LOCAL STOCKS
Friday saw the market close higher rebounding from a weaker finish on Thursday gaining 3.64 percent to 5,347.50; BSP still maintained its level at K0.80 on light volumes. While LGL and OSH closed 5.93 and 12.00 percent respectively.
The market this morning should open stronger after the KSi ended in positive territory last Friday; the pre-open phase of the market has offers for CCP at K1.88 and on the currency front kina is buying 0.4534 and selling at 0.4104 Aussie.
PNG NEWS
CUE: Cue Energy Resources released to the market an announcement that Mr E.G. Albers has elected to resign as a director of Cue effective 5pm 4 September 2009. Geoff Albers founded Cue Energy Resources in 1981 and except for one year, has been a director of the company ever since, including being Chairman of the company for 19 years.
CUE: Weekly Drilling Report on Manaia-1 Appraisal Well was also released by Cue Energy Resources Limited.
MOVERS
Last Friday’s movers on the local bourse 28/08/09;
BSP: 1.25%
CGA: 4.61%
LGL: 5.93%
NAG: -5.12%
NBO: 2.34%
OSH: 12.00%
Monday, August 31, 2009
Thursday, August 27, 2009
POMSoX UPDATE
LOCAL STOCKS
BSP declined 1.23 percent to close at K0.80 with light volumes; while OSH ended flat at K12.50 yesterday. Resulting in the KSi sliding 10 points to 5,249.95.
Today should see the market open flat with shares for CGA available at K0.68 and buyers for CPL are lined up at K2.49. Our Kina is higher today buying 0.4616 and selling at 0.4179 aussie.
MOVERS
Wednesday’s movers on the local bourse 26/0809:
BSP:-1.23%
OSH: 0.08%
BSP declined 1.23 percent to close at K0.80 with light volumes; while OSH ended flat at K12.50 yesterday. Resulting in the KSi sliding 10 points to 5,249.95.
Today should see the market open flat with shares for CGA available at K0.68 and buyers for CPL are lined up at K2.49. Our Kina is higher today buying 0.4616 and selling at 0.4179 aussie.
MOVERS
Wednesday’s movers on the local bourse 26/0809:
BSP:-1.23%
OSH: 0.08%
Wednesday, August 26, 2009
POMSoX UPDATE
LOCAL STOCKS
Yesterday had the market finished flat with trades for BSP registering at K0.80 while OSH fell 1.65 percent with a reasonable volume. The newly listed stock New Guinea Islands Produce Company Ltd trading under ticker NAG also witnessed trades at K1.95.
This morning in the pre-open phase of the market has bids for OSH at K11.21 while offers for LGL are queued up at K6.25. The market may be off to a slow start today. PGK is buying 0.4577 and selling at 0.4143 aussie.
PNG NEWS
MGO: Marengo Mining reported yesterday that the company aims to distribute ordinary shares at C$0.086 in Canada to raise capital to fund the DFS at Yandera.
NGIP: New Guinea Islands Produce Company Limited yesterday listed on the local bourse trading under the ticker symbol NAG; a premier company in processing cocoa, and also exporting premium cocoa directly to manufacturing companies in US, Europe and Asia.
OSH: Oil search Limited yesterday reported that its profit dropped 73 percent: NPAT of US$35.6 million. Result was largely driven by lower oil prices.
MOVERS
Tuesday’s movers on the share market 25/08/09:
BSP: 0.84%
OSH: -1.65%
Yesterday had the market finished flat with trades for BSP registering at K0.80 while OSH fell 1.65 percent with a reasonable volume. The newly listed stock New Guinea Islands Produce Company Ltd trading under ticker NAG also witnessed trades at K1.95.
This morning in the pre-open phase of the market has bids for OSH at K11.21 while offers for LGL are queued up at K6.25. The market may be off to a slow start today. PGK is buying 0.4577 and selling at 0.4143 aussie.
PNG NEWS
MGO: Marengo Mining reported yesterday that the company aims to distribute ordinary shares at C$0.086 in Canada to raise capital to fund the DFS at Yandera.
NGIP: New Guinea Islands Produce Company Limited yesterday listed on the local bourse trading under the ticker symbol NAG; a premier company in processing cocoa, and also exporting premium cocoa directly to manufacturing companies in US, Europe and Asia.
OSH: Oil search Limited yesterday reported that its profit dropped 73 percent: NPAT of US$35.6 million. Result was largely driven by lower oil prices.
