KSi Daily Report: Friday, 13 March 2015

POMSOX trading was modest Friday with both Kina Securities indices stayed unchanged. The main index KSi remained at 3,648.69 points while the Home Index KSHi was steady at 9,744.14 points.

Junior exploration stock Marengo Mining Ltd (MMC) led the unchanged stocks at 4 toea followed by the financials, Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) flat at K7.35 and K2.60 respectively. City Pharmacy Ltd (CPL) also closed unmoved at K1.39 while Oil Search Ltd (OSH) at K17.01 and Newcrest Mining Ltd (NCM) at K25.00 even.

Friday’s trading session recorded a total of 128,622 units with a monetary value of K101,136.71.

U.S. stocks recorded the biggest gain in more than a month as expectations for a rate hike were pushed back following disappointing data on retail sales. The Dow Jones Industrial Average jumped 259.83 points, or 1.5%, to 17,895.22 points with 26 of its 30 members ending in positive territory, this was the strongest daily raise since Feb. 3. Likewise, Japanese shares extended gains on Friday as industrial robot maker Fanuc jumped more than 10% on a report that it will consider raising its dividend and buying back stock. The Nikkei share average rose 263.14 points or 1.39% to 19,254.25 points by close of market. However, The Australian share market has been dragged lower today by the big banks and miners with the benchmark S&P/ASX200 index down 35.70 points, or 0.61% at 5,814.50 points.

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