POMSoX UPDATE

LOCAL STOCKS

The domestic bourse closed lower yesterday with BSP, CCP and OSH shed 4.87 percent, 0.56 percent and 6.66 percent respectively. OSH downbeat was tracking a 10 percent fall in production this calendar year after delivering 2009 output. Other stocks remain unchanged as of yesterday’s trade.

The market this morning may open flat at back of international bourses assimilating worse than expected US employment data causing a weak start. The pre – open phase of market, has offers for HIG and CGA lined at 95t and 61t respectively. Our kina this morning is buying aussie at 0.4357 and selling at 0.3944.

NEWS
OHS released its 4th quarter production report yesterday, with output of 2.2 mmmboe which is 6 percent higher than the third quarter. Annual production for the year was 8.1mmboe. This is 6 percent below 2008 levels.

MOVERS
Yesterday’s risers and fallers on the market 29/01/10;
BSP: - 4.87%
CCP: - 0.58%
OSH: - 6.66%