POMSoX UPDATE

LOCAL STOCKS

The market was relatively active with BSP and NBO closing at K0.64 and K19.00 respectively. Whilst CCP fell 3.44 percent to K1.40 with offers closing the day at K1.44 and OSH finished at K12.99 with small volumes changing hands.

Resources outperformed globally with copper rallying to a fresh four month high, while crude oil rose almost $2 per barrel to $73.91 as the precious metal clipped 0.16 percent to close at $1248.10 an ounce.

The market should open higher today after offshore markets moved into positive territory riding on strong gains in Australia which continued into Europe last night; Pre-open phase has a bidder for CGA shares at K0.50 as MGO buyers are lined up at a high K0.27. In currency news, Kina is buying 0.4264 and selling at 0.3819 aussie.

PNG NEWS

MSTG: Metals Storm Limited came out yesterday with their Half Year results reporting a 29 percent rise in its revenues from ordinary activities, but a 35 percent net loss attributable to its members.

MOVERS
Yesterday’s movers on the bourse 31/08/10;
CCP: -3.44%

POMSoX UPDATE

LOCAL STOCKS

Tuesday, saw the bourse end relatively calm, with BSP remaining steady at K0.64, while OSH opened the day strong seeing trades at K12.99; NBO slid 1.04 percent finishing at K19.00. IOC on the NYSE rose 1.89 percent to $58.78 reaching a day’s high of $59.92 per share.

In Commodities, gold topped at $1250 an ounce as oil settled at $71.58 per barrel on the back of storms hitting the East Coast of US.

The market is set to open flat this morning with buyers for NBO steady at K19.00, as OSH sellers are lining up at K12.99. Kina against aussie is buying 0.4473 and selling at 0.3896 today.

PNG NEWS

OSH: Oil Search will pay a 2010 interim dividend of US$0.02 (US two cents) per ordinary share. The record date is on the 17th September while the payment date is on the 11th of October.

MOVERS
Yesterday’s movers on the bourse 31/08/10;
BSPHA: 0.39%
NBO: -1.04%
OSH: 3.92%