POMSoX Update

WEDNESDAY 24th JUNE 2009

LOCAL STOCKS

Activity picked up on the local bourse yesterday as bidders for BSP queued in at K0.74 and closed the day at K0.78. Oil search went on to reaffirm its reputation as a volatile stock by closing lower at K11.60 after a brief stint at K12.40 the previous day. Airlines PNG also lost 2.77% to settle at K0.70 yesterday. On the latter, New Britain Palm Oil gained 0.16% to close higher at K18.05. The listing of BSP Notes saw its market placing bidders for the new security at K24,500.00 and sellers K26,000.00.

PNG NEWS
The KSi dropped by 252.82 points or 4.64% to 5,200.58. This was mostly due to the lead markets and commodity prices closing weaker yesterday on the back of economic forecasts by the world bank that the world recession is far from over.
MOVERS
Movers for Tuesday 23/06/09:
OSH: -13.10%
CGA: -2.77%
NBO: 0.16%