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%
Thursday, September 2, 2010
Wednesday, September 1, 2010
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%
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%
Friday, August 27, 2010
National Court of Papua New Guinea Approves Scheme of Arrangement
Lihir Gold Ltd (“LGL”) advises that the National Court of Papua New Guinea today approved the Scheme of Arrangement by which Newcrest Mining Ltd ("Newcrest") will acquire all of the issued shares of LGL (“the Scheme”). This follows the approval of the Scheme by LGL shareholders at the Scheme Meeting on 23 August 2010.
Thursday, August 26, 2010
POMSoX UPDATE
LOCAL STOCKS
The local market was quiet yesterday with BSP shares registering trades at K0.64, while others finished unchanged. In overseas, most of the markets closed generally higher after a late rally last night.
The bourse today has bids for BSP as high as K0.64 and LGL buyers are lined up at K9.10. Our Kina versus the aussie dollar this morning is buying 0.4266 and selling at 0.3821.
PNG NEWS
CUE: Cue Energy reported yesterday on its Financial year ending 30th June highlighting production income up 80% to A$54.7 million and its gross profit up 98% to A$43.6 million. It also reduced its debt to US$12 million.
LGL: Further to the announcement on 23 August 2010, LGL advises the New Newcrest Shares will
commence trading on ASX and POMSoX on a normal settlement basis on Wednesday,
22 September 2010.
MOVERS
Nil Movers on the market yesterday 25/08/10.
The local market was quiet yesterday with BSP shares registering trades at K0.64, while others finished unchanged. In overseas, most of the markets closed generally higher after a late rally last night.
The bourse today has bids for BSP as high as K0.64 and LGL buyers are lined up at K9.10. Our Kina versus the aussie dollar this morning is buying 0.4266 and selling at 0.3821.
PNG NEWS
CUE: Cue Energy reported yesterday on its Financial year ending 30th June highlighting production income up 80% to A$54.7 million and its gross profit up 98% to A$43.6 million. It also reduced its debt to US$12 million.
LGL: Further to the announcement on 23 August 2010, LGL advises the New Newcrest Shares will
commence trading on ASX and POMSoX on a normal settlement basis on Wednesday,
22 September 2010.
MOVERS
Nil Movers on the market yesterday 25/08/10.
Friday, August 20, 2010
POMSoX UPDATE
LOCAL STOCKS
The local bourse was quiet yesterday, with BSP finishing steady over light volumes, while NBO slid -0.05 percent to K19.00. IOC on the NYSE ended at $63.81 adding 13 cents over night.
Pre-open phase of the market has bids for LGL as high as K9.05, as OSH bids are set to open at K13.00. Kina against aussie this morning is buying 0.4233 and selling 0.3792.
PNG NEWS
MSTG: Metal Storm Limited reported the results of the resolutions passed at the extraordinary general meeting of share holders.
MOVERS
Thursday’s movers on the local bourse 19/08/10;
NBO: -0.05%
The local bourse was quiet yesterday, with BSP finishing steady over light volumes, while NBO slid -0.05 percent to K19.00. IOC on the NYSE ended at $63.81 adding 13 cents over night.
Pre-open phase of the market has bids for LGL as high as K9.05, as OSH bids are set to open at K13.00. Kina against aussie this morning is buying 0.4233 and selling 0.3792.
PNG NEWS
MSTG: Metal Storm Limited reported the results of the resolutions passed at the extraordinary general meeting of share holders.
MOVERS
Thursday’s movers on the local bourse 19/08/10;
NBO: -0.05%
Wednesday, August 18, 2010
POMSoX UPDATE
LOCAL STOCKS
The bourse was again quiet yesterday with only light volumes changing hands for BSP and CCP at K0.65 and K1.45 respectively. While MGO lost 4.54 percent to close at K0.42 per share. KSi moved into positive territory yesterday adding 22 points to end at 6707 points.
The offshore markets rebounded off losses yesterday on positive corporate earnings from agricultural companies and FEDs dismissal of deflation as a concern. Today the local bourse will start the day strong with sellers for BSP shares at K0.66 and bids for LGL as high as K9.00. Kina versus aussie today is buying 0.4171 and selling at 0.3736.
