. OSH continues to represent a long term investment in to the PNG oil and gas industry. It is with this in mind that we maintain our recommendation as a BUY.

Highlands Pacific Limited
Progress on Highlands Pacific Ltd’s (HIG) interests in Ramu Nickel, Frieda River and the Nong River projects have shown steady progress over the month. The Ramu Nickel project is fully funded and commissioning of various ancillary parts of the plant has already commenced. There is likely to be staged commissioning which will continue throughout the early part of 2010. Pre-feasibility studies on the Frieda River project continue to show impressive results with an upgraded resource model expected in December 2009. The pre-feasibility study is expected to be completed in mid 2010. HIG has renewed its Tifalmin exploration licence with funding of US$3.0m while HIG is in negotiation with Xstrata on a possible joint venture agreement on the Nong River exploration licence. Both licence areas are located 20km from the Ok Tedi Mine site. With expected resource upgrades in Frieda and the efficient progress in Ramu, we expect HIG to increase gradually with a rally in the second half of 2010. In November the stock closed at 36 cents on the ASX and 96t on the POMSOX after reaching a high of 45 cents on the ASX. Our recommendation is a BUY.

Westpac Banking Group
The Bank has released encouraging news on its second half yearly performances portraying 2% sequential rise in profit at the back of increased business loans and consumer’s credit as well as increases in bank fees and charges. Although the lending margin has been shrinking, housing loans are not suffering greatly. The global financial crisis will soon be history as banking stocks are performing well above the required level. The stock was trading on ASX between $23.03 and $26.78 and closed the month at A$24.14.
National Australia Bank
Trading was active on the market as substantial volumes changed hands. In November the stock traded between $30.39 and $26.81 and closed at $28.26 on ASX. The outlook is promising as business confidence edges higher led by construction activities. Long term lending rates set to be unchanged and this provides a unique opportunity for the bank to increase its lending margin. We anticipate the stock to perform better in the next 30 days.

Australia New Zealand Bank
The ANZ Bank has released its financial report for the year ending 2009 with profits tumbling 11% to $2,943 million, although and far better performance than the previous corresponding period. The shareholders who participated in a Share Purchase Plan initially issued at $14.40 per share in July to the retail shareholders have made 54% gains on investments in five months after ANZ’s share price closed in November at $22.15. ANZ has invested heavily into income generating assets in the last year and we expect profits to increase within the next 12 to 18 months. Our recommendation is a BUY.

Commonwealth Bank of Australia
Trading was active with substantial volumes changing hands during the month. Investors maintained the market price between $50 and $55 on ASX with the price closing at $52.80 at month end. The bank’s outlook is promising due to increased lending through offshore issuance and favorable domestic interest rates which are up by 25 basis points to 3.75%. We expect the stock to continue trading within this price range for remainder of the year. Our recommendation is HOLD.

Marengo Mining Ltd
The stock was on a down-turn trading between 18 cents and 16 cents on ASX and 50t and 56t on POMSoX as too many resources stocks has been grossly undersold. Marengo Gold announced the raising of A$421.7 million to fund the Yandera Copper Gold project. The details of the Yandera Copper Gold project are expected to be announced in December. We have a SPECULATIVE BUY recommendation on Marengo.



Ord River Resources Ltd
Trading was fairly active with a strong start early in the month at 7.1 cents, but the price tumbled toward the end to close at 5.2 cents on ASX. The price is anticipated to recede as Copper Flat Exploration in Western Australia has been delayed due to wet weather.

Allied Gold Ltd
Allied Gold (ALD) acquired Australian Solomon Gold (ASG) in November and has taken control of all its operations. Fears of lower earnings per share may have pushed the price lower to close at 39.5 cents as the company issued new shares to raise capital to complete the takeover. The stock opened high at 41 cents and steadied lower to 35 cents after reaching high to close at 48 cents. Probability of expansion and growth is high with number of projects ASG is embarking on including ALD own record gold production at Semberi. We recommend investors HOLD their shares.

New Guinea Energy Ltd
New Guinea Energy (NGE) has done a private placement with sophisticated investors to raise A$18.5 million to fund its exploration activities in the Western forelands of PNG. The stock performed with mixed results opening at 19 cents and increasing to 22.5 cents before closing lower at 15.5 cents. NGE has farmed out its PPL 267 and 268 to Talisman Energy Limited for US$55 million. The exploration areas are estimated to contain approximately 3 billion mmboe. We view this stock as a tool for growth and urge investors to be there early. Our recommendation is a BUY.



Call us on (+675) 321 4333 and speak to one of our client advisors

POMSoX UPDATE

LOCAL STOCKS

Last week Friday saw the local market closed active with almost all the trading stocks registering trades; BSP and OSH were the highlights finishing stronger at K0.74 and K15.00 respectively. While on the NYSE IOC closed at US$70.33 reaching a high of US$70.55. Gold was down by 0.59 percent to US$1120 per ounce likewise oil finishing just under US$70.00 per barrel.

This morning should have the market open flat with mixed leads from overseas. BSP shares are available at K0.74 while buyers for HIG are bidding as high as K0.80.

MOVERS
Friday’s movers on the bourse 11/12/09:
BSP: 4.22%
OSH: 7.14%

POMSoX UPDATE

LOCAL STOCKS

Thursday had the KSi rose slightly, up by 0.99 pts to end at 6,552. BSP and HIG were the movers yesterday with BSP finishing the day weaker at K0.71 while HIG ended on the upside gaining 8.88 percent to close at K0.98. LGL on the ASX concluded trading at A$3.19 riding on a falling gold price.

In commodities, had gold climb 0.49 percent US$1126 per ounce as spot crude oil ended lower registering a close at US$70.55 per barrel.

This morning, the market is expected to open flat with shares for BSP available at K0.71 and CPL offers are at a low K2.45.

MOVERS
Yesterday’s movers on the local market 10/12/09:
BSP: -1.38%
HIG: 8.88%

POMSoX UPDATE

LOCAL STOCKS

Yesterday saw the local market closed quiet with light volumes changing hands for BSP and HIG ending the day at K0.74 and K0.90 respectively. While in London had NBPO advanced 6 percent to finish stronger to GBP3.95 which is equivalent to K18.23 as IOC edged higher concluding the day at US$62.30 on the NYSE.

On the commodities front, saw oil and gold closed weaker with Gold price settling at US$1164.00 per ounce as crude slid 2 percent.

This morning in the pre open phase has bids for LGL as high as K8.00 while sellers are queuing up at K8.30. We should expect the market to open lower riding on negative leads from the international markets.

MOVERS
All of the stocks closed flat yesterday.

Marengo Minning European Investor Presentation

Marengo Mining released an Investor presentaion outlining the overall operations and an update on its Yandera prospects in Madang Province, Papua New Guinea.

MSTG Equity & Debt Placement Correction

Metal Storm previously announced today that the Company has negotiated an immediate small equity placement to provide carry forward funding. It was stated in that announcement that documentation for this is expected to be completed today.

The Company wishes to correct this. The funding and documentation in respect of this is expected to commence today. The Company will advise the market further when this facility is completed or when there is further material progress in this matter.

As stated in the previous announcement the Company now expects to receive the First Tranche funding in the AFHL equity and debt placement by 7pm (Brisbane) Tuesday, 8December 2009.

Source: Metal Storm Limited

POMSoX UPDATE

LOCAL STOCKS

The KSi closed slightly higher yesterday, advancing 0.16 percent to 6728 points. Trading was active with most of the major trading stocks witnessing trades. The movers of the day included BSP and NBO finishing respectively at K0.74 and K17.00. IOC closed weaker at US$61.51 on the NYSE.

The market may open flat due to mixed leads from the international markets, with bids for BSP at a high K0.72 in the pre open phase and sellers for NGP are lined up as low as K1.71. The kina is up this morning and is buying 0.4284 and selling 0.3887 aussie.

MOVERS
Yesterday’s movers on the local bourse 02/12/09:
BSP: -1.33%
NBO: 6.11%

POMSoX UPDATE

LOCAL STOCKS

Tuesday had the market close relatively active with reasonable volumes changing hands, with BSP and NBO ending the day in positive territory. On the downside was HIG finishing weaker at K0.90; while the others closed steady. Resulting in the KSi closing marginally in the black gaining 0.29 percent (6721).

In commodities, saw the precious metal climbing 18 dollars to register a close at US$1200 per ounce, likewise did Crude advancing 1.41 percent to finish at US$78.16 per barrel. This all was supported by a weakened US dollar.

This morning may also see a reasonably active day of trading with positive leads from overseas. The sellers for CCP in pre-open phase of the market today are queued at K1.80, as bids for OSH are lined up as high as K14.99. In currency news, our kina this morning is buying aussie at 0.4288 while selling 0.3882.

MOVERS
Monday’s movers on the local bourse 01/12/09:
BSP: 1.38%
HIG: -5.26%
NBO: 6.25%

POMSoX UPDATE

LOCAL STOCKS

The local bourse closed lower yesterday with light volumes changing hands for BSP, HIG, MGO, NBO and OSH. BSP share price plummeted by 4 percent after strong finish on the previous trade. HIG also plummeted meanwhile OSH had a massive gain of 7.14 percent. Other common stocks remain unchanged as of last trade.

The market this morning may open high at the back of good news coming out of debt strapped Dubai World after the UAE government announced that it will back Dubai to repay its debts. The US dollar is down by 3 cents.

The KSI closed higher, up by 144.60 points to close at 6,702.26. NGE shares are on bid on the local bourse at a low of K0.450. Our Kina this morning is buying at 0.4330and 0.3919 aussie.

MOVERS
Friday’s movers on the local bourse 1/12/09:
BSP: -4.00%
HIG: -1.04%
OSH: +7.14%
KSI: +2.12%

POMSoX UPDATE

MONDAY 30th NOVEMBER 2009

LOCAL STOCKS

On Friday the local bourse closed slight higher despite global stock markets tumbled with high number of volumes changed hands for CPL. NBO, HIG and CPL were down by certain points while BSP gained 4.16 percent.

The market this morning may open high despite the fall last week Friday at the back of Dubai news on credit default. Good news on the market at the moment with Dubai World funds held by Europe gives confidence.

NGE shares are on offer at K0.45. The KSI closed slight higher up by 0.15 percent to 5,557.66. Our kina this morning is buying at 0.4342 and selling at 0.3930 aussie.

MOVERS
Tuesday’s movers on the local bourse 30/11/2009:
BSP: + 4.16%
CPL: - 1.60%
HIG: - 2.04
NBO - 5.88
KSI: + 0.15%

POMSoX UPDATE

FRIDAY 27th NOVEMBER 2009

LOCAL STOCKS

On Thursday the local bourse closed lower with lighter volumes changing hands for BSP, BSPHA, HIG, LGL and OSH. BSP and OSH were down by 1.36 and 6.66 percent respectively while others remain unchanged as of last trade. A 231 BSP Notes were traded yesterday on the market.

