POMSoX UPDATE

LOCAL STOCKS

The local market saw another quiet day with only a few trades going through, resulting in the KSi finishing unchanged at 6605 points. BSP witnessed trades at K0.65 reaching a high of K0.66, while CCP finished at K1.53 per share. In overseas, IOC closed stronger by 84 cents to $47.36.

Pre-open phase of the market today has buyers for BSP lined up at K0.65, and NBO has sellers at a low K19.20. The market today should open higher, after strong leads from overseas markets. Kina this morning is buying 0.4375 and selling 0.3919 aussie.

PNG NEWS

IOC: InterOil Corporation released a drilling update on its Antelope 2 structure that the well flowed at a stabilized gas rate between 5.7 and 7.3 million cubic feet of natural gas per day (MMcfd) through various choke sizes with no formation water produced.

LGL: Lihir Gold Limited’s Board of Directors has approved the de‐listing of the company’s shares from the Toronto Stock Exchange (TSX). The decision to seek a delisting was taken due to the low turnover of LGL shares on the Toronto exchange, and the small level of LGL share ownership in Canada. Trading in LGL shares on the TSX is scheduled to cease from the close of trade on July 12, 2010.

MOVERS
Yesterday’s movers on the bourse 07/07/10;
Nil movers on the bourse.