POMSoX UPDATE

LOCAL STOCKS

The local market yesterday witnessed light volumes changing hands for BSP and HIG at K0.65 and K0.64 respectively; while others closed steady. KSi advanced into positive territory, adding 5 points to finish at 6641 points. In overseas, NGE ended at 21 cents with reasonable volumes.

On the resources front, most of the metals edged higher after speculation that China will ease measures to curb growth and also US building permits rising for the month of June boosting demand prospects for copper. Gold posted a gain of $9.80 to $1191.70 per ounce last night.

This morning will see the markets open the day flat but should close higher after positive sentiments that the Global economic recovery is on track. The pre-open phase of the market has BSPHA available at K25400.00; the note pays 11 percent per 6 months. Kina this morning, is buying 0.4304 and selling 0.3855 aussie.

PNG NEWS

NGE: New Guinea Energy yesterday did a private placement of 15 million ordinary shares to Macquarie Bank Limited at 20 cents aussie raising 3 million dollars.

No other releases to the market.

MOVERS
Yesterday’s movers on the bourse 20/07/10;
BSP: 1.56%
HIG: 1.53%
NBO: -0.05%