MOVERS
Tuesday’s movers on the share market 25/08/09:
BSP: 0.84%
OSH: -1.65%
Tuesday, August 25, 2009
POMSoX UPDATE
LOCAL STOCKS
Yesterday saw the local KSi surge 3.64 percent to 5,280.79 following optimistic reports on housing data in the overseas markets. BSP ended higher at K0.81 with modest volumes as OSH jumped almost 9.5 percent to finish the day at K12.70 . IOC in the states finished at US$31.84 while our cross listed NBPO concluded trading at GBP3.90 in London.
Trading on the local markets this morning should open higher with positive sentiment from overseas; BSP offers still remain at K0.80 while LGL shares are at a low K5.90. Our Kina is buying at 0.4571 and selling at 0.4138 Aussie today.
PNG NEWS
In commodities, Gold fell$US11.00 to US$oz943.70, as copper closed higher at $USlb2.915 likewise oil posting 0.50 cents gain to US$74.37
MOVERS
Yesterday’s risers and fallers on the bourse 24/08/09:
BSP: 2.53%
LGL: -0.33%
NBO: -2.29%
OSH: 9.48%
Yesterday saw the local KSi surge 3.64 percent to 5,280.79 following optimistic reports on housing data in the overseas markets. BSP ended higher at K0.81 with modest volumes as OSH jumped almost 9.5 percent to finish the day at K12.70 . IOC in the states finished at US$31.84 while our cross listed NBPO concluded trading at GBP3.90 in London.
Trading on the local markets this morning should open higher with positive sentiment from overseas; BSP offers still remain at K0.80 while LGL shares are at a low K5.90. Our Kina is buying at 0.4571 and selling at 0.4138 Aussie today.
PNG NEWS
In commodities, Gold fell$US11.00 to US$oz943.70, as copper closed higher at $USlb2.915 likewise oil posting 0.50 cents gain to US$74.37
MOVERS
Yesterday’s risers and fallers on the bourse 24/08/09:
BSP: 2.53%
LGL: -0.33%
NBO: -2.29%
OSH: 9.48%
Monday, August 24, 2009
POMSoX UPDATE
LOCAL STOCKS
The market ended the week lower on Friday despite gains in overseas; as BSP and LGL fell 2.46 and 1.33 percent respectively. OSH added 10 toeas to close at K11.60. the markets soared as economic reports flow, that manufacturing and housing should show biggest gains as small improvements signal recession's end.
Positive leads from overseas may have the market open higher today with shares for BSP are at K0.81 while sellers for OSH are as low as K12.70.
PNG NEWS
The kina is weaker this morning buying 0.4570 and selling at 0.4137 Aussie.
MOVERS
Last Friday’s movers on the market 21/08/09:
BSP: -2.46%
LGL: -1.33%
OSH: 0.85%
The market ended the week lower on Friday despite gains in overseas; as BSP and LGL fell 2.46 and 1.33 percent respectively. OSH added 10 toeas to close at K11.60. the markets soared as economic reports flow, that manufacturing and housing should show biggest gains as small improvements signal recession's end.
Positive leads from overseas may have the market open higher today with shares for BSP are at K0.81 while sellers for OSH are as low as K12.70.
PNG NEWS
The kina is weaker this morning buying 0.4570 and selling at 0.4137 Aussie.
MOVERS
Last Friday’s movers on the market 21/08/09:
BSP: -2.46%
LGL: -1.33%
OSH: 0.85%
Friday, August 21, 2009
POMSoX UPDATE
LOCAL STOCKS
The KSi gained some territory adding 84 points to 5,123.48 on modest volumes after positive leads from overseas fueled by oil; NBO and OSH closed stronger at K17.00 and K11.50 respectively as BSP finished unchanged.
The market may open flat, with bids for BSP as high as K0.81 while sellers for NBO are at K17.00. Kina is buying 0.4606 and selling at a rate of 0.4169.
MOVERS
Yesterday’s movers on the local bourse 20/08/09:
NBO: 9.60%
OSH: 3.51%
The KSi gained some territory adding 84 points to 5,123.48 on modest volumes after positive leads from overseas fueled by oil; NBO and OSH closed stronger at K17.00 and K11.50 respectively as BSP finished unchanged.
The market may open flat, with bids for BSP as high as K0.81 while sellers for NBO are at K17.00. Kina is buying 0.4606 and selling at a rate of 0.4169.
MOVERS
Yesterday’s movers on the local bourse 20/08/09:
NBO: 9.60%
OSH: 3.51%
Thursday, August 20, 2009
POMSoX UPDATE
LOCAL STOCKS
Yesterday, saw the resources drive the markets up rebounding from a sharp fall in the equities market with better results from the retailers. While the local market performed weaker declining 2.23 percent to 5,039.54 riding on negative leads from overseas. The highlights of the day included NBO advancing 10.8 percent.
