FRIDAY 25th JUNE 2009
LOCAL STOCKS
Most of the trading companies closed unchanged yesterday while NBO surged up to close at K20.00; Offers for LGL maintained at K6.40. Overseas last night saw IOC move up nearly 3 percent to US$26.12 as BSP continued to perform steadily at K0.79.
PNG NEWS
Credit Corporation announced to their shareholders at their Annual General Meeting yesterday that they would be paying a dividend of 5 toea to their shareholders which would be made payable in August. Chairman, Garth Mcilwain reassured investors that the company had done very well in 2008 despite the world economic crisis on the back of a well capitalized Banking and Finance industry in PNG which Credit Corp was part of. He stressed that the Board and Management would be taking a conservative approach in 2009 so as to see that Credit Corp would maintain a liquid and sound financial position moving in to 2010 in order to capitalize on many of the financing opportunities of the upcoming PNG LNG project.
In other news, Bank South Pacific has made a non-binding and conditional offer to acquire the banking and insurance business of the Commonwealth Bank of Australia in Fiji. The offer is now subject to due diligence.
MOVERS
Thursday’s movers on the exchange 25/06/09:
BSP: 2.59%
NBO: 11.11%
CCP: -0.51%
Friday, June 26, 2009
Thursday, June 25, 2009
POMSoX Update
THURSDAY 24th JUNE 2009
LOCAL STOCKS
The bourse closed active yesterday with LGL slipping by 0.54% to close at K6.40 . Oil Search continued to maintain its position at K11.60 regardless of the 1.2% fall in the world market oil price yesterday. New Britain Palm Oil also slid by 0.27% to close lower at K18.00.
The opening phase of the market this morning has offers for BSP at K0.79 while offers are available for CPL at K2.47. In Currency news today PGK is buying AUSD at a rate of 0.4913 and selling at 0.4447.
PNG NEWS
Papua New Guinean credit giant Credit Corporation will be having their Annual General Meeting today at 11:00am to discuss with shareholders the performance of the company in the past year.
The PNG investment community was saddened to learn of the tragic passing away of the CPL group of companies board chairman Allan Jarvis over the weekend. Mr. Jarvis contributed immensely to the growth and success of the company in the recent years. His leadership will be sorely missed by the CPL group.
MOVERS
Wednesday’s movers on the exchange 24/06/09:
LGL: -8.24%
NBO: -0.27%
OSH: 3.56%
MGO: 3.84%
LOCAL STOCKS
The bourse closed active yesterday with LGL slipping by 0.54% to close at K6.40 . Oil Search continued to maintain its position at K11.60 regardless of the 1.2% fall in the world market oil price yesterday. New Britain Palm Oil also slid by 0.27% to close lower at K18.00.
The opening phase of the market this morning has offers for BSP at K0.79 while offers are available for CPL at K2.47. In Currency news today PGK is buying AUSD at a rate of 0.4913 and selling at 0.4447.
PNG NEWS
Papua New Guinean credit giant Credit Corporation will be having their Annual General Meeting today at 11:00am to discuss with shareholders the performance of the company in the past year.
The PNG investment community was saddened to learn of the tragic passing away of the CPL group of companies board chairman Allan Jarvis over the weekend. Mr. Jarvis contributed immensely to the growth and success of the company in the recent years. His leadership will be sorely missed by the CPL group.
MOVERS
Wednesday’s movers on the exchange 24/06/09:
LGL: -8.24%
NBO: -0.27%
OSH: 3.56%
MGO: 3.84%
POMSoX Update
WEDNESDAY 24th JUNE 2009
LOCAL STOCKS
Activity picked up on the local bourse yesterday as bidders for BSP queued in at K0.74 and closed the day at K0.78. Oil search went on to reaffirm its reputation as a volatile stock by closing lower at K11.60 after a brief stint at K12.40 the previous day. Airlines PNG also lost 2.77% to settle at K0.70 yesterday. On the latter, New Britain Palm Oil gained 0.16% to close higher at K18.05. The listing of BSP Notes saw its market placing bidders for the new security at K24,500.00 and sellers K26,000.00.
PNG NEWS
The KSi dropped by 252.82 points or 4.64% to 5,200.58. This was mostly due to the lead markets and commodity prices closing weaker yesterday on the back of economic forecasts by the world bank that the world recession is far from over.
MOVERS
Movers for Tuesday 23/06/09:
OSH: -13.10%
CGA: -2.77%
NBO: 0.16%
LOCAL STOCKS
Activity picked up on the local bourse yesterday as bidders for BSP queued in at K0.74 and closed the day at K0.78. Oil search went on to reaffirm its reputation as a volatile stock by closing lower at K11.60 after a brief stint at K12.40 the previous day. Airlines PNG also lost 2.77% to settle at K0.70 yesterday. On the latter, New Britain Palm Oil gained 0.16% to close higher at K18.05. The listing of BSP Notes saw its market placing bidders for the new security at K24,500.00 and sellers K26,000.00.
PNG NEWS
The KSi dropped by 252.82 points or 4.64% to 5,200.58. This was mostly due to the lead markets and commodity prices closing weaker yesterday on the back of economic forecasts by the world bank that the world recession is far from over.
MOVERS
Movers for Tuesday 23/06/09:
OSH: -13.10%
CGA: -2.77%
NBO: 0.16%
Tuesday, June 23, 2009
POMSoX Update
TUESDAY 23rd JUNE 2009
LOCAL STOCKS
Trading on the local bourse was relatively slow on Monday seeing most of the securities closing unchanged. BSP continued to maintain at K0.78;
PNG NEWS
The ExxonMobil-led Papua New Guinea liquefied natural gas (PNG LNG) joint venture is set to finalise sales deals for all remaining production from the $US12.5 billion ($A15.6 billion) project that was not covered by a maiden deal in April.
