LOCAL STOCKS
The local bourse closed steady yesterday as BSP rebounded closing at K0.85 with reasonable volumes changing hands. Companies that traded yesterday saw moderate changes with CGA losing 1.42 percent to end at K0.69. While in overseas saw IOC closed at US$26.77 sliding 2.58 percent.
The gains on the markets yesterday were limited as concerns grew about Chinese banks limiting lending and thus hurting commodity prices and the share market last night. Sellers for LGL are lined up at K6.30 and CPL bids are at a high K2.45.
PNG NEWS
In Currency news, Kina is up today buying 0.4773 and selling 0.4320 Aussie, while it is trading at 0.3529 US Cents.
Local politics news had PNG parliament went into recess as the government and opposition continue their bitter clash over yesterday’s no confidence sparkle.
MOVERS
Wednesday’s gainers and losers on the local bourse 29/07/09:
BSP: 2.43%
CCP: 0.52%
CGA: -1.42%
NBO: 0.45%
OSH: -1.28%
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