The market this morning may open high after Wall Street open today for business after closing yesterday for Thanks giving holiday overnight.

The KSI was up by 12.35 points to close at 6,711.66. Our Kina this morning is buying at 0.4395 and selling at 0.3906 aussie.

MOVERS
Tuesday’s movers on the local bourse 24/11/2009 BSP: - 1.36%
OSH: - 6.66%
KSI: + 0.18%

POMSOX Update

THURSDAY 26th NOVEMBER 2009

LOCAL STOCKS

The local bourse closed high yesterday with substantial number of volumes changing hands for BSP, NBO and OSH with others trailing behind. BSP gained 2.81 percent while OSH gained 0.06 percent after weak finish yesterday. Other stocks remain unchanged as of last trade. NBO in London ended the day stronger at £3.825 gaining 2.5 percent.



The market this morning may open high on the back of continued positive leads from the overseas markets. Encouraging economic data from US edged up US stocks, however, US dollar tumbled by 0.7% to an almost 15 -months low against basket of currencies . Mining, oil and gas companies are expected perform better today at the back of depreciating US currency.

Kina this morning is up buying 0.4315 and selling 0.3906 aussie.

LOCAL NEWS

LGL: Lihir Gold Limited (LGL) declared an interim dividend of US$0.015 (1.5 US cents) per ordinary share on 29th October 2009.

MSTG: Metal Storm has announced the equity and debt subscription agreement for an investment of US$35 million by Assure Fast Holdings Limited.

MOVERS

Yesterday move on the local bourse 25/11/2009:

BSP: 2.81%

OSH: 0.06%

POMSoX UPDATE

LOCAL STOCKS

On Tuesday saw the bourse closed lower with light volumes changing hands for BSP shares. BSP slide by 1.38 percent after strong finish last week. Other stocks remain unchanged as of last trade. IOC in US ended the day stronger at US$50.25 gaining 4 cents.

The market this morning may open flat on the back of continued negative leads from the overseas market with weaker results from the Q3 GDP data and consumer spending. On the local market this morning has CPL shares on offer at K2.50. While in the currency front, our Kina this morning is buying 0.4315 and selling 0.3906 aussie.

MOVERS
Tuesday’s movers on the local bourse 24/11/09:
BSP:-1.38%

POMSoX UPDATE

LOCAL STOCKS

On Friday saw the bourse closed lower with light volumes changing hands for BSP, CCP and OSH. BSP after a week’s slide finished stronger by 1.40 percent while the others finished unchanged. IOC in US ended the day weaker at US$50.21 losing 44 cents.

The market this morning may open flat on the back of negative leads from the overseas markets. After weaker than expected results from the housing sector. KAM shares are on offer on the local bourse at a low K1.13. Our Kina this morning is up buying 0.4333 and selling 0.3922 aussie.

MOVERS
Friday’s movers on the local bourse 20/11/09:
BSP:1.40%

POMSoX UPDATE

LOCAL STOCKS

The KSi was down 271 points to close at 6177 points yesterday; with BSP losing 1.36 percent on reasonable volumes, likewise did NBO dropping a kina to finish the day at K17.00; while NBO on the LSE ended at GBP3.75 gaining from previous close.

The market today will may open flat with mixed leads from overseas; with bids for CPL are at a high of K2.45 buyers for LGL are queued up at K6.30. In currency news, our kina this morning is buying 0.4370 and selling 0.3956 aussie.

PNG NEWS
NBO: New Britain Palm oil reported that it has signed a 2 year supply agreement with United biscuits a biscuit company in United Kingdom.

MOVERS
Yesterday’s movers on the local bourse 03/11/09:
BSP: -1.36%
CCP: -0.55%
NBO: -5.55%
OSH: -10.00%

POMSoX UPDATE

LOCAL STOCKS

The local KSi finished flat on Friday as the market ended the week on a calm note with CPL being the only mover on the local bourse closing slightly higher to end at K2.52. IOC slid on the NYSE to finish above the US$50 level with a day’s high of US$52.50.

Resources had gold finished lower on the back of stronger US dollar performance against most of the major currencies. Likewise oil finished weaker by 65 cents to US$81.19 per barrel.

This morning has bids for CPL at a high K2.52 while sellers for LGL are at a low K8.00, and is expected to pick up momentum as the day ends.

PNG NEWS
NBO: New Britain Palm oil announced on Friday to pay an interim dividend of K0.31 on the 16th November the record date is on the 30th October 2009.

MOVERS
Last Friday’s movers on the local market 23/10/09:
CPL: 0.39%

POMSoX UPDATE

LOCAL STOCKS

Wednesday had the local share market closed slightly higher with the KSi adding 4 points to finish at 6749. CCP rose 5 percent to end at K1.87 with a reasonable volume, while others finished unchanged. IOC in the NYSE continued surge last night finishing 1.9 percent stronger at US$52.76.

On the resources front gold posted a 6 dollar gain to end at US$1065 per ounce while oil climbed 2.26 percent to close at US$80.91 per barrel.

The market in the pre-open phase of the market has offers available at K2.55 and bidders are as high as K16.00 for OSH. Our kina is buying 0.4251 and selling 0.3848 aussie opening weaker this morning.

MOVERS
Mid week movers on the bourse 21/10/09:
CCP: 5.05%

POMSoX UPDATE

LOCAL STOCKS

Thursday had the market finish quite steady with the KSi advancing 4 percent to 6,740points. BSP slid losing a percent to close at K0.75 while the resource components HIG and LGL rose on surging commodity prices. And OSH fell nearly 6 percent to K16.00.

In Commodities saw gold dropped US$14.00 to close at US$1051 per ounce as oil closed stronger at US$77.77 per barrel.

The local index may still continue to remain steady today tracking the international markets and on the back of a stable local economy. The kina this morning is buying 0.4274 and selling 0.3869 aussie.

MOVERS
Thursday’s movers on the market 15/10/09:
BSP: -1.31%
HIG: 18.18%
LGL: 20.00%
OSH: -5.88%

POMSoX UPDATE

LOCAL STOCKS

The KSi closed lower yesterday, down 59 points to 6,474.67 as CCP and OSH fell 0.55 and 2.85 percent respectively. BSP and KAM ended unchanged. While NBPO on the LSE finished twenty percent higher than previous at GBP3.70.

Gold closed at US$1065 per ounce while Oil rose 0.92 percent to end at US$75.80 per barrel.

Kina this morning is buying and selling aussie at 0.4304 and0.3896 respectively. The local bourse may track the international markets on positive news from the resources sector.

MOVERS
Markets mid week movers 14/10/09:
CCP: -0.55%
MGO: 108%
OSH: -2.85%

POMSoX UPDATE

LOCAL STOCKS

Tuesday had the market end on a calm note on light volumes; with the highlights of the day was NBO and OSH closing in positive territory at 8.57 and 9.37 percent respectively. Leading the KSi to finish 4 percent higher than previous.

In commodities, gold added 0.71 percent to US$1065 per ounce likewise oil steady above the US$70 mark per barrel.

The market this morning may open flat due to mixed leads from overseas, but may continue to close stronger on the back of positive news. Our kina this morning is buying 0.4312 and selling 0.3903 aussie.

PNG NEWS

MSTG: Metal storms released an announcement on its issue of new ordinary shares.

MOVERS
Tuesday’s movers on the local share market 13/10/09:
NBO: 8.57%
OSH: 9.37%

POMSoX UPDATE

LOCAL STOCKS

The market closed quiet with KSi losing 0.11 percent to end at 5829.15; BSP was the only mover on the market sliding 1.26 percent to close steady at K0.78 while the other stocks finished unchanged. NBPO on the LSE GBP3.85 as OSH finished at A$6.39 on the ASX.

In commodities last night saw the precious metal hit a record high of US$1044 per ounce likewise oil added 22 cents finishing at US$69.79 per barrel.

This morning has bids for MGO are at a high K0.52 while HIG has bids lined up at K0.36. The kina today is buying 0.4346 and selling 0.3934.

PNG NEWS

BSP: Bank South Pacific Limited reported yesterday that it agreed to buy Commonwealth Bank’s Fiji operations signing a Share Purchase agreement (SPA).

MGO: Marengo announced the dates of its annual meeting which will be held at The Celtic Club, 48 Ord Street, West Perth, Western Australia on Thursday, 5 November 2009 at 4:00 p.m.

MOVERS
Yesterday’s movers on the local share market 07/10/09:
BSP: -1.26%

POMSoX UPDATE

LOCAL STOCKS

Trading on the local bourse was quite active with trades registering for the trading companies; CCP closed marginally weak at K1.79 likewise NGP down 2.18 percent while LGL advanced 4.00 percent on the back of a stronger gold price. The broader KSi added 58 points to close at 5,835.42 yesterday.

In commodities the last night saw Gold gained US$22 to close at US$1040 per ounce as oil surged 0.56 percent to conclude trading at US$71.29.

Today may see the market open slightly higher riding on positive news from the trading companies. The kina this morning is buying 0.4336 and selling 0.3925 aussie.

PNG NEWS

CUE: Cue Energy released a report that Petro China finalized its purchase of Singapore Petroleum company Limited.

MOS: Mosaic Oil also reported successful completion of $10.9 million placement.

OSH: Oil Search limited yesterday released a presentation on the 2009 JP Morgan Australasian Conference.

MOVERS
Yesterday’s movers on the local bourse 06/10/09:
BSP: -1.25%
CCP: -0.55%
LGL: 4.00%
NBO: -5.26%
NGP: -2.18

POMSoX UPDATE

LOCAL STOCKS

The bourse was quiet yesterday with BSP as the only stock registering trades at K0.80 on reasonable volumes; while others finished unchanged. The KSi also concluded the day shedding 269.40 points to 5,777.88. In commodities oil edged over the US$70 mark while Gold closed at US$1016.40 per ounce.

This morning in the opening phase of the market has shares available for OSH at a low K15.45; Kina is buying 0.4397 and selling 0.3981 aussie.

MOVERS
Yesterday’s movers on the local bourse 05/10/09:
Nil movers

POMSoX UPDATE

LOCAL NEWS

Thursday saw the bourse finished ended steady with BSP registering a reasonable volume changing hands; OSH was the lone gainer on the local share market advancing 1.8 percent. NBO last night closed at GBP3.90 while on the local bourse it ended the day unchanged at K19.00.

In commodities, saw gold edged over the US$1,000 mark likewise oil maintained its spot price at US$70.48 per barrel.

Today in the opening phase of the market has bids for MGO as high as K0.52 and CPL shares are available at K2.45. The kina this morning is buying 0.4418 against the aussie while selling at 0.3999.

