KSi Daily Report: Monday, 20 June 2016

POMSoX stocks opened the week on a negative note, as the main index, the KSi finished at 4,573.93 points, down by 104.13 points or 2.23%. Meanwhile, the home index, the KSHi remained unchanged at 9,579.23 points.

There were two losses against none that gained for Monday’s trading session.

Dual listed stocks, Oil Search Limited (OSH), gave away K1.00 to K16.00 at the close followed by Highlands Pacific Ltd (HIG) at 15 toea down by 5toea. Both declines weighed on the main index.

Meanwhile, Bank South Pacific Ltd (BSP) was only stock traded however remained unchanged at K8.00.

Monday’s trade registered a combined volume of 6,709 shares worth K48,977.40.

In overseas news, U.S stocks closed down Friday, finishing out the week lower, as investors continued to fret over lingering concerns about the Federal Reserve’s reluctance to raise interest rates. The Dow Jones Industrial Average slipped 58.07 points, or 0.3%, to close at 17,675.03 points. Japan’s Nikkei soared to a one-week high on Monday, posting the biggest daily gain in two months as Brexit worries receded somewhat after weekend polls showed the campaign to keep Britain in the European Union regaining momentum. The safe-haven yen weakened on the uptick in risk appetite and helped lift the Nikkei share average 531.16 points 3.44 % to 15,965.30, the highest closing level since June 13. The index posted the biggest daily percentage gain since April 21. In Australia, Gains by the major banks, energy stocks and big miners have helped push the share market well over one per cent higher as the oil price lifted and investors considered an improved likelihood of Britain staying in the European Union. At close of market today, the benchmark S&P/ASX 200 index was up 94.10 points, or 1.82% at 5,256.80 points.

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