MOVERS
Yesterday’s mover on the local share market 17/08/10;
BSP: 1.56%
LGL: 0.55%
MGO: -4.54%
The bourse was again quiet yesterday with only light volumes changing hands for BSP and CCP at K0.65 and K1.45 respectively. While MGO lost 4.54 percent to close at K0.42 per share. KSi moved into positive territory yesterday adding 22 points to end at 6707 points.
The offshore markets rebounded off losses yesterday on positive corporate earnings from agricultural companies and FEDs dismissal of deflation as a concern. Today the local bourse will start the day strong with sellers for BSP shares at K0.66 and bids for LGL as high as K9.00. Kina versus aussie today is buying 0.4171 and selling at 0.3736.
MOVERS
Yesterday’s mover on the local share market 17/08/10;
BSP: 1.56%
LGL: 0.55%
MGO: -4.54%
Tuesday, August 17, 2010
POMSoX UPDATE
LOCAL STOCKS
Nothing much happened on the local market yesterday, the market was quiet; BSP slid 1.53 percent settling at K0.64, while LGL ended unchanged at K9.00. KSi opened the week on weaker note losing 6 points to close at 6685 points.
The market is set to open flat this morning after steady leads from overseas following modest losses in the past weeks; CCP sellers are lined up at K1.45 and OSH has shares available at a low K13.24 per share. In Currency, Kina against aussie today is buying 0.4209 and selling 0.3770. No market releases yesterday.
MOVERS
Monday’s mover on the local share market 16/08/10;
BSP: -1.53%
Nothing much happened on the local market yesterday, the market was quiet; BSP slid 1.53 percent settling at K0.64, while LGL ended unchanged at K9.00. KSi opened the week on weaker note losing 6 points to close at 6685 points.
The market is set to open flat this morning after steady leads from overseas following modest losses in the past weeks; CCP sellers are lined up at K1.45 and OSH has shares available at a low K13.24 per share. In Currency, Kina against aussie today is buying 0.4209 and selling 0.3770. No market releases yesterday.
MOVERS
Monday’s mover on the local share market 16/08/10;
BSP: -1.53%
Monday, August 16, 2010
POMSoX UPDATE
LOCAL STOCKS
The local bourse closed relatively active with trades registering for BSP and CPL at K0.65 and K2.95 respectively, as OSH slid 0.07 percent to end the week at K13.26 reaching a high of K13.27. Off shore markets saw most indices closed in the red riding on comments by the FED that the pace of recovery is likely to be modest in the near term than had been anticipated.
The local share market may open slightly lower after mixed leads from overseas, with offers for CCP at a low K1.45 and bidders for OSH lined up at K12.00. Kina today is buying 0.4229 and selling 0.3788 aussie.
MOVERS
Friday’s movers on the bourse 13/08/10;
CCP: -0.68%
CPL: 0.34%
NBO: 0.05%
OSH: -0.07%
The local bourse closed relatively active with trades registering for BSP and CPL at K0.65 and K2.95 respectively, as OSH slid 0.07 percent to end the week at K13.26 reaching a high of K13.27. Off shore markets saw most indices closed in the red riding on comments by the FED that the pace of recovery is likely to be modest in the near term than had been anticipated.
The local share market may open slightly lower after mixed leads from overseas, with offers for CCP at a low K1.45 and bidders for OSH lined up at K12.00. Kina today is buying 0.4229 and selling 0.3788 aussie.
MOVERS
Friday’s movers on the bourse 13/08/10;
CCP: -0.68%
CPL: 0.34%
NBO: 0.05%
OSH: -0.07%
Friday, August 13, 2010
POMSoX UPDATE
LOCAL STOCKS
The market closed on a light note yesterday, with small volumes changing hands for BSP and CCP at K0.66 and K1.46 respectively. KSi was slightly down 0.03 percent to end at 6694 points. Offshore markets were all weaker on the back of disappointing growth data from US, China and Japan.
