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%