POMSoX UPDATE

LOCAL STOCKS
KSi lost 548 points yesterday to close at 6592 points, attributed to BSP and LGL finishing weaker at K0.65 and K8.61 respectively, while CPL closed the day unchanged at K2.95 over light volumes. IOC on the NYSE dropped 1.01 percent to end the day at $46.05 as NBPO on the LSE concluded at GBP4.94 per share.

The market may open stronger today on the back of positive leads from overseas markets after the US broke a seven day slide, after traders sort through the market for beaten down stocks.

Pre-open phase of the market has bids for OSH as high as K13.44, while sellers for CCP are lined up at K1.53. In currency news, Kina for the past few days has been strong against the aussie trading above the 0.4000 aussie markets. Today it is buying 0.4459 and selling 0.3994 aussie.

PNG NEWS

MOS: Mosaic Oil Limited released an update on the AGL proposal to acquire all of the issued shares in Mosaic at a cash price of 15 cents per share with a scrip alternative.

MOVERS
Yestertday’s movers on the bourse 06/07/10;
BSP: -1.51%
LGL: -16.40