KSi Daily Report: Monday, 07 July 2014

Kina Securities indices closed mixed as stocks headed in opposite direction amid active trading on POMSoX Monday. The Main index KSi was down by 30.92 points (-0.82%) at 3,734.93 points while the home index KSHi finished at 7,907.30 points, up 9.85 points (0.12%).

One stock won against four stocks that fell today.

The home index was lifted by Credit Corporation Ltd (CCP) as the sole wining stock collected 5 toea to close K2.70.

Stocks that headed in the negative were led by New Britain Palm Oil Ltd (NBO) which was down by 4 toea to K15., followed by Kina Petroleum Ltd (KPL) at 90 toea (-10 toea) and City Pharmacy (CPL), the pharmaceutical supermarket retailer in PNG, K1.78, -1 toea. Oil Search Ltd (OSH) declined retreated 35 toea at K19.15.

Bank South Pacific Ltd (BSP) was unchanged maintaining its steady price at K7.40, and Newcrest Mining Ltd (NCM) ended flat at K25.00.

Monday’s trading session recorded a moderate volume of 62,275 shares worth a kina value of K401,196.25.

In overseas news, U.S stocks ended mostly higher on Friday in thinly traded session ahead of the U.S Independence Day holiday. The Dow Jones Industrial Average gained 92.02 points or 0.54% to end at 17,068.26 points. Asian stocks rose, strengthened by upbeat employment report in the U.S jobs but Japan’s Nikkei share average slipped 58 points or 0.37% to close at 15,379 points. The Australian share market ended lower today as the benchmark index S&P/ASX 200 fell 6.08 points or 0.11% to end at 5,518.90.

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