MOVERS:
Thursday’s movers on the bourse 01/10/09:
OSH: 1.79%

POMSoX UPDATE

LOCAL STOCKS

The local share market had a relatively active day with CPL finishing weak with trades going through at K2.45 so did LGL losing 24 toeas at K6.00 as OSH slid nearly 12 percent to K13.21. IOC gained 1.50 percent closing at US$39.28 reaching a day’s high of US$41.90.

In commodities last night saw oil surged nearly 6 percent to US$70.61 per barrel likewise gold ending US$15.00 higher from previous.

Trading momentum has picked up over the recent weeks with reasonable volumes changing hands on the back of positive news from the local economy. The Kina is buying 0.4338 while selling at 0.3927 aussie today.

MOVERS
Yesterday’s movers on the local bourse 30/09/09:
CPL: -2.00%
LGL: -3.84%
OSH: -11.93%

POMSoX UPDATE

LOCAL STOCKS

The local bourse closed active with BSP closing 2.50 percent weaker as HIG jumped 24.13 percent with trades registering at K0.36; and OSH finished steady at K15.00. The KSi fell 17.86 points to 8,105.08 points.

In Commodities, oil closed down 10 cents to US$66.61 per barrel while the precious metal ended marginally higher at US$994.00 per ounce

Sellers for BSP are lined up at K0.79 as offers for CCP and CPL are at a low K1.85 and K2.50 respectively. The kina this morning is buying 0.4400 and selling 0.3983 aussie.

MOVERS
Yesterday’s movers on the local bourse 29/09/09:
BSP: -2.50%
HIG: 24.13%

POMSoX UPDATE

TUESDAY 29th SEPTEMBER 2009

LOCAL STOCKS

Reasonable volumes changed hands for BSP at K0.80 as bids closed the day at a high K0.78; OSH also climbed 7.14 percent closing the day at K15.00 despite the commodity ending weaker in the markets. NBPO finished steady last night on the LSE at GBP3.90. KSi yesterday posted 3.02 percent gain to close at 5, 758.66.

The market today has sellers available at K5.75 while NGP offers are at a low K1.80. The Kina is buying 0.4394 and selling 0.3977 aussie.

PNG NEWS
COY: CopperMoly yesterday announced that the Shortfall from issue raises $1,515,245 to prepare for Nakru drilling programme.

CUE: Cue Energy resources also released its annual results for 2008.

MOVERS
Yesterday’s movers on the local bourse 28/09/09:
BSP: 1.26%
OSH: 7.14%

POMSoX UPDATE

LOCAL STOCKS
Last Friday saw BSP slid 1.25 percent with reasonable volumes while CPL ended marginally higher to K2.50; and buyers for HIG closed at K0.36. NBO on the local bourse closed unchanged while in London it gained 1.96 percent to GBP3.90.

This morning has bids for NGE as high as K0.50 while OSH bidders are queued up at a high K14.00 in the pre-open phase of the market. The kina is buying 0.4423 and selling 0.4003 aussie this morning.

MOVERS
Last Friday’s Movers 25/09/09:
BSP: -1.25%
CPL: 0.40%
KAM: 4.54%
OSH: -6.66%

POMSoX UPDATE

LOCAL STOCKS

Market closed active with trades for BSP rose 1.26 percent to end at K0.80 on reasonable volumes; while LGL climbed 4.00 percent likewise OSH jumped nearly 15 percent to conclude trading at K15.00. The KSi advanced 7.18 percent to 5,758.36 yesterday.

This morning due to a positive sentiment the market may continue to maintain previous levels. Our Kina is buying 0.4430 and selling at 0.4010 aussie.

PNG NEWS
CCP: Credit Corporation Limited announced its 1H 2009 report highlighting a 21 percent increase in its operating profit of K15.353 million and also the appointment of Mr. John Dunlop as one of the directors.

MGO: Marengo Mining yesterday reported that drilling commenced at its Kombruku prospect in Yandera.

MOVERS
Thursday’s movers on the local market 24/09/09:
BSP: 1.26%
CCP: -1.06%
LGL: 4.00%
NBO: 2.70%
OSH: 14.94%

POMSoX UPDATE

LOCAL STOCKS

Tuesday, saw the bourse ended relatively active with trades for CCP registering at K1.87 on light volumes; while NBO finished at K18.50 reaching a high of K19.00 for the day. IOC jumped 3.20 percent to US$40.03 on NYSE.

Pre-open phase of the market has offers for BSP at K0.79 while sellers for OSH are at a low K14.49.

MOVERS
Yesterday’s movers on the bourse 22/09/09:
CCP: -0.53%
NBO: -2.63%
OSH: 0.23%

POMSoX UPDATE

LOCAL STOCKS

The KSi closed high with 14.70 points to 5,436.54 yesterday; with BSP and CGA ending on the upside while KAM fell 4.34 percent and OSH finished marginally flat at K13.02. IOC fell 6.98 percent to US$38.79 reaching a high of US$40.19.

Today the market may open flat with mixed leads from overseas markets but momentum may gradually rise as we progress during the week.

PNG NEWS

CGA: Airlines of PNG have released a press release yesterday highlight their intention to apply for traffic rights to Asia.

MOVERS
Mondays’ risers and fallers on the local share market 21/09/09:
BSP: 1.28%
CGA: 8.33%
KAM: -4.34%
OSH: 0.07%

POMSoX UPDATE

LOCAL STOCKS

Friday saw the local bourse closed calm with NBO and BSP registering trades at K19.00 and K0.78 respectively. Sellers for KAM ended the day at K1.10; our broader KSi advanced 1.54 percent to conclude trading for the week at at 5,421.84.

The market may open higher today after positive leads from overseas markets; Our Kina is buying and selling at 0.4419 and 0.4000 Aussie.

PNG NEWS
OSH: Oil Search Limited released its drilling report on its assets in Lybia and Yemen.

MOVERS
Last Friday’s movers on the local bourse 18/09/09:
BSP: -1.26%
NBO: 11.69%
OSH: 3.17%

POMSoX UPDATE

LOCAL STOCKS

Trading activity was relatively quiet , with only a few trades go through for BSP at K0.79. OSH ended slightly higher adding 10 toeas to K12.61; While CGA and LGL closed unchanged. The KSi posted 28 points to finish higher at 5,339.50.
Today in the pre-open phase of the market had buyers queued up at K0.75 for BSP while a reasonable volume is available at K0.80.

PNG NEWS

CUE: Cue energy Resources limited yesterday released to the market an announcement on the appointment of Andrew Knox as the company’s director.

MOVERS
Thursday’s movers on the local bourse 17/09/09:
BSP: 1.28%
OSH: 0.79%

POMSoX UPDATE

LOCAL STOCKS

Trading on the local bourse was quiet with only NBO and OSH seeing trades at K19.00 and K12.70 respectively. Thus the KSi added 31.60 pts to end the day at 5,285.76; IOC fell 1.19 percent on the NYSE to US$29.80 while NBPO in London ended at GBP4.10 which is equivalent to K19.65 on the local market.

Trading momentum still remains steady with bids for BSP are lined up at K0.79 and sellers fro OSH are lined up at K14.50. Kina is opening the day at 0.4434 and selling at K0.4013;

PNG NEWS

The local bourse will not open tomorrow due to our 34th independence celebrations.

MOVERS
Yesterday’s movers on the local bourse 14/09/09:
NBO: 11.76%

POMSoX UPDATE

LOCAL STOCKS

Trading on the local bourse ended relatively active with trades for BSP registering at K0.80 while NBO witnessed stocks changing hands at K17.00; in resources OSH and LGL conclude unchanged at K12.70 and K5.90 respectively. Resulting in the KSi adding 28 points to 5,275.00.

The market is expected to open higher today with offers for BSP steady at K0.80 and LGL at K6.24. The kina is buying 0.4411 and selling 0.3993 aussie.

PNG NEWS
COY: Coppermoly released a report regarding its entitlements issue raising $535,137.

CUE: CUE Energy gave an update on its drilling in Spikey Beach 1- “Spikey Beach-1 (Beach earning 80% in Spikey Beach Farmout Blocks) spudded on 5th September and is currently at a depth of 816m. Current operation is installing 13 3/8” casing”.

MOVERS
Yesterday’s movers on the bourse 10/09/09:
BSP: -1.26%
NBO: 6.18%
NBO: 6.18%

POMSoX UPDATE

LOCAL STOCKS

Trading yesterday on the local bourse ended on a relatively calm note with BSP finishing steady at K0.79 as OSH advanced 3.25 percent to close at K12.70 with a reasonable volume. While NGP closed weaker at K1.84.

The market today may improve as reports are being released showing signs of economic stability. in currency news PGK is buying 0.4415 while the sell rate for Aussie today is 0.3997.

PNG NEWS

CPL: City Pharmacy Limited yesterday reported to the market their 1H results ending 30th June 2009. The results were steady in comparison to the previous corresponding period in 2008; revenues was up 1 percent while the net operating profit was down 25 percent to K2.687 million.

MOVERS
Risers and fallers yesterday on the local share market 09/09/09:
NGP: -0.54%
OSH: 3.25%

POMSoX UPDATE

LOCAL STOCKS

The local market finished on a calm note yesterday with BSP ending stronger at K0.78 while NBO slid 8.52 percent as it concluded trading at GBP3.82; OSH also tracked equities in Aussie closing higher at K12.30.

Trading on the local bourse may open flat and gradually rise riding on announcements from the trading companies;
The kina is buying 0.4451 and selling 0.4029 Aussie this morning.

PNG NEWS

BSP: the bank reported yesterday announcing its 1H 2009 report for the financial period highlighting a consolidated operating profit of K190.47 million for the half year, a slight increase on the consolidated operating profit of K185.83 recorded for the same year.

HIG: Highlands also released its half year accounts registering a Highlands Pacific Limited has today released its interim financial report for the half-year ended 30 June 2009. The result is a net operating profit of US$3.3 million.
The profit is attributable in large part to the gain on the sale of exploration licence 1277 to Barrick Gold Corporation (a transaction first signed in December 2007) and the gain on the sale of surplus properties in Madang, PNG.

OSH: Oil Search (Iraq) Ltd reports that the Shakal-1 exploration well in the Kurdistan Region of Iraq has reached its total depth of 3,037 meters. The well commenced drilling in October 2008.

MOVERS
Yesterdays’ movers on the local bourse 07/09/09:
BSP : 1.29%
NBO: -8.52%
OSH: 2.50%

POMSoX UPDATE

LOCAL STOCKS

Last Friday saw the market closed relatively active with OSH 40 toeas to close at K12.00 on light volumes. While BSP and CGA lost 1.28 and 4.41 percent respectively. Leading the KSi to finish slightly higher adding 50.02 points to 5,129.17.

Trading today may open flat with bids for BSP at a low K0.77 while bids for CPL are queued up at K2.49. The kina this morning is buying 0.4472 and selling 0.4048 Aussie.