The market may open higher after the energy companies paced ahead on the news that oil inventories declined. The pre-open phase of the market has bids for MGO at K0.25.
PNG NEWS
In currency news, our Kina is buying 0.4638 and selling 0.4198 Aussie weakened by a stronger greenback.
MOVERS
Yesterdays’ gainers and losers on the market 19/08/09:
CCP: 0.53%
MGO: -3.84%
NBO: 10.78%
Yesterday, saw the resources drive the markets up rebounding from a sharp fall in the equities market with better results from the retailers. While the local market performed weaker declining 2.23 percent to 5,039.54 riding on negative leads from overseas. The highlights of the day included NBO advancing 10.8 percent.
The market may open higher after the energy companies paced ahead on the news that oil inventories declined. The pre-open phase of the market has bids for MGO at K0.25.
PNG NEWS
In currency news, our Kina is buying 0.4638 and selling 0.4198 Aussie weakened by a stronger greenback.
MOVERS
Yesterdays’ gainers and losers on the market 19/08/09:
CCP: 0.53%
MGO: -3.84%
NBO: 10.78%
Tuesday, August 18, 2009
POMSoX UPDATE
LOCAL STOCKS
The local bourse ended on a calm note with light volumes changing hands, NBO and OSH gained territory closing at K17.90 and K12.00 respectively. While KAM finished unchanged at K1.15; with the release of the University of Michigan’s consumer sentiment survey weakened the major indices overseas.
The market is expected to open lower with negative leads offshore, BSP has sellers lined up at K0.81 while bids for MGO are at a high K0.24.
PNG NEWS
CPL: City Pharmacy Limited yesterday reported that Mr. Mahesh Patel has been appointed as the new Executive Chairman after the untimely death of Mr. Allan Jarvis earlier this year.
In currency news, kina is buying 0.4719 and 0.4272 Aussie.
MOVERS
Yesterday’s movers on the local bourse 17/08/09:
BSP: 1.25%
NBO: 8.09%
OSH: 8.01%
The local bourse ended on a calm note with light volumes changing hands, NBO and OSH gained territory closing at K17.90 and K12.00 respectively. While KAM finished unchanged at K1.15; with the release of the University of Michigan’s consumer sentiment survey weakened the major indices overseas.
The market is expected to open lower with negative leads offshore, BSP has sellers lined up at K0.81 while bids for MGO are at a high K0.24.
PNG NEWS
CPL: City Pharmacy Limited yesterday reported that Mr. Mahesh Patel has been appointed as the new Executive Chairman after the untimely death of Mr. Allan Jarvis earlier this year.
In currency news, kina is buying 0.4719 and 0.4272 Aussie.
MOVERS
Yesterday’s movers on the local bourse 17/08/09:
BSP: 1.25%
NBO: 8.09%
OSH: 8.01%
Friday, August 14, 2009
Oil Price find support at US$70
Oil price finds support at US$70.00 a barrel after renewed optimism that the global economy is stabilising.
POMSoX UPDATE
LOCAL STOCKS
The KSi added 149.01 points yesterday to 5,204.06 riding on better performance of oversea stocks; highlights of the day was LGL and OSH ending in positive territory again supported by commodity prices tracking equity markets; while on the downside was BSP losing 1.21 percent finishing at K 0.81.
The market is expected to open higher following positive leads from the global markets; commodities may also provide some support, too. BSP has offers at K0.81 while LGL sellers are lined up at K6.00.
PNG NEWS
In currency news kina is buying 0.4619 and selling 0.4182 Aussie today. In commodities all the base metals closed higher with oil and gold ending at US$70.95 and US$956.50 respectively.
MOVERS:
Yesterday’s movers on the local market 13/08/09:
BSP: -1.21%
LGL: 1.35%
OSH: 0.45%
The KSi added 149.01 points yesterday to 5,204.06 riding on better performance of oversea stocks; highlights of the day was LGL and OSH ending in positive territory again supported by commodity prices tracking equity markets; while on the downside was BSP losing 1.21 percent finishing at K 0.81.
The market is expected to open higher following positive leads from the global markets; commodities may also provide some support, too. BSP has offers at K0.81 while LGL sellers are lined up at K6.00.
PNG NEWS
In currency news kina is buying 0.4619 and selling 0.4182 Aussie today. In commodities all the base metals closed higher with oil and gold ending at US$70.95 and US$956.50 respectively.
