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%