MOVERS
Friday’s movers on the local bourse 04/09/09:
BSP: -1.28%
CGA: -4.41%
OSH: 3.44%

POMSoX UPDATE

LOCAL STOCKS

Nothing much happened on the bourse yesterday with BSP sliding 1.26 percent to close at 0.78; on the upside was OSH ending 3 percent higher finishing at K11.60. While MGO in the ASX jumped almost 80 percent concluding the day at A$0.185. The KSi closed slightly higher adding 35 points to 5,079.15.

Sellers for BSP are lined at a low K0.78 while shares for NBO are available at K17.00. The kina is buying 0.4536 and selling 0.4106 Aussie today. The momentum may slowly pick up as we progress through the day.

MOVERS
Thursday’s movers on the local bourse 03/09/09:
BSP: -1.26%
NBO: -2.85%
OSH: 3.01%

POMSoX UPDATE

LOCAL STOCKS

The market closed fairly calm yesterday with OSH ending in negative territory seeing trades at K11.26 while LGL and NBO closed on the upside. BSP again due to a large supply finished steady at K0.79 thus dragging the KSi down 152.49 points to end at 5,045.59.

The slide in the markets may be extended on the back of negative leads from overseas markets. The local market this morning has buyers for LGL at a high K5.90 and bids for NGP queued at K1.90. In currency news, kina is buying 0.4566 and selling 0.4133 Aussie today.

MOVERS
Yesterday’s movers on the local share market 02/09/09:
LGL: 3.50%
NBO: 2.94%
OSH: -10.63%

POMSoX UPDATE

LOCAL STOCKS

The Port Moresby Share market closed lower yesterday with relatively quiet trading on the bourse. Shares with CCP were slightly up 0.53% ending the day at K1.88 whilst the major drag on the market was BSP losing 1.29% closing the day at K0.80. The bank shares saw trades cross at a high K0.80 and a low of K0.79.

The broader KSI lost 11.55 points or 0.22 percent to close at 5, 335.95 yesterday. The PGK today is buying the AUD at K0.4526 & selling at K0.4097.

PNG NEWS
Credit Corporation paid a dividend of 5 toea per share on the 28 August 2009.

MOVERS
Monday’s movers on the local bourse 31/08/09;
BSP: -1.25%
CCP: 0.53%

POMSoX UPDATE

LOCAL STOCKS

Friday saw the market close higher rebounding from a weaker finish on Thursday gaining 3.64 percent to 5,347.50; BSP still maintained its level at K0.80 on light volumes. While LGL and OSH closed 5.93 and 12.00 percent respectively.

The market this morning should open stronger after the KSi ended in positive territory last Friday; the pre-open phase of the market has offers for CCP at K1.88 and on the currency front kina is buying 0.4534 and selling at 0.4104 Aussie.

PNG NEWS
CUE: Cue Energy Resources released to the market an announcement that Mr E.G. Albers has elected to resign as a director of Cue effective 5pm 4 September 2009. Geoff Albers founded Cue Energy Resources in 1981 and except for one year, has been a director of the company ever since, including being Chairman of the company for 19 years.

CUE: Weekly Drilling Report on Manaia-1 Appraisal Well was also released by Cue Energy Resources Limited.

MOVERS
Last Friday’s movers on the local bourse 28/08/09;
BSP: 1.25%
CGA: 4.61%
LGL: 5.93%
NAG: -5.12%
NBO: 2.34%
OSH: 12.00%

POMSoX UPDATE

LOCAL STOCKS

BSP declined 1.23 percent to close at K0.80 with light volumes; while OSH ended flat at K12.50 yesterday. Resulting in the KSi sliding 10 points to 5,249.95.

Today should see the market open flat with shares for CGA available at K0.68 and buyers for CPL are lined up at K2.49. Our Kina is higher today buying 0.4616 and selling at 0.4179 aussie.

MOVERS
Wednesday’s movers on the local bourse 26/0809:
BSP:-1.23%
OSH: 0.08%

POMSoX UPDATE

LOCAL STOCKS

Yesterday had the market finished flat with trades for BSP registering at K0.80 while OSH fell 1.65 percent with a reasonable volume. The newly listed stock New Guinea Islands Produce Company Ltd trading under ticker NAG also witnessed trades at K1.95.

This morning in the pre-open phase of the market has bids for OSH at K11.21 while offers for LGL are queued up at K6.25. The market may be off to a slow start today. PGK is buying 0.4577 and selling at 0.4143 aussie.

PNG NEWS

MGO: Marengo Mining reported yesterday that the company aims to distribute ordinary shares at C$0.086 in Canada to raise capital to fund the DFS at Yandera.

NGIP: New Guinea Islands Produce Company Limited yesterday listed on the local bourse trading under the ticker symbol NAG; a premier company in processing cocoa, and also exporting premium cocoa directly to manufacturing companies in US, Europe and Asia.

OSH: Oil search Limited yesterday reported that its profit dropped 73 percent: NPAT of US$35.6 million. Result was largely driven by lower oil prices.

MOVERS
Tuesday’s movers on the share market 25/08/09:
BSP: 0.84%
OSH: -1.65%

POMSoX UPDATE

LOCAL STOCKS

Yesterday saw the local KSi surge 3.64 percent to 5,280.79 following optimistic reports on housing data in the overseas markets. BSP ended higher at K0.81 with modest volumes as OSH jumped almost 9.5 percent to finish the day at K12.70 . IOC in the states finished at US$31.84 while our cross listed NBPO concluded trading at GBP3.90 in London.

Trading on the local markets this morning should open higher with positive sentiment from overseas; BSP offers still remain at K0.80 while LGL shares are at a low K5.90. Our Kina is buying at 0.4571 and selling at 0.4138 Aussie today.

PNG NEWS
In commodities, Gold fell$US11.00 to US$oz943.70, as copper closed higher at $USlb2.915 likewise oil posting 0.50 cents gain to US$74.37

MOVERS
Yesterday’s risers and fallers on the bourse 24/08/09:
BSP: 2.53%
LGL: -0.33%
NBO: -2.29%
OSH: 9.48%

POMSoX UPDATE

LOCAL STOCKS

The market ended the week lower on Friday despite gains in overseas; as BSP and LGL fell 2.46 and 1.33 percent respectively. OSH added 10 toeas to close at K11.60. the markets soared as economic reports flow, that manufacturing and housing should show biggest gains as small improvements signal recession's end.

Positive leads from overseas may have the market open higher today with shares for BSP are at K0.81 while sellers for OSH are as low as K12.70.

PNG NEWS

The kina is weaker this morning buying 0.4570 and selling at 0.4137 Aussie.

MOVERS
Last Friday’s movers on the market 21/08/09:
BSP: -2.46%
LGL: -1.33%
OSH: 0.85%

POMSoX UPDATE

LOCAL STOCKS

The KSi gained some territory adding 84 points to 5,123.48 on modest volumes after positive leads from overseas fueled by oil; NBO and OSH closed stronger at K17.00 and K11.50 respectively as BSP finished unchanged.

The market may open flat, with bids for BSP as high as K0.81 while sellers for NBO are at K17.00. Kina is buying 0.4606 and selling at a rate of 0.4169.

MOVERS
Yesterday’s movers on the local bourse 20/08/09:
NBO: 9.60%
OSH: 3.51%

POMSoX UPDATE

LOCAL STOCKS

Yesterday, saw the resources drive the markets up rebounding from a sharp fall in the equities market with better results from the retailers. While the local market performed weaker declining 2.23 percent to 5,039.54 riding on negative leads from overseas. The highlights of the day included NBO advancing 10.8 percent.

The market may open higher after the energy companies paced ahead on the news that oil inventories declined. The pre-open phase of the market has bids for MGO at K0.25.

PNG NEWS

In currency news, our Kina is buying 0.4638 and selling 0.4198 Aussie weakened by a stronger greenback.

MOVERS
Yesterdays’ gainers and losers on the market 19/08/09:
CCP: 0.53%
MGO: -3.84%
NBO: 10.78%

POMSoX UPDATE

LOCAL STOCKS

The local bourse ended on a calm note with light volumes changing hands, NBO and OSH gained territory closing at K17.90 and K12.00 respectively. While KAM finished unchanged at K1.15; with the release of the University of Michigan’s consumer sentiment survey weakened the major indices overseas.

The market is expected to open lower with negative leads offshore, BSP has sellers lined up at K0.81 while bids for MGO are at a high K0.24.

PNG NEWS

CPL: City Pharmacy Limited yesterday reported that Mr. Mahesh Patel has been appointed as the new Executive Chairman after the untimely death of Mr. Allan Jarvis earlier this year.

In currency news, kina is buying 0.4719 and 0.4272 Aussie.

MOVERS
Yesterday’s movers on the local bourse 17/08/09:
BSP: 1.25%
NBO: 8.09%
OSH: 8.01%

Oil Price find support at US$70

Oil price finds support at US$70.00 a barrel after renewed optimism that the global economy is stabilising.

POMSoX UPDATE

LOCAL STOCKS

The KSi added 149.01 points yesterday to 5,204.06 riding on better performance of oversea stocks; highlights of the day was LGL and OSH ending in positive territory again supported by commodity prices tracking equity markets; while on the downside was BSP losing 1.21 percent finishing at K 0.81.

The market is expected to open higher following positive leads from the global markets; commodities may also provide some support, too. BSP has offers at K0.81 while LGL sellers are lined up at K6.00.

PNG NEWS

In currency news kina is buying 0.4619 and selling 0.4182 Aussie today. In commodities all the base metals closed higher with oil and gold ending at US$70.95 and US$956.50 respectively.

MOVERS:
Yesterday’s movers on the local market 13/08/09:
BSP: -1.21%
LGL: 1.35%
OSH: 0.45%

Airlines PNG Update on Missing Aircraft

CANBERRA Rescuers have reached the wreckage of a passenger aircraft that crashed in Papua New Guinea and found no survivors among the 13 passengers and crew, Australian Prime Minister Kevin Rudd said on Wednesday.

POMSoX UPDATE

LOCAL STOCKS

The local market ended slightly higher on modest volumes, the KSi added 15.95 points or 0.32 percent to 5,055.05. Resource stocks moved up with LGL and OSH closing at K6.00 and K11.10 respectively, despite the metal prices moving otherwise. Last night in overseas saw the markets in US and Europe rebounded riding on the news that Fed Reserve gave some assurance that the economy is stabilizing.

The market may open higher after positive leads metals may also push the market higher today. On the pre-open phase of the market this morning has buyers queued at K2.49 for CPL while offers are available for NBO at K17.90.

PNG NEWS

In currency news, Kina maintained is buying at 0.4674 and selling at 0.4231 Aussie.