MOVERS:
Yesterday’s movers on the local market 13/08/09:
BSP: -1.21%
LGL: 1.35%
OSH: 0.45%
Thursday, August 13, 2009
Airlines PNG Update on Missing Aircraft
CANBERRA Rescuers have reached the wreckage of a passenger aircraft that crashed in Papua New Guinea and found no survivors among the 13 passengers and crew, Australian Prime Minister Kevin Rudd said on Wednesday.
POMSoX UPDATE
LOCAL STOCKS
The local market ended slightly higher on modest volumes, the KSi added 15.95 points or 0.32 percent to 5,055.05. Resource stocks moved up with LGL and OSH closing at K6.00 and K11.10 respectively, despite the metal prices moving otherwise. Last night in overseas saw the markets in US and Europe rebounded riding on the news that Fed Reserve gave some assurance that the economy is stabilizing.
The market may open higher after positive leads metals may also push the market higher today. On the pre-open phase of the market this morning has buyers queued at K2.49 for CPL while offers are available for NBO at K17.90.
PNG NEWS
In currency news, Kina maintained is buying at 0.4674 and selling at 0.4231 Aussie.
MOVERS
Wednesday’s gainers and losers on the local bourse12/08/09:
BSP: -1.21%
LGL: 1.35%
OSH: 0.45%
The local market ended slightly higher on modest volumes, the KSi added 15.95 points or 0.32 percent to 5,055.05. Resource stocks moved up with LGL and OSH closing at K6.00 and K11.10 respectively, despite the metal prices moving otherwise. Last night in overseas saw the markets in US and Europe rebounded riding on the news that Fed Reserve gave some assurance that the economy is stabilizing.
The market may open higher after positive leads metals may also push the market higher today. On the pre-open phase of the market this morning has buyers queued at K2.49 for CPL while offers are available for NBO at K17.90.
PNG NEWS
In currency news, Kina maintained is buying at 0.4674 and selling at 0.4231 Aussie.
MOVERS
Wednesday’s gainers and losers on the local bourse12/08/09:
BSP: -1.21%
LGL: 1.35%
OSH: 0.45%
Wednesday, August 12, 2009
POMSoX UPDATE
LOCAL STOCKS
Yesterday saw the local index closed lower, down by 148.45 points or 2.86 percent to 5,039.10; CCP lost 1.05 percent at K1.88 as CPL gained 1.63 percent to end at K2.49. OSH ended weaker on the back of weaker oil prices likewise IOC on the NYSE $27.18 loosing 1.08 percent.
Most of the markets again skidded after the market awaited the Federal Reserves latest decisions on its guidance and monetary policy on the outlook for recovery. The market may open in the red with negative leads from overseas.
PNG NEWS
The local currency is buying 0.4694 and selling 0.4249 Aussie today remaining steady as the global economy remains cautious towards market.
MOVERS
Thursday’s movers on the local bourse 11/10/09:
CCP: -1.05%
CPL: 1.63%
OSH: -7.43%
Yesterday saw the local index closed lower, down by 148.45 points or 2.86 percent to 5,039.10; CCP lost 1.05 percent at K1.88 as CPL gained 1.63 percent to end at K2.49. OSH ended weaker on the back of weaker oil prices likewise IOC on the NYSE $27.18 loosing 1.08 percent.
Most of the markets again skidded after the market awaited the Federal Reserves latest decisions on its guidance and monetary policy on the outlook for recovery. The market may open in the red with negative leads from overseas.
PNG NEWS
The local currency is buying 0.4694 and selling 0.4249 Aussie today remaining steady as the global economy remains cautious towards market.
MOVERS
Thursday’s movers on the local bourse 11/10/09:
CCP: -1.05%
CPL: 1.63%
OSH: -7.43%
Monday, August 10, 2009
POMSoX UPDATE
LOCAL STOCKS
Trading on the Port Moresby share market closed fairly slow last week. However, NBO finished strongly to end the weeks trading higher at K17.68 followed closely by OSH at K11.90.
Today’s Exchange Rate has PGK buying AUD at 0.4658 and selling at 0.4216.
MOVERS
Friday’s movers on the local bourse 06/08/09:
OSH: 2.58%
NBO: 6.44%
Trading on the Port Moresby share market closed fairly slow last week. However, NBO finished strongly to end the weeks trading higher at K17.68 followed closely by OSH at K11.90.
Today’s Exchange Rate has PGK buying AUD at 0.4658 and selling at 0.4216.
