POMSoX UPDATE

LOCAL STOCKS

Tuesday, the local bourse finished active with reasonable volumes changing hands. LGL gained some territory to end at K5.20 while CCP closed with a high selling pressure pushing down the price to K2.43 with CPL finishing steady at K2.48. IOC last night fell 9 percent to end at US$17.61 in the US.

Trading should pick up slowly as the day progresses, with BSP bidders at K0.98 and sellers for NBO selling at a low of K12.00.

PNG NEWS

In company news, IOC reported yesterday that they will be giving a presentation at the ENERCOM Oil & Services Conference in San Francisco. Also Kina Asset Management released its Net Tangible Asset (NTA( as 31st January 2009 is at K0.90.

MOVERS
Yesterday’s movers on the bourse 17/02/09:
BSP: 1.02%
CCP: -2.01%
CPL: -0.80%
LGL: 8.10%
MGO: -5.88%
NBO: 0.10%