MOVERS
Wednesday’s gainers and losers on the local bourse12/08/09:
BSP: -1.21%
LGL: 1.35%
OSH: 0.45%

POMSoX UPDATE

LOCAL STOCKS

Yesterday saw the local index closed lower, down by 148.45 points or 2.86 percent to 5,039.10; CCP lost 1.05 percent at K1.88 as CPL gained 1.63 percent to end at K2.49. OSH ended weaker on the back of weaker oil prices likewise IOC on the NYSE $27.18 loosing 1.08 percent.

Most of the markets again skidded after the market awaited the Federal Reserves latest decisions on its guidance and monetary policy on the outlook for recovery. The market may open in the red with negative leads from overseas.

PNG NEWS

The local currency is buying 0.4694 and selling 0.4249 Aussie today remaining steady as the global economy remains cautious towards market.

MOVERS
Thursday’s movers on the local bourse 11/10/09:
CCP: -1.05%
CPL: 1.63%
OSH: -7.43%

POMSoX UPDATE

LOCAL STOCKS

Trading on the Port Moresby share market closed fairly slow last week. However, NBO finished strongly to end the weeks trading higher at K17.68 followed closely by OSH at K11.90.

Today’s Exchange Rate has PGK buying AUD at 0.4658 and selling at 0.4216.

MOVERS
Friday’s movers on the local bourse 06/08/09:
OSH: 2.58%
NBO: 6.44%

POMSoX UPDATE

LOCAL STOCKS

Trading on the Port Moresby share market closed lower yesterday with the KSi finishing weaker by 11.45% to 5,116.42. The major drag of the day was Bank South Pacific closing lower at K0.82 losing 1.2%. Light volumes were also seen with Credit Corp and Airlines PNG. Junior Miner Marengo Mining provided the only support to the market gaining 4% to close the day at K0.26.

Otherwise, trading on the local bourse is expected to open mixed; with much speculation on the international markets concerning data pointing to a slow recovery.

MOVERS
Yesterday’s movers on the local bourse 06/08/09:
BSP: -1.20%
MGO: 4.00%

POMSoX UPDATE

LOCAL STOCKS

The local bourse finished calm with modest volumes changing hands; The KSi added 7.84 points to 4,860.29 on the back of stronger commodity prices. BSP ended unchanged as CPL slid 0.80 percent to K2.45 while OSH added 5 toeas before close.

The market is expected to continue upwards riding again on positive leads from the international indices. Offers for BSP are lined up at K0.83 while buyers for BSP are queued at K16.60.

PNG NEWS

In Corporate news, MGO released its quarterly activities report stressing a cash balance of A$5.09 million and also reporting metallurgical tests confirming a high quality, low impurity copper sulphide concentrate.

MOVERS
Yesterday’s movers on the local bourse 03/08/09:
CPL: -0.80%
OSH: 0.45%

POMSoX UPDATE

LOCAL STOCKS

On Friday saw the local market closed lower despite the gains earlier in the month; LGL and OSH fell 8.77 and 0.45 percent respectively, while CCP closed unchanged at K1.89 with reasonable volumes. The international markets ended the month better on the back of better GDP data for the second quarter.

Again with positive leads from overseas the local bourse is expected to continue its steady climb as more positive news are being released by the trading companies.

PNG NEWS
In politics, the battle is still on with the opposition and government playing the numbers game before the ‘vote of no confidence’ which is scheduled for the month of November.

Our kina this morning is buying 0.4664 and selling at 0.4222 Aussie. The central bank released its Kina Facility Rate (KFR) for the month of August maintaining it at 8.00 percent.

MOVERS
Last Friday’s movers on the exchange 31/07/09:
BSP: -2.38%
LGL: -8.77%
MGO: 3.84%
OSH: -0.45%

POMSoX UPDATE

LOCAL STOCKS

The market gained 145 points to close at 5000.59; CCP fell 0.52 percent to end the day at K1.89 likewise did MGO and LGL at K0.26 and K5.69 respectively. Overseas last night had NBPO ended at GBP3.60 while IOC on the NYSE finished up at US$28.13.

The market is expected to maintain its rally on reviews that the financial meltdown and the downturn is easing. Sellers for BSP still remains at K0.84 while offers for CGA are at a low K0.69.

PNG NEWS

In company news, LGL released to the market its Q2 results for 2009 highlighting a Quarterly production of 294,000 oz, taking half year production to a record 612,000 ounce.

MOVERS:
Thursday’s movers on the local bourse 30/07/09:
CCP: -0.52%
LGL: -5.00%
MGO: -3.70%
NGE: 18.75%
OSH: -3.91%

POMSoX UPDATE

LOCAL STOCKS

The local bourse closed steady yesterday as BSP rebounded closing at K0.85 with reasonable volumes changing hands. Companies that traded yesterday saw moderate changes with CGA losing 1.42 percent to end at K0.69. While in overseas saw IOC closed at US$26.77 sliding 2.58 percent.

The gains on the markets yesterday were limited as concerns grew about Chinese banks limiting lending and thus hurting commodity prices and the share market last night. Sellers for LGL are lined up at K6.30 and CPL bids are at a high K2.45.

PNG NEWS

In Currency news, Kina is up today buying 0.4773 and selling 0.4320 Aussie, while it is trading at 0.3529 US Cents.

Local politics news had PNG parliament went into recess as the government and opposition continue their bitter clash over yesterday’s no confidence sparkle.

MOVERS
Wednesday’s gainers and losers on the local bourse 29/07/09:
BSP: 2.43%
CCP: 0.52%
CGA: -1.42%
NBO: 0.45%
OSH: -1.28%

POMSoX UPDATE

THURSDAY 30th JULY 2009

LOCAL STOCKS

The local bourse closed steady yesterday as BSP rebounded closing at K0.85 with reasonable volumes changing hands. Companies that traded yesterday saw moderate changes with CGA losing 1.42 percent to end at K0.69. While in overseas saw IOC closed at US$26.77 sliding 2.58 percent.

The gains on the markets yesterday were limited as concerns grew about Chinese banks limiting lending and thus hurting commodity prices and the share market last night. Sellers for LGL are lined up at K6.30 and CPL bids are at a high K2.45.

PNG NEWS

In Currency news, Kina is up today buying 0.4773 and selling 0.4320 Aussie, while it is trading at 0.3529 US Cents.

Local politics news had PNG parliament went into recess as the government and opposition continue their bitter clash over yesterday’s no confidence sparkle.

MOVERS
Wednesday’s gainers and losers on the local bourse 29/07/09:
BSP: 2.43%
CCP: 0.52%
CGA: -1.42%
NBO: 0.45%
OSH: -1.28%

POMSoX UPDATE

LOCAL STOCKS

Trading on the local bourse was light with HIG and OSH ending on the upside while BSP fell 3.52 percent on light volumes; the markets finished mixed yesterday after some profit taking and weaker commodity prices overnight. Our dual listed NBPO ended GBP3.58 losing 0.83 percent in London.

The local market is expected to open lower due to the markets concluding the day mixed. BSP shares are available at K0.85 while sellers for CPL are at a low K2.47.

PNG NEWS

In currency news, our kina closed lower yesterday, as demand outstripped supply for another week. Our kina is buying 0.4729 and selling 0.4281 Aussie today.

MOVERS
Tuesday’s movers on our share market 28/07/09:
BSP: -3.52%
HIG: 4.00%
OSH: 0.51%

POMSoX UPDATE

LOCAL STOCKS

Yesterday the market closed higher as BSP maintained its trading price at K0.85 and CCP finished unchanged registering trades at K1.89 with light volumes changing hands. MGO and OSH were the highlight of the day after concluding the day higher by 8 and 3.94 percent respectively.

Overseas last night saw the markets finished positive, as such the local bourse is expected to open higher today; with offers for OSH are as low as K11.60 while LGL sellers are lined up at K6.49.

MOVERS
Monday’s movers on the local bourse 27/07/09:
BSP: 1.19%
CGA: 1.44%
MGO: 8.00%
NBO: -0.54%
OSH: 3.94%

POMSoX UPDATE

LOCAL STOCKS

The local market finished relatively active on Friday; BSP closed the day higher after opening the day lower at K0.82 with reasonable volumes changing hands. CGA fell 1.42 percent to finish at K0.69 as LGL closed unchanged. While in overseas saw NBPO in LSE concluded the day stronger at GBP3.61.

Outlook today looks positive as the global economy had its longest slump since Great Depression. But growth, albeit small, may return as soon as the third quarter as analysts predict.

MOVERS
Last Friday’s movers on the local bourse 24/07/09:
BSP: 1.20%
CGA: -1.42%
OSH: 1.36%

POMSoX UPDATE

LOCAL STOCKS

The market was closed yesterday as a result of the Remembrance holiday. Generally the markets closed positive and the trend is set for another strong day ahead after oil and stocks in overseas surged. Other metals also rose, while copper finished weaker. NBPO also closed weaker on the LSE losing 1.4 percent to GBP3.57 (K16.55).

MOVERS
Data is not available as the market closed for Remembrance holiday yesterday.

POMSoX UPDATE

LOCAL STOCKS

The local bourse closed reasonably active yesterday on modest gains riding on positive news from overseas. LGL and OSH ended the day stronger at K6.00 and K11.20 respectively as the financials finished weaker due to a strong supply.

Local market may start flat this morning despite the gains on markets; the opening phase of the market today has CPL offers at K2.47 and LGL at K2.49.

PNG NEWS

LGL: Lihir Gold Ltd (LGL) is to initiate the sale of the Ballarat gold mine in Victoria after completing a review of the project over recent months.

OSH: STRONG production and a higher oil price have allowed Papua New Guinea-focused Oil Search to post operating revenue of $US116.6 million for the quarter ending June 30, 2009.

MOVERS
Tuesday’s movers on the local share market 21/07/09:
BSP: -1.17%
CCP: -1.04%
LGL: 1.69%
MSC: 50.00%
OSH: 1.81%

POMSoX UPDATE

LOCAL STOCKS

Nothing much happened on the local market yesterday; BSP registered trades at K0.85 with a reasonable volume likewise did OSH finishing steady at K11.00 with offers closing at K11.60 for the day. Overseas saw the market s opened the week in positive territory bolstered by financials riding on the news of CIT.

Local bourse is expected to open higher in the first session today on the back of positive leads from international markets. In Currency news our Kina has slid a little buying 0.4822 Aussie and selling 0.4365 today.

MOVERS
Yesterday’s movers on the local bourse 20/07/09:
The stocks finished unchanged yesterday on light volumes.

POMSoX UPDATE

LOCAL STOCKS

Generally, the market closed quite active, with trading on the local market saw BSP closed 3.65 percent higher at K0.85 as NBO ended the week at K16.55 on light volumes, while on the downside was HIG closing weaker by 3.84 percent. Overseas had IOC finished stronger, up 0.64 percent to US$29.79.

The market is expected to open a little higher after the markets finished in the green last week. Pre-open phase of the market today has CGA as low as K0.70 and CPL sellers are lined up at K2.47.