The market should open lower after negative leads from overseas, the bourse this morning has buying for BSP shares at K0.65, while sellers for NBO are at a low K19.00.Kina this morning is buying 0.4216 and selling 0.3777 aussie.
PNG NEWS
MGO: Marengo Mining Limited reported the completion of its capital raising on TSX raising CA$21 million for the funding of its DFS and regional copper exploration.
MOVERS
Thursday's movers on the bourse 12/08/10;
NBO: -0.05%
OSH: -0.15%
The market closed on a light note yesterday, with small volumes changing hands for BSP and CCP at K0.66 and K1.46 respectively. KSi was slightly down 0.03 percent to end at 6694 points. Offshore markets were all weaker on the back of disappointing growth data from US, China and Japan.
The market should open lower after negative leads from overseas, the bourse this morning has buying for BSP shares at K0.65, while sellers for NBO are at a low K19.00.Kina this morning is buying 0.4216 and selling 0.3777 aussie.
PNG NEWS
MGO: Marengo Mining Limited reported the completion of its capital raising on TSX raising CA$21 million for the funding of its DFS and regional copper exploration.
MOVERS
Thursday's movers on the bourse 12/08/10;
NBO: -0.05%
OSH: -0.15%
Wednesday, August 11, 2010
POMSoX UPDATE
LOCAL STOCKS
Tuesday, saw the bourse close calm with KSi finishing marginally higher at 6697 points, after BSP and CCP finished unchanged at K0.65 and K1.47 respectively.
The market this morning has bids for BSP at a high K0.64, while sellers are lined up at a low K0.65. LGL buyers are queued up at K9.00, while PGK is buying 0.4159 and selling at0.3725 aussie.
PNG NEWS
CUE: Cue Energy Resources Limited is pleased to announce the completion of the sale of its interest in PRL8 in Papua New Guinea for US$5.14M in cash.
MOVERS
Tuesday’s movers on the bourse 10/08/10;
NBO: 1.65%
OSH: -0.22%
Tuesday, saw the bourse close calm with KSi finishing marginally higher at 6697 points, after BSP and CCP finished unchanged at K0.65 and K1.47 respectively.
The market this morning has bids for BSP at a high K0.64, while sellers are lined up at a low K0.65. LGL buyers are queued up at K9.00, while PGK is buying 0.4159 and selling at0.3725 aussie.
PNG NEWS
CUE: Cue Energy Resources Limited is pleased to announce the completion of the sale of its interest in PRL8 in Papua New Guinea for US$5.14M in cash.
MOVERS
Tuesday’s movers on the bourse 10/08/10;
NBO: 1.65%
OSH: -0.22%
Monday, August 9, 2010
POMSoX UPDATE
LOCAL STOCKS
The bourse on Friday finished relatively calm with trades going through for BSP at K0.65, while CCP and OSH dipped 0.68 and 0.07 percent respectively; as KAM ended unchanged at K1.08. KSi edged higher by 11 points to close the week at 6696 points.
Pre-open phase this morning has bids for BSP at a high K0.65, while offers are available at K0.66. OSH has shares available at K13.32. In Currency, kina this morning is buying 0.4193 and selling at 0.3756 aussie. No news on the economic and corporate front.
MOVERS
Friday’s movers on the bourse 6/08/10;
BSP: 3.17%
CCP: -0.68%
OSH: -0.07%
The bourse on Friday finished relatively calm with trades going through for BSP at K0.65, while CCP and OSH dipped 0.68 and 0.07 percent respectively; as KAM ended unchanged at K1.08. KSi edged higher by 11 points to close the week at 6696 points.
Pre-open phase this morning has bids for BSP at a high K0.65, while offers are available at K0.66. OSH has shares available at K13.32. In Currency, kina this morning is buying 0.4193 and selling at 0.3756 aussie. No news on the economic and corporate front.
