POMSoX UPDATE

LOCAL STOCKS

The KSi was down yesterday losing 0.25 percent to close at 6525 points; HIG and NBO ended the day stronger finishing 6.66 and 2.09 percent respectively. While OSH gave up 30 toeas to conclude trading at K13.69, after reaching a high of K13.70 for the day. On the Aussie market, LGL closed $3.79 as OSH closed at $5.88.

The market received negative leads from overseas as most of the international indices ended lower. The offers for BSP remain at K0.69 and sellers are lined up at a low K19.45 for NBO. Kina against aussie today is buying 0.4118 and selling at 0.3680.

PNG NEWS

BSP: The largest banking network in South Pacific, BSP and IFC enter into talks for debt and equity investment.

CGA: Airlines of PNG announced Augustine Mano was appointed as an additional director, while Michael Koisen replaced Steve O’Brien as company secretary.

LGL: Lihir Gold Limited accepts the offer by Australia’s biggest gold miner Newcrest Mining to merge, an announcement was released yesterday reporting both companies entering into Merger implementation agreement.

MOVERS
Yesterday’s movers on the bourse 04/05/10;
HIG: 6.66%
LGL: 1.25%
NBO: 2.09%
OSH: -2.14%