PNG NEWS
Kina is buying 0.4902 Aussie while selling 0.4437, and Kina/USD is trading at 0.3562

MOVERS
Friday’s movers on the local bourse 17/07/09:
BSP: 3.65%
HIG: -3.84%
NBO: 0.24%

POMSoX UPDATE

LOCAL STOCKS

Strong performance by the resources companies led to the local index climbing 8.48 points to end 0.17 percent better. OSH closed up at K11.00 with offers for the day closing at K11.44. HIG surged 18 percent after the metal prices closed in the positive territory. While in London saw NBPO finished at GBP3.32 equivalent to K15.28 yesterday.

Positive data from China’s growth led to the markets finishing on the upside, thus we expect the market to open higher today with offers for BSP as low as K0.85.


PNG NEWS

In currency news our local kina is selling at a rate of 0.4434 and buying 0.4898 Aussie; while it is averaging 0.3572.

MOVERS
Yesterday’s movers on the local market 16/07/09:
BSP: -3.52%
HIG: -18.18%
MSC: -50.00%
OSH: 2.80%

POMSoX UPDATE

LOCAL STOCK

Moderate volumes changed hands as the international indices closed stronger on the back of positive financial and technology stock news. On the local front, KSi ended trading otherwise as NBO and OSH fell 2.69 and 2.63 percent respectively.

The market today should start the day flat despite positive leads from the international arena but momentum is predicted to rise as investor confidence starts to emerge in the markets. BSP offers are low as K0.85 in the pre open phase while sellers for LGL are at K6.50.

POMSoX UPDATE

LOCAL STOCKS

BSP yesterday posted a gain of 1.17 percent to end at K0.86, after opening the day lower. OSH slid 6.50 percent on the back of weaker crude oil prices. Otherwise the market had a relatively active day. Last night in London saw NBPO register a close at GBP3.45 loosing 10 pence.

The market is expected to open stronger with positive leads from the overseas; pre open phase of the market this morning has bids for OSH as high as K10.70 and offers for BSP at a low of K10.70.

PNG NEWS
PNGKSi: The local index jumped 108.24 points yesterday to close at 5035.94.

Kina: In currency markets our Kina is buying 0.5048 and selling 0.4570 Aussie and selling at a rate of 0.3581 US cents.

MOVERS
Yesterday’s movers on the local bourse 13/07/09:
BSP: 1.17%
HIG: -15.38%
NBO: -0.17%
OSH: -6.46%

POMSoX UPDATE

MONDAY 13th JULY 2009

LOCAL STOCKS

Friday saw the local bourse closed relatively flat, with the financials finishing unchanged likewise NBO ending the week at K17.10, OSH was the only gainer on Friday ending 7 percent higher with small volumes. In overseas over the weekend had IOC closed at US$27.21 while NBPO on the LSE ended at GBP3.50.

The market this morning is expected to open relatively flat with bids for BSP and CCP as low as K0.85 and K1.93 respectively.

PNG NEWS

Kina: The local currency is buying 0.5075 and selling 0.4594 today.

MOVERS
Last Friday’s movers on the local bourse 10/07/09:
OSH: 6.91%

POMSoX UPDATE

LOCAL STOCKS
Thursday, saw the local bourse close active with reasonable volumes changing hands for BSP at K0.85 as CPL registered a gain of nearly 1 percent to end the day at K2.49. in overseas last night saw NBPO in London finished steady at GBP3.54 likewise did IOC on the NYSE closing at US$27.20.

The local market is expected to open flat following mixed results from the international markets. Pre-open phase of the market today at has offers for BSP as low as K0.86, and NBO buyers lined up at K17.10.

PNG NEWS
Kina: Our local currency is buying 0.5050 and selling 0.4571.

MOVERS
Yesterday’s movers on the local bourse 09/07/09:
CPL: 0.80%
NBO: 0.05%

POMSoX UPDATE

LOCAL STOCKS

Trading on the local bourse was soft with light volumes changing hands, BSP and CCP maintained levels as previous. LGL also edged over the K6.00 mark finishing the day at K6.40 despite gold losing its appeal as a hedge against inflation yesterday. Last night had IOC ended the day at US$26.11 fall 7 percent while NBPO rose by 8 pence to close at GBP3.58.

The market is expected open lower with negative leads international indices, due to a declining oil price and reports that fresh government spending may be needed to stabilize economies. Offers for BSP are as low as K0.85

PNG NEWS
The KSi edged higher yesterday, adding 100.27 points or 1.93% to close at 5,292. While BPNG maintained the KFR at 8.00 percent.

PNG Kina is buying 0.5004 and selling at a rate of 0.4530 Aussie.

MOVERS
Yesterday’s movers on the local bourse 8/07/09:
LGL: 6.66%

POMSoX UPDATE

LOCAL STOCKS

KSi opened the week lower losing 56 points to end 5,191.73, trading was quiet with light volumes. BSP and OSH finished the day unchanged as NBO and CCP closed in the red. IOC also fell 5.29 percent on the NYSE, likewise did NBPO in London closing at GBP3.50.

The local market is expected to open flat today with mixed leads form the international markets. In the pre-open phase of the market this morning has bids for BSP as high as K0.80. In currency our Kina is buying 0.4955 and selling 0.4485 Aussie today.

MOVERS
Yesterday’s movers on the local bourse 06/07/09:
CCP: -0.51%

POMSOX UPDATE

LOCAL STOCKS

On Friday saw the local bourse closed calm with trades going through for BSP at K0.85; NBO fell 3.22 percent to end at K17.10, as other finished unchanged. Overseas markets saw IOC concluded the week at US$29.67 reaching a high of US$30.80 as NBPO on the LSE ended at GBX350.00.

The local market is forecasted to maintain current trading levels as we move into the second half of the year, as most of the international indices closing weaker last week.

PNG NEWS

PNG Kina: Our local currency is buying 0.4957 Aussie and selling 0.4487 Aussie, while PGK is averaging 0.3753 US.

MOVERS
Movers last week Friday included NBO falling 3.22 percent.

POMSoX Update

THURSDAY 2nd JULY 2009

LOCAL STOCKS

The Local bourse closed fairly flat on Wednesday as majority of the securities saw little to no trading at all. NBO was the highlight of the day as it turned around to finish 1.92% higher at K18.01 after falling to K17.67 the previous day. OSH continued to maintain its position at the K11.60 mark regardless of the fall in the oil price from US$71.47 to US$69.82 on the world market yesterday. BSP continues to trade at K0.85 while LGL remains steady at K6.40.

PNG NEWS
The KSi was up yesterday by 5.37 pts or 1.00% to close at 5,206.67 due to NBO turning the tide to finish 34toea higher at K18.01.

MOVERS

Wednesday’s movers on the local market 01/07/09:

NBO: 1.92%

POMSoX Update

WEDNESDAY 1st JULY 2009

LOCAL STOCKS

Tuesday, saw the market finish active with BSP continuing to register trades at K0.85; HIG closed steady at K0.26 with a reasonable turnover in volume. LGL closed at K6.40 while NBO lost ground by 0.33% to end its day at K17.67. Otherwise, all other securities closed unchanged.

The pre-opening phase of the market today has offers for CCP at K1.94 and CPL at K2.47.

PNG NEWS

KAM: Locally listed investment firm Kina Asset Management is currently looking to diversify their investments on both the domestic and international fronts. Sir Rabbie Namaliu announced this at the start of their long term investment strategy. Sir Rabbie mentioned that there were some opportunities which they were currently looking at in the global markets as well as locally and would be acting upon recommendations regarding these.

MOVERS

Yesterday’s movers on the local exchange 30/06/09:

CGA: -0.10%
NBO: -0.33%

POMSoX Update

TUESDAY 30th JUNE 2009

LOCAL STOCKS
Yesterday saw the local bourse finish relatively calm with light volumes changing hands. BSP surged towards the end of trading to close at K0.85. NBPO on LSE fell 1.51 percent to GBP3.55 as IOC climbed to over 4 percent to conclude day’s trading at US$29.27.

The opening phase of the market today has bids for OSH at K11.60 while offers for NGE are at K0.20.

PNG NEWS
The PNG Government is believed to be “days away from finalizing a project agreement for Papua New Guinea’s second liquefied natural gas project. Gas from the Elk/Antelope fields in the Gulf Province is expected to feed the project which is currently in negotiations between the state and the project operator Interoil Corporation.

MOVERS

Monday’s movers on the local market 29/06/09:

BSP: 4.93%

POMSoX Update

MONDAY 29th JUNE 2009

LOCAL STOCKS

Trading on Friday saw BSP move higher 2.53% to close at K0.81 on the back of CEO Ian Clyne’s announcement that BSP was in talks with Commonwealth Bank Australia to acquire their Fijian Banking and Insurance assets. LGL closed slightly lower at K6.00; NBO also settled at K18.00 and OSH continued to maintain at K11.60.

PNG NEWS
Bill Jasper, Interoil corporation president announced plans for the company to increase its capital investment in PNG following the closure of the recent US$70 million (K188 million) direct stock offering. He said that Interoil were looking to accelerate their upstream exploration activities thus increasing their need for additional capital.

Airlines PNG have announced the appointment of their new Chief Executive Mr. Gary Toomey. Mr Toomey's previous position was as president and CEO of the Air New Zealand group, with annual turnover of NZ$8 billion, 26,000 employees and over 200 aircraft. Since leaving Air New Zealand Mr Toomey has managed his own consultancy business which serviced regional and domestic airlines in developing countries in the Asia region as well as consulting with one of the largest hospitality groups in the world. Prior to joining Air New Zealand Mr Toomey served as Deputy Chief Executive Officer, Chief Financial Officer and Executive Director at Qantas Airways Ltd. In this role Mr Toomey had overall responsibility for the operations, subsidiaries and finance of the Qantas Group. Mr Toomey also spent three years as a non-executive director of the ANZ Banking Group.

MOVERS
Monday’s movers on the local market 25/06/09:
BSP: 2.53%
LGL: -10.00%
OSH: -0.08%

POMSoX Update

FRIDAY 25th JUNE 2009

LOCAL STOCKS

Most of the trading companies closed unchanged yesterday while NBO surged up to close at K20.00; Offers for LGL maintained at K6.40. Overseas last night saw IOC move up nearly 3 percent to US$26.12 as BSP continued to perform steadily at K0.79.

PNG NEWS

Credit Corporation announced to their shareholders at their Annual General Meeting yesterday that they would be paying a dividend of 5 toea to their shareholders which would be made payable in August. Chairman, Garth Mcilwain reassured investors that the company had done very well in 2008 despite the world economic crisis on the back of a well capitalized Banking and Finance industry in PNG which Credit Corp was part of. He stressed that the Board and Management would be taking a conservative approach in 2009 so as to see that Credit Corp would maintain a liquid and sound financial position moving in to 2010 in order to capitalize on many of the financing opportunities of the upcoming PNG LNG project.

