POMSoX UPDATE

LOCAL STOCKS

The bourse closed relatively active yesterday with modest volumes changing hands. KSi added 130.90 points or 2.56 percent to 5,241.66. BSP lost 1.28 percent to close at K0.77 while CGA and OSH soared 6 and 8 percent respectively. In overseas last night saw IOC ended stronger at US$36.35 as NBPO lost 2 pence to conclude the day at GBP3.97.

In the opening phase of trading today has bids for BSP lined up at K0.70 with bids are as high as K0.26 for MGO.
PNG NEWS
HIG: Highlands Pacific Limited reported yesterday the construction of the US$1.37billion Ramu nickel-cobalt project in PNG is on time and budget with commissioning later this year.

IOC: Inter Oil Corporation completed its capital raising of US$70.44 million through share common stock offering in US.

Resources has pushed up the market into green territory with Gold, copper and Oil posting gains on the back of a weaker US dollar.

MOVERS
Yesterday’s movers on the local bourse 11/06/09:
BSP: -1.28%
CGA: 6.34%
MGO: -3.70%
NBO: 0.22%
OSH: 8.10%