MOVERS
Friday’s movers on the local bourse 06/08/09:
OSH: 2.58%
NBO: 6.44%
Thursday, August 6, 2009
POMSoX UPDATE
LOCAL STOCKS
Trading on the Port Moresby share market closed lower yesterday with the KSi finishing weaker by 11.45% to 5,116.42. The major drag of the day was Bank South Pacific closing lower at K0.82 losing 1.2%. Light volumes were also seen with Credit Corp and Airlines PNG. Junior Miner Marengo Mining provided the only support to the market gaining 4% to close the day at K0.26.
Otherwise, trading on the local bourse is expected to open mixed; with much speculation on the international markets concerning data pointing to a slow recovery.
MOVERS
Yesterday’s movers on the local bourse 06/08/09:
BSP: -1.20%
MGO: 4.00%
Trading on the Port Moresby share market closed lower yesterday with the KSi finishing weaker by 11.45% to 5,116.42. The major drag of the day was Bank South Pacific closing lower at K0.82 losing 1.2%. Light volumes were also seen with Credit Corp and Airlines PNG. Junior Miner Marengo Mining provided the only support to the market gaining 4% to close the day at K0.26.
Otherwise, trading on the local bourse is expected to open mixed; with much speculation on the international markets concerning data pointing to a slow recovery.
MOVERS
Yesterday’s movers on the local bourse 06/08/09:
BSP: -1.20%
MGO: 4.00%
Tuesday, August 4, 2009
POMSoX UPDATE
LOCAL STOCKS
The local bourse finished calm with modest volumes changing hands; The KSi added 7.84 points to 4,860.29 on the back of stronger commodity prices. BSP ended unchanged as CPL slid 0.80 percent to K2.45 while OSH added 5 toeas before close.
The market is expected to continue upwards riding again on positive leads from the international indices. Offers for BSP are lined up at K0.83 while buyers for BSP are queued at K16.60.
PNG NEWS
In Corporate news, MGO released its quarterly activities report stressing a cash balance of A$5.09 million and also reporting metallurgical tests confirming a high quality, low impurity copper sulphide concentrate.
MOVERS
Yesterday’s movers on the local bourse 03/08/09:
CPL: -0.80%
OSH: 0.45%
The local bourse finished calm with modest volumes changing hands; The KSi added 7.84 points to 4,860.29 on the back of stronger commodity prices. BSP ended unchanged as CPL slid 0.80 percent to K2.45 while OSH added 5 toeas before close.
The market is expected to continue upwards riding again on positive leads from the international indices. Offers for BSP are lined up at K0.83 while buyers for BSP are queued at K16.60.
PNG NEWS
In Corporate news, MGO released its quarterly activities report stressing a cash balance of A$5.09 million and also reporting metallurgical tests confirming a high quality, low impurity copper sulphide concentrate.
MOVERS
Yesterday’s movers on the local bourse 03/08/09:
CPL: -0.80%
OSH: 0.45%
Monday, August 3, 2009
POMSoX UPDATE
LOCAL STOCKS
On Friday saw the local market closed lower despite the gains earlier in the month; LGL and OSH fell 8.77 and 0.45 percent respectively, while CCP closed unchanged at K1.89 with reasonable volumes. The international markets ended the month better on the back of better GDP data for the second quarter.
Again with positive leads from overseas the local bourse is expected to continue its steady climb as more positive news are being released by the trading companies.
PNG NEWS
In politics, the battle is still on with the opposition and government playing the numbers game before the ‘vote of no confidence’ which is scheduled for the month of November.
Our kina this morning is buying 0.4664 and selling at 0.4222 Aussie. The central bank released its Kina Facility Rate (KFR) for the month of August maintaining it at 8.00 percent.
MOVERS
Last Friday’s movers on the exchange 31/07/09:
BSP: -2.38%
LGL: -8.77%
MGO: 3.84%
OSH: -0.45%
On Friday saw the local market closed lower despite the gains earlier in the month; LGL and OSH fell 8.77 and 0.45 percent respectively, while CCP closed unchanged at K1.89 with reasonable volumes. The international markets ended the month better on the back of better GDP data for the second quarter.
Again with positive leads from overseas the local bourse is expected to continue its steady climb as more positive news are being released by the trading companies.
PNG NEWS
In politics, the battle is still on with the opposition and government playing the numbers game before the ‘vote of no confidence’ which is scheduled for the month of November.
Our kina this morning is buying 0.4664 and selling at 0.4222 Aussie. The central bank released its Kina Facility Rate (KFR) for the month of August maintaining it at 8.00 percent.
MOVERS
Last Friday’s movers on the exchange 31/07/09:
BSP: -2.38%
LGL: -8.77%
MGO: 3.84%
OSH: -0.45%
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