In other news, Bank South Pacific has made a non-binding and conditional offer to acquire the banking and insurance business of the Commonwealth Bank of Australia in Fiji. The offer is now subject to due diligence.

MOVERS
Thursday’s movers on the exchange 25/06/09:
BSP: 2.59%
NBO: 11.11%
CCP: -0.51%

POMSoX Update

THURSDAY 24th JUNE 2009

LOCAL STOCKS
The bourse closed active yesterday with LGL slipping by 0.54% to close at K6.40 . Oil Search continued to maintain its position at K11.60 regardless of the 1.2% fall in the world market oil price yesterday. New Britain Palm Oil also slid by 0.27% to close lower at K18.00.

The opening phase of the market this morning has offers for BSP at K0.79 while offers are available for CPL at K2.47. In Currency news today PGK is buying AUSD at a rate of 0.4913 and selling at 0.4447.

PNG NEWS

Papua New Guinean credit giant Credit Corporation will be having their Annual General Meeting today at 11:00am to discuss with shareholders the performance of the company in the past year.

The PNG investment community was saddened to learn of the tragic passing away of the CPL group of companies board chairman Allan Jarvis over the weekend. Mr. Jarvis contributed immensely to the growth and success of the company in the recent years. His leadership will be sorely missed by the CPL group.

MOVERS
Wednesday’s movers on the exchange 24/06/09:
LGL: -8.24%
NBO: -0.27%
OSH: 3.56%
MGO: 3.84%

POMSoX Update

WEDNESDAY 24th JUNE 2009

LOCAL STOCKS

Activity picked up on the local bourse yesterday as bidders for BSP queued in at K0.74 and closed the day at K0.78. Oil search went on to reaffirm its reputation as a volatile stock by closing lower at K11.60 after a brief stint at K12.40 the previous day. Airlines PNG also lost 2.77% to settle at K0.70 yesterday. On the latter, New Britain Palm Oil gained 0.16% to close higher at K18.05. The listing of BSP Notes saw its market placing bidders for the new security at K24,500.00 and sellers K26,000.00.

PNG NEWS
The KSi dropped by 252.82 points or 4.64% to 5,200.58. This was mostly due to the lead markets and commodity prices closing weaker yesterday on the back of economic forecasts by the world bank that the world recession is far from over.
MOVERS
Movers for Tuesday 23/06/09:
OSH: -13.10%
CGA: -2.77%
NBO: 0.16%

POMSoX Update

TUESDAY 23rd JUNE 2009

LOCAL STOCKS

Trading on the local bourse was relatively slow on Monday seeing most of the securities closing unchanged. BSP continued to maintain at K0.78;

PNG NEWS
The ExxonMobil-led Papua New Guinea liquefied natural gas (PNG LNG) joint venture is set to finalise sales deals for all remaining production from the $US12.5 billion ($A15.6 billion) project that was not covered by a maiden deal in April.

Oil Search managing director Peter Botten said it was "a major achievement", underscoring the project's likelihood of delivering first gas in 2013/14 and building momentum for a final investment decision (FID) in late 2009.


MOVERS

There weren’t any major movers for Monday. 22/06/09:

POMSoX UPDATE

LOCAL STOCKS

The local bourse closed steady on Friday seeing BSP maintain at K0.78.OSH rebounded from a weaker performance the previous day to close stronger at 11.71 percent & end the day at K12.40.

PNG NEWS

Chrome Corp Ltd - Perth-based mining company Chrome Corporation has struck a deal to acquire PNG gold explorer Pacific Niugini Minerals Ltd (PNM).

The deal, which is subject to due diligence and the approval of Chrome shareholders, will transform Chrome into a substantial gold company with almost 4,000 sqkm of highly prospective acreage in PNG’s Morobe, Western Highlands and Madang Provinces.

MOVERS

Friday’s movers on the local market 19/06/09:
CPL: 0.81%
LGL: 0.25%
OSH: 11.71%

POMSoX UPDATE

LOCAL STOCKS

The local bourse yesterday had gained 2.63 percent to end at K0.78, while OSH dropped 11.7 percent to close the day at K11.20; while others finished unchanged. Overseas last night saw IOC ended weaker US$31.78 likewise NBPO on the LSE finished at GBP3.89.

The local index continues to maintain levels above 5, 000 points despite the price fluctuations for the commodities The pre open phase of the market today has offers for CCP at a low K1.95 while bids are as high as K18.00 for NBO. Our Kina is buying 0.4851 and selling at 0.4391 Aussie this morning.

PNG NEWS

STO - Santos's proposed Gladstone liquefied natural gas project has leapt forward with a first sales deal believed to be worth at least $US17 billion ($A21.45 billion).

MOVERS
Yesterday’s movers on the local market 18/06/09:
BSP: 2.63%
OSH: -11.69%

POMSoX UPDATE

LOCAL STOCKS

The bourse closed active yesterday with CPL advancing 2 percent so did LGL surging 8 percent on the back of positive news that the company is within its forecasts to produce 1.2 million ounces this year. OSH jumped13 percent ending K12.57 despite the fall in Oil prices.

The opening phase of the market this morning had trades go through for BSP at K0.77 while offers are available for CPL at K2.47. In Currency news today PGK is buying at a rate of 0.4883 while selling at 0.4420.

MOVERS
Wednesday’s movers on the exchange 17/06/09:
BSP: -2.56%
CPL: 2.08%
LGL: 8.62%
NBO: 0.05%
OSH: 13.24%

POMSoX UPDATE

LOCAL STOCKS

Most of the trading companies closed unchanged yesterday while OSH gained 3.33 percent to end at K12.40; Offers for LGL closed the day at K7.00 as NBO buyers lined up at K18.00. Overseas last night saw IOC lost nearly 5 percent to US$34.26 as NBPO added 8 pence to finish the day at GBP4.02.

The market today is expected to open weaker as most of the indices closed in the red. Opening phase of trading today has CCP shares on offer as low as K1.95.

PNG NEWS

LNG: Oil Search and Santos have agreed to spend US$600 million in PNG’s liquefied Natural gas project. They will spend the fund on initial work including infrastructure upgrades.

MOVERS
Monday’s movers on the exchange 15/06/09:
BSP: -1.31%
MSC: -33.33%
OSH: 3.33%

POMSoX UPDATE

LOCAL STOCKS

The local bourse on the Friday closed lower losing 2 points to end at 5,239. BSP lost 1.29 percent to close at K0.76 as CGA climbed 10 toeas to K0.77 likewise NBO adding 43 toeas to finish the week at K18.00. IOC lost 43 cents to end at US$35.92 reaching a high of US$36.61.

Opening phase of the market today has seen BSP opening the day lower at K0.75 while OSH has buyers lined up at K12.40.

MOVERS
Last Friday’s movers on the local bourse 12/06/09:
BSP: -1.29%
CGA: 14.92%
NBO: 2.44%

POMSoX UPDATE

LOCAL STOCKS

The bourse closed relatively active yesterday with modest volumes changing hands. KSi added 130.90 points or 2.56 percent to 5,241.66. BSP lost 1.28 percent to close at K0.77 while CGA and OSH soared 6 and 8 percent respectively. In overseas last night saw IOC ended stronger at US$36.35 as NBPO lost 2 pence to conclude the day at GBP3.97.

In the opening phase of trading today has bids for BSP lined up at K0.70 with bids are as high as K0.26 for MGO.
PNG NEWS
HIG: Highlands Pacific Limited reported yesterday the construction of the US$1.37billion Ramu nickel-cobalt project in PNG is on time and budget with commissioning later this year.

IOC: Inter Oil Corporation completed its capital raising of US$70.44 million through share common stock offering in US.

Resources has pushed up the market into green territory with Gold, copper and Oil posting gains on the back of a weaker US dollar.

MOVERS
Yesterday’s movers on the local bourse 11/06/09:
BSP: -1.28%
CGA: 6.34%
MGO: -3.70%
NBO: 0.22%
OSH: 8.10%

POMSoX UPDATE

LOCAL STOCKS

Wednesday saw the local index added 47.90 points (0.94 percent) to 5,110.76 on the back of BSP posting a gain of 5.40 percent to close at K0.78 reaching a low of K0.74; while CPL slid nearly 3 percent registering last at K2.40. In US saw IOC fell 12 cents to US$35.97 while NBPO finished up GBP3.99.

Outlook for the remainder of June looks steady with commodity prices and consumer confidence improving. Today on the market has offers for NBO as low as K22.00 while bids for OSH are at K11.10.

MOVERS
Yesterday’s movers on the local bourse 10/06/09:
BSP: 5.40%
CPL: -2.83%
NBO: 0.05%

POMSoX UPDATE

LOCAL STOCKS

On Friday saw the local index climbed 9.44 points or 0.18 percent to 5,088.72, due to CCP and LGL posting 0.50 and 1.61 percent gains respectively. OSH slid -0.09 percent to close at K11.00 while in overseas had NBO and IOC closing weaker.

The market is excepted to open lower today with negative leads from the international markets. The pre –open phase of the market has sellers for CPL lined up at K2.46 and offers for LGL are as low as K7.00.

MOVERS
Last Friday’s movers on the exchange 05/06/09:
BSP: -1.26%
CCP: -0.50%
LGL: 1.61%
OSH: -0.09%

POMSoX UPDATE

LOCAL STOCKS

The market traded lower yesterday with the KSi shedding 169.51 points or 3.22% to close at 5,079.28; Movers on the day included BSP and OSH loosing 1.25 and 8.25 percent respectively. Offshore saw IOC climbed 8 percent to close at US$37.75 with a high of US$37.90.

The market has sellers selling NBO as low as K22.00 while bids are at K17.08. Otherwise the local bourse should expect trading to pick up slowly as confidence starts to emerge.

PNG NEWS

EXXONMOBIL’S PNG LNG project in Papua New Guinea has taken another step forward to development after the company signed an agreement with the KBR and WorleyParsons’ Eos joint venture and awarded an early works contract to the Cough Curtain JV.

MOVERS
Thursday’s movers on the local bourse 4/06/09:
BSP:-1.25%
CCP: -2.45%
OSH: -8.25%

POMSoX UPDATE

LOCAL STOCKS

Trading on the market was quite active with reasonable volumes changing hands for BSP at K0.79. CPL also surged 2.91 percent so did LGL advancing by 40 toea; and OSH fell 5 toeas to K10.95. On the offshore markets IOC ended stronger adding 5 percent to US$35.77 as NBPO finished GBP3.68.

The pre-open phase of the market today has bids NBO at K17.06 while OSH buyers are lined up at K10.90.