Oil Search managing director Peter Botten said it was "a major achievement", underscoring the project's likelihood of delivering first gas in 2013/14 and building momentum for a final investment decision (FID) in late 2009.
MOVERS
There weren’t any major movers for Monday. 22/06/09:
LOCAL STOCKS
Trading on the local bourse was relatively slow on Monday seeing most of the securities closing unchanged. BSP continued to maintain at K0.78;
PNG NEWS
The ExxonMobil-led Papua New Guinea liquefied natural gas (PNG LNG) joint venture is set to finalise sales deals for all remaining production from the $US12.5 billion ($A15.6 billion) project that was not covered by a maiden deal in April.
Oil Search managing director Peter Botten said it was "a major achievement", underscoring the project's likelihood of delivering first gas in 2013/14 and building momentum for a final investment decision (FID) in late 2009.
MOVERS
There weren’t any major movers for Monday. 22/06/09:
Monday, June 22, 2009
POMSoX UPDATE
LOCAL STOCKS
The local bourse closed steady on Friday seeing BSP maintain at K0.78.OSH rebounded from a weaker performance the previous day to close stronger at 11.71 percent & end the day at K12.40.
PNG NEWS
Chrome Corp Ltd - Perth-based mining company Chrome Corporation has struck a deal to acquire PNG gold explorer Pacific Niugini Minerals Ltd (PNM).
The deal, which is subject to due diligence and the approval of Chrome shareholders, will transform Chrome into a substantial gold company with almost 4,000 sqkm of highly prospective acreage in PNG’s Morobe, Western Highlands and Madang Provinces.
MOVERS
Friday’s movers on the local market 19/06/09:
CPL: 0.81%
LGL: 0.25%
OSH: 11.71%
The local bourse closed steady on Friday seeing BSP maintain at K0.78.OSH rebounded from a weaker performance the previous day to close stronger at 11.71 percent & end the day at K12.40.
PNG NEWS
Chrome Corp Ltd - Perth-based mining company Chrome Corporation has struck a deal to acquire PNG gold explorer Pacific Niugini Minerals Ltd (PNM).
The deal, which is subject to due diligence and the approval of Chrome shareholders, will transform Chrome into a substantial gold company with almost 4,000 sqkm of highly prospective acreage in PNG’s Morobe, Western Highlands and Madang Provinces.
MOVERS
Friday’s movers on the local market 19/06/09:
CPL: 0.81%
LGL: 0.25%
OSH: 11.71%
Friday, June 19, 2009
POMSoX UPDATE
LOCAL STOCKS
The local bourse yesterday had gained 2.63 percent to end at K0.78, while OSH dropped 11.7 percent to close the day at K11.20; while others finished unchanged. Overseas last night saw IOC ended weaker US$31.78 likewise NBPO on the LSE finished at GBP3.89.
The local index continues to maintain levels above 5, 000 points despite the price fluctuations for the commodities The pre open phase of the market today has offers for CCP at a low K1.95 while bids are as high as K18.00 for NBO. Our Kina is buying 0.4851 and selling at 0.4391 Aussie this morning.
PNG NEWS
STO - Santos's proposed Gladstone liquefied natural gas project has leapt forward with a first sales deal believed to be worth at least $US17 billion ($A21.45 billion).
MOVERS
Yesterday’s movers on the local market 18/06/09:
BSP: 2.63%
OSH: -11.69%
The local bourse yesterday had gained 2.63 percent to end at K0.78, while OSH dropped 11.7 percent to close the day at K11.20; while others finished unchanged. Overseas last night saw IOC ended weaker US$31.78 likewise NBPO on the LSE finished at GBP3.89.
The local index continues to maintain levels above 5, 000 points despite the price fluctuations for the commodities The pre open phase of the market today has offers for CCP at a low K1.95 while bids are as high as K18.00 for NBO. Our Kina is buying 0.4851 and selling at 0.4391 Aussie this morning.
PNG NEWS
STO - Santos's proposed Gladstone liquefied natural gas project has leapt forward with a first sales deal believed to be worth at least $US17 billion ($A21.45 billion).
MOVERS
Yesterday’s movers on the local market 18/06/09:
BSP: 2.63%
OSH: -11.69%
Thursday, June 18, 2009
POMSoX UPDATE
LOCAL STOCKS
The bourse closed active yesterday with CPL advancing 2 percent so did LGL surging 8 percent on the back of positive news that the company is within its forecasts to produce 1.2 million ounces this year. OSH jumped13 percent ending K12.57 despite the fall in Oil prices.
The opening phase of the market this morning had trades go through for BSP at K0.77 while offers are available for CPL at K2.47. In Currency news today PGK is buying at a rate of 0.4883 while selling at 0.4420.
MOVERS
Wednesday’s movers on the exchange 17/06/09:
BSP: -2.56%
CPL: 2.08%
LGL: 8.62%
NBO: 0.05%
OSH: 13.24%
The bourse closed active yesterday with CPL advancing 2 percent so did LGL surging 8 percent on the back of positive news that the company is within its forecasts to produce 1.2 million ounces this year. OSH jumped13 percent ending K12.57 despite the fall in Oil prices.
The opening phase of the market this morning had trades go through for BSP at K0.77 while offers are available for CPL at K2.47. In Currency news today PGK is buying at a rate of 0.4883 while selling at 0.4420.
MOVERS
Wednesday’s movers on the exchange 17/06/09:
BSP: -2.56%
CPL: 2.08%
LGL: 8.62%
NBO: 0.05%
OSH: 13.24%
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