POMSoX UPDATE

LOCAL STOCKS

The market was quiet yesterday, with small volumes registering for OSH and NGIP at K13.42 and K1.30 respectively. Overseas, NGE closed at 21 cents with offers ending at 21.5 cents. On the Resources front, base metals finished mixed with the precious metal dipping 0.53 percent to $1181.90 per ounce, as crude added 53 cents to $76.54 per barrel.

This morning may see the market open slightly higher riding on reports of potential stimulus plans in China, and as business activity in US improves. Pre-open phase has sellers lined for OSH at a low K13.40, while CPL shares are available at K2.95. In currency news, Kina is buying 0.4379 and selling 0.3922 aussie.

PNG NEWS

OSH: Oil Search Limited yesterday announced the appointment of Dr Agu Kantsler as a non- executive director of its board.

MOVERS
Yesterday’s movers on the bourse 19/07/10;
MGO: -2.27%