MOVERS
Friday’s movers on the bourse 6/08/10;
BSP: 3.17%
CCP: -0.68%
OSH: -0.07%
Thursday, August 5, 2010
POMSoX UPDATE
LOCAL STOCKS
Wednesday, had the bourse close relatively active with reasonable volumes changing hands for BSP at K0.64, LGL edged 2.27 percent higher with trades registering at K9.00; on the other hand OSH slid, to close marginally lower at K13.34.
This morning has BSP shares available at K0.65, while CCP sellers are lined up at K1.47. Kina this morning is buying 0.4260 and selling 0.3767 aussie. In economic news, the Bank of PNG released data that inflation was at 5 percent for the March Quarter, while the KFR was maintained at 7 percent for the month of August.
MOVERS
Wednesday’s movers on the bourse 04/08/10 ;
BSP:1.58%
CCP: -0.67%
CPL: 0.33%
LGL: 2.27%
OSH: -0.29%
Wednesday, had the bourse close relatively active with reasonable volumes changing hands for BSP at K0.64, LGL edged 2.27 percent higher with trades registering at K9.00; on the other hand OSH slid, to close marginally lower at K13.34.
This morning has BSP shares available at K0.65, while CCP sellers are lined up at K1.47. Kina this morning is buying 0.4260 and selling 0.3767 aussie. In economic news, the Bank of PNG released data that inflation was at 5 percent for the March Quarter, while the KFR was maintained at 7 percent for the month of August.
MOVERS
Wednesday’s movers on the bourse 04/08/10 ;
BSP:1.58%
CCP: -0.67%
CPL: 0.33%
LGL: 2.27%
OSH: -0.29%
Tuesday, August 3, 2010
POMSoX UPDATE
Apologies, today’s update is not available due to technical difficulties experienced on POMSoX yesterday.
Monday, August 2, 2010
POMSoX UPDATE
LOCAL STOCKS
The bourse on Friday closed relatively active with reasonable volumes changing hands for BSP at K0.63; while LGL ended the week at K8.80 as OSH finished unchanged at K13.39. KSi edged higher by 18.47 points, to conclude the week at 6,640 points.
Pre-open phase this morning has a offer for BSPHA at K25, 400.00 per note as LGL sellers are lined up at a low K9.00. Kina this morning is buying 0.4287 and selling 0.3840 aussie.
MOVERS
Last Friday’s movers on the bourse 30/07/10;
BSP: 4.83%
OSH: -0.76%
The bourse on Friday closed relatively active with reasonable volumes changing hands for BSP at K0.63; while LGL ended the week at K8.80 as OSH finished unchanged at K13.39. KSi edged higher by 18.47 points, to conclude the week at 6,640 points.
Pre-open phase this morning has a offer for BSPHA at K25, 400.00 per note as LGL sellers are lined up at a low K9.00. Kina this morning is buying 0.4287 and selling 0.3840 aussie.
MOVERS
Last Friday’s movers on the bourse 30/07/10;
BSP: 4.83%
OSH: -0.76%
Thursday, July 29, 2010
POMSoX UPDATE
LOCAL STOCKS
The bourse was relatively active yesterday with KSi declining 5 points to close at 6,638.05; BSP settled 1.56 percent lower to K0.63 and CCP lost territory to end the day at K1.49 as LGL edged higher to finish the day at K8.79.
The pre-open phase of the market has offers for CPL and OSH at K2.95 and K13.38 respectively. Kina is buying 0.4356 and selling 0.3902 aussie.
MOVERS
Yesterday’s movers on the bourse 28/07/10;
BSP: -1.56%
CCP: -0.66%
LGL: 0.11%
NBO: 0.05%
OSH: -0.07%
The bourse was relatively active yesterday with KSi declining 5 points to close at 6,638.05; BSP settled 1.56 percent lower to K0.63 and CCP lost territory to end the day at K1.49 as LGL edged higher to finish the day at K8.79.
The pre-open phase of the market has offers for CPL and OSH at K2.95 and K13.38 respectively. Kina is buying 0.4356 and selling 0.3902 aussie.
