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%
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- BSP Capital is the leading stock broker and fund manager in Papua New Guinea. This site is designed to offer open discussion and market information. Nothing on this site should be thought of as investment advice. There are risks to investing and not all risks are explained here. Always speak with an adviser before investing. www.bsp-capital.com
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