MOVERS
Friday’s movers on the local bourse 29/05/09:
BSP: 1.26%
CPL: 2.91%
KAM: 1.76%
LGL: 6.54%
OSH: -0.45%

POMSoX UPDATE

LOCAL STOCKS

Yesterday saw the local market finished stronger adding 3.88 points (0.07%) to 5,133.19; BSP finished steady seeing trades at K0.79 while CGA and KAM closed on the upside at K0.63 and K1.13 respectively. IOC on the NYSE ended losing 12 percent to close at US$32.20.

The market should open slightly higher with most of the offshore markets giving mixed signals. Gold fell 80 cents to US$949.10 while Crude oil maintained its level at US$63.41/ barrel.

MOVERS
Wednesday’s movers on the local bourse 27/05/09:
CGA: 26.00%
KAM: 0.89%

Kina Continues to Rise

Another week of significant export proceeds with low appetite importer demand as a result of a surging Australian dollar saw the kina rise by 35 points for the week to close at U.S$ 35.90 cents. Westpac have indicated that there are some imminent large importer transactions that need to be settled within the next month so we would expect appreciation of the rate to slow down going forward.

Importers waiting for the Australian dollar to “collapse” against the greenback are being hammered as the Australian dollar breaks through U.S$78 cents. My word to analysts would be to forget about Australian fundamentals and focus on the U.S dollar as text book trading days have been rewritten in the last 10 months. In reality a PGK/AUD 0.4591 exchange rate appears fair value and those waiting for a re-track to 0.4800 may be disappointed.

POMSoX UPDATE

LOCAL STOCKS

Last Friday saw the local market closed calm with BSP advancing 2.59 percent to close at K0.79 so did MGO surging 3.84 percent to K0.27 with a reasonable volume. IOC ended weaker at US$35.94 while NBPO on the LSE concluded the week at GBP3.64 equivalently K16.93 on the local bourse.

The market is expected to open flat with mixed leads from the international markets. LGL bids are lined up at K6.10 whereas on the ASX they are lined up at A$3.20.

PNG NEWS

BSA: The Umbrella Benefit Sharing Agreement was finally signed granting a 7 percent equity in the LNG project on the back of government’s commitment to offload 5 percent of its stake in the multibillion Kina project.

MOVERS
Last Friday’s movers on the exchange 24/05/09:
BSP: 2.59%
MGO: 3.84%
OSH: 0.09%

POMSoX UPDATE

LOCAL STOCKS

The local bourse finished quiet with the KSi falling 4 percent to 5,049.02; LGL and MGO moved otherwise to close lower at K6.10 and K0.26 respectively. OSH also finished weaker, down 10 toeas to K10.90. IOC gained 95 cents to close at US$37.41.

The market today should be expected to open weaker with bidders for OSH are as high as K10.90 this is as per the mixed leads from the international markets as the surprise drop in construction and a cautious outlook in the global economy.

MOVERS
Yesterday’s movers on the market 19/05/09:
LGL: -10.42%
MGO: -3.70%
OSH: 0.90%

POMSoX UPDATE

LOCAL STOCKS

Yesterday nothing much happened as small volumes traded for the trading companies; gainers on the day included BSP and LGL gaining 1.26 and 12.37 percent respectively. While on the downside was CPL falling 2.83 percent for the day. NBPO closed at GBP3.76 reflecting a 3.52 percent rise from previous in London.

Pre-open phase of the market today has offers for NBPO as low as K22.00 while buyers are lined up at K11.00 for the day. The market should continue its steady climb as signs that the recession is easing.

MOVERS
Monday’s movers on the bourse 18/05/09:
BSP: 1.26%
CPL: -2.83%
LGL: 12.37%

POMSoX UPDATE

LOCAL STOCKS
Last Friday saw the market closed on a calm note, with light volumes changing hands for BSP, NBO and OSH. MGO on the local bourse finished unchanged at 27 toeas while on the ASX it concluded the day at 10.5 cents. IOC on the NYSE advanced 2 percent to end the week at US$35.40.

Today the market is expected to open weaker with mixed leads from off shore markets. With bids for CGA as high as K0.50. This week will see a number of listed companies hosting their annual meetings namely, SST, HIG, BSP and NBO.

PNG NEWS
IOC: forecasted that they have a vibrant future this was on the back of a very strong first quarter reporting a net profit of US$2.6 million

OSH: Oil Search Limited reported that the PNG LNG project funding is within the vicinity of $4billion.

MOVERS

Last Friday’s mover on the exchange 15/05/09:
NBO: -0.05%
OSH: -0.18%

POMSoX UPDATE

LOCAL STOCKS

The KSi shed 20.12 points (0.39%) to close at 5,046.41 yesterday as the bourse ended with BSP falling 1.25 percent likewise NBO closing weaker at K17.01. Bids for LGL closed at K6.80 on the local bourse. IOC slid 23 cents to close the day at US$34.72 with reasonable volumes.

The market is expected to open flat with buyers already lined up for CPL at K2.40 in the pre-open phase of the market today.

MOVERS
Thursday’s movers on the bourse 14/05/09:
BSP: -1.26%
CCP: -0.48%
CGA: -5.55%
CPL: -0.40%%
NBO: -2.80%
OSH: 0.09%

POMSoX UPDATE

LOCAL STOCKS

The market continued its upward trend yesterday with KSi closing higher by 25.39 points (0.5%) to 5,066.53. BSP advanced by 1.26 percent likewise NBO surged 5 percent while on the LSE it dropped to GBP3.60. MGO and MSC finished unchanged at K0.27 and 6 toea respectively.

Today has bids for HIG as high as 20 toeas as OSH buyers are lined up at K11.01 in the opening phase of the market.

PNG NEWS
STO: Santos a major partner in the development of LNG project in PNG raised $1.75 billion yesterday.

MOVERS
Movers on the market yesterday 13/05/09;
BSP: 1.26%
NBO: 5.10%

POMSoX UPDATE

LOCAL STOCKS

Yesterday saw the local bourse finished relatively calm with light volumes changing hands. BSP opened higher earlier in the day but closed weaker at K0.79 while MGO advanced 3.84 percent to end at K0.27. NBPO on LSE fell 3.55 percent to GBP3.80 as IOC climbed nearly 5 percent o conclude day’s trading at US$36.53.

Today the market should open a bit lower with bids for BSP and KAM at K0.79 and K1.00 respectively. While sellers are lined up at K11.50 for OSH.

PNG NEWS
Commodity and metal prices yesterday closed weaker with Oil loosing 1.3 percent pressured by weaker equity markets and a stronger US dollar.

STO: Energy company Santos will raise as much as $3 billion in a share offering, as it pays down debt and raises funds for a key gas project.

MOVERS
Yesterday’s movers on the local bourse 11/05/09:
BSP: -1.25%
MGO: 3.84%
NBO: 0.36%
OSH: 1.47%

POMSoX UPDATE

LOCAL STOCKS

The KSi traded higher on Tuesday, closing 7.12 points or 0.14 percent at 4,960.31. Gainers for the day included BSP, CGA and NBO with 1.26, 9.09 and 13.84 percent respectively. While on the downside was OSH loosing 26 toeas to end at K10.50. NBO last night lost 25pence to close at GBp3.79 (K16.85).

Pre open phase of the market today has offers for LGL as low as K6.50 while buyers for NBO are queued at K16.51.

PNG NEWS

SST: Steamships Trading Company reported to the market that its annual meeting is scheduled for the 19th May 2009; the venue will be at the registered office in Port Moresby.

CUE: CUE Energy released to the market its Q1 results for the year highlighting a revenue for the quarter was A$5.8 million.

MOVERS
Yesterday’s movers on the local bourse 28/04/09:
BSP: 1.26%
CGA: 9.09%
CPL: -0.40%
LGL: 0.16%
NBO: 13.86%
OSH: -2.41%

POMSoX UPDATE

LOCAL STOCKS

The local market yesterday opened the week lower with the KSi ending 1.57 points down to 4,953.19. BSP and NBO finished unchanged registering trades at K0.79 and K14.50 respectively, as OSH slid 0.09 percent. IOC lost 5.73 percent to close at US$28.94 with a day’s high of US$30.70.

In the pre open phase of the market today has offers for NBO at K20.00 while LGL sellers are lined up at K7.00.

PNG NEWS

BSP: Bank South Pacific Limited announced the yesterday the resignation of Vai Reva and the appointment of Kostas Constatinou as a Director of BSP.

MOVERS
Monday’s movers on the local market 27/04/09:
OSH: -0.09%

POMSoX UPDATE

MONDAY 27th APRIL 2009

LOCAL STOCKS

Last Friday the market closed relatively calm, with the KSi declining by 0.24% to 4,954.76 points; BSP lost 1.25 percent to end at K0.79 as others LGL and MGO finished unchanged at K6.00 and K0.27 respectively. NBO on the LSE ended at GBP3.95 which is K17.55 equivalently while IOC finished at US$30.93 on the NYSE.

The local market today is expected to open slightly lower with bids for NBO are as high as K15.00 and OSH at K10.77.

PNG NEWS

In economic news, BPNG reported that inflationary pressures can be eased if the local businesses could pass on lower costs of import costs to consumers. The KFR or Kina Facility Rate is maintained at 8.0 percent for the first four months in to the year.

MGO: Marengo Mining released to the media that they discovered new copper deposits at the Yandera project in Madang Province.

MOVERS
Last Friday’s movers on the local market 24/04/09;
BSP: -1.25%

POMSoX UPDATE

LOCAL STOCKS

Last week Friday saw the KSi ended the week lower at 4,790.89, down by 0.12 points; with movers being MGO finishing 15 percent up and NGE closing the week on the downside losing nearly 6 percent to 17 toeas. In US saw IOC climb 0.46 percent to end at US$32.55 while NBO finished the week at GBP3.62.

Today has offers for LGL as low as K6.75 and bids for NBO are at K13.00.

MOVERS
Last Friday’s movers on the local bourse 17/04/09;
CCP: -0.92%
MGO: 15.00%
NGE: -5.88%

POMSoX UPDATE

LOCAL STOCKS

Wednesday saw the KSi rose by 101.72 points or 2.16% to 4,810.50; gainers included NBO and MGO ending the day at K15.00 and K0.20 respectively. BSP also registered small volumes finishing unchanged. While in overseas NBO gained 32 pence to finish on the LSE at GBP3.63 reaching a high GBP3.65.

The market has remained relatively active for the past few weeks, and is expected to continue, with more market releases from the listed companies. Buyers for NBO are lined up at K12.70 and offers for LGL are available at K6.75 for today.

PNG NEWS

COY: CopperMoly Limited relased an investor update regarding its trenching and drilling programme at the Nakru and Simuku; through exploration efforts and recent assay results, the values of these assets have been significantly improved.

HIG: Highlands Pacific Limited reported the receipt of US$3 million for the transfer of EL1277 from the PNG Deparetment of Mines.

MOVERS
Wednesday’s movers on the local bourse 15/04/09:
MGO: 17.64%
NBO: 24.89%
OSH: 3.51%