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%