MOVERS
Yesterday’s movers on the bourse 28/07/10;
BSP: -1.56%
CCP: -0.66%
LGL: 0.11%
NBO: 0.05%
OSH: -0.07%
Wednesday, July 28, 2010
POMSoX UPDATE
LOCAL STOCKS
KSi closed marginally higher by 0.02 percent to 6643 points. BSP declined 1.53 percent to end the day at K0.65; while NBO edged higher to finish up at K18.97 as OSH ended the day at K13.41 over light volumes.
This morning has offers for BSP at K0.64 and CCP sellers are at a low K1.49. Kina this morning is stronger, buying 0.4356 and selling 0.3902 aussie.
PNG NEWS
NGE: New Guinea Energy Ltd yesterday afternoon reported securing a $25,000,000 equity subscription facility with US Based Investment Fund YA Global Master SPV Ltd (YA Global)
OSH: Oil Search Ltd released its quarterly results highlighting a total oil and gas production for the second quarter of 2010 was 1.94 million barrels of oil equivalent (mmboe), only marginally lower than first quarter production and total operating revenue was US$142.7 million compared to a US$133 million last quarter.
MOVERS
Yesterday’s movers on the bourse 27/07/10;
BSP: -1.53%
NBO: 2.54%
OSH: -0.07%
KSi closed marginally higher by 0.02 percent to 6643 points. BSP declined 1.53 percent to end the day at K0.65; while NBO edged higher to finish up at K18.97 as OSH ended the day at K13.41 over light volumes.
This morning has offers for BSP at K0.64 and CCP sellers are at a low K1.49. Kina this morning is stronger, buying 0.4356 and selling 0.3902 aussie.
PNG NEWS
NGE: New Guinea Energy Ltd yesterday afternoon reported securing a $25,000,000 equity subscription facility with US Based Investment Fund YA Global Master SPV Ltd (YA Global)
OSH: Oil Search Ltd released its quarterly results highlighting a total oil and gas production for the second quarter of 2010 was 1.94 million barrels of oil equivalent (mmboe), only marginally lower than first quarter production and total operating revenue was US$142.7 million compared to a US$133 million last quarter.
MOVERS
Yesterday’s movers on the bourse 27/07/10;
BSP: -1.53%
NBO: 2.54%
OSH: -0.07%
Tuesday, July 27, 2010
POMSoX UPDATE
LOCAL STOCKS
The local market was quiet with light volumes crossing yesterday. BSP witnessed trades at K0.65; CCP ended the day steady at K1.50, the only mover was NBO falling 2.52 percent to close at K18.98 while on the LSE it finished at GBP4.82 down by 0.92 percent.
Bids for NBO are as high as K18.50 this morning while sellers for CCP shares are lined up at K1.50, no economic data was released to the market while on the corporate front, various mining companies released their Q2 activity reports.
In currency news, our kina has been stable for the past week averaging 0.4300, this morning it is buying 0.4333 and selling 0.3881 aussie as USD/PGK stands at 0.3909 today.
MOVERS
Yesterday’s movers on the local market 26/07/10;
NBO: -2.52%
The local market was quiet with light volumes crossing yesterday. BSP witnessed trades at K0.65; CCP ended the day steady at K1.50, the only mover was NBO falling 2.52 percent to close at K18.98 while on the LSE it finished at GBP4.82 down by 0.92 percent.
Bids for NBO are as high as K18.50 this morning while sellers for CCP shares are lined up at K1.50, no economic data was released to the market while on the corporate front, various mining companies released their Q2 activity reports.
In currency news, our kina has been stable for the past week averaging 0.4300, this morning it is buying 0.4333 and selling 0.3881 aussie as USD/PGK stands at 0.3909 today.
MOVERS
Yesterday’s movers on the local market 26/07/10;
NBO: -2.52%
Wednesday, July 21, 2010
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%
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%
Tuesday, July 20, 2010
NGE set to raise A$3 million
New Guinea Energy Ltd (NGE) is pleased to announce that it has reached agreement to raise $3million by way of private placement of 15,000,000 at $0.20 per share to Macquarie Bank Limited (MBL), a professional investor, in accordance with section 708 of the Corporations Act 2001(Act).
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%
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%
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