Monday, May 25, 2009

POMSoX UPDATE

LOCAL STOCKS

Last Friday saw the local market closed calm with BSP advancing 2.59 percent to close at K0.79 so did MGO surging 3.84 percent to K0.27 with a reasonable volume. IOC ended weaker at US$35.94 while NBPO on the LSE concluded the week at GBP3.64 equivalently K16.93 on the local bourse.

The market is expected to open flat with mixed leads from the international markets. LGL bids are lined up at K6.10 whereas on the ASX they are lined up at A$3.20.

PNG NEWS

BSA: The Umbrella Benefit Sharing Agreement was finally signed granting a 7 percent equity in the LNG project on the back of government’s commitment to offload 5 percent of its stake in the multibillion Kina project.

MOVERS
Last Friday’s movers on the exchange 24/05/09:
BSP: 2.59%
MGO: 3.84%
OSH: 0.09%