Tuesday, March 3, 2009

POMSoX UPDATE

LOCAL STOCKS

The local market closed on a calm note yesterday, with CCP seeing reasonable volumes being traded at K2.35, as MSC finished 6 toeas. Last night on the AMEX saw IOC climbed 13 percent to conclude the day at US$22.50 while NBPO in London registered trades at GBP2.43.

In the pre-open phase of the market today has offers for BSP as low as K0.96 and bids for NBO are as high as K9.83, trading activity should slowly pick up as the day develops.

PNG NEWS

IOC: InterOil Corporation today reported on their gas discovery in the Antelope structure that the gas flow in PNG is a “world record natural gas discovery” and should place PNG as a co-leader with Australia in supplying Asian markets.

MOVERS
Yesterday’s movers on the local bourse 02/03/09:

BSP: 1.05%