LOCAL STOCKS
Trading on the local bourse was quite active with trades registering for the trading companies; CCP closed marginally weak at K1.79 likewise NGP down 2.18 percent while LGL advanced 4.00 percent on the back of a stronger gold price. The broader KSi added 58 points to close at 5,835.42 yesterday.
In commodities the last night saw Gold gained US$22 to close at US$1040 per ounce as oil surged 0.56 percent to conclude trading at US$71.29.
Today may see the market open slightly higher riding on positive news from the trading companies. The kina this morning is buying 0.4336 and selling 0.3925 aussie.
PNG NEWS
CUE: Cue Energy released a report that Petro China finalized its purchase of Singapore Petroleum company Limited.
MOS: Mosaic Oil also reported successful completion of $10.9 million placement.
OSH: Oil Search limited yesterday released a presentation on the 2009 JP Morgan Australasian Conference.
MOVERS
Yesterday’s movers on the local bourse 06/10/09:
BSP: -1.25%
CCP: -0.55%
LGL: 4.00%
NBO: -5.26%
NGP: -2.18
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