KSi Daily Report: Monday, 9 December 2013

Kina Securities Stock indices opened the week unchanged amid modest trading on POMSOX. The main index or the KSi remained undisturbed at 3,872.79 points while the Kina Securities Home index, the KSHi, was stable at 8,215.70 points.

Four stocks traded today but all closed flat.

Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) both traded steady at K7.99 & K2.60 respectively. Meanwhile, the sole listed pharmaceutical stock, City Pharmacy Ltd (CPL) completed K1.95 flat followed by the junior cap miner, Marengo Mining Ltd (MMC) at 18 even.

The day’s trading registered a light volume of 40,195 shares at a value of K79,242.08.

U.S. stocks rallied on Friday after a stronger-than-anticipated monthly jobs report, with the Dow industrials snapping a five-session losing streak. The Dow gained 198.69 points, or 1.26%, to close at 16,020.20, achieving its biggest daily gain since mid-October and breached 16,000 point level. Likewise, Japan’s Nikkei climbed 350.35 points or 2.29% at 15,650.21 points Monday spurred by a slide in the yen after an upbeat U.S. jobs report raised expectations the Federal Reserve will soon begin removing its stimulus. Meanwhile, The Australian stock market closed weaker today after QBE Insurance Group plummeted on flagging a full-year loss due to goodwill write-downs in its North American business. The benchmark S&P/ASX200 index was 41.60 points or 0.8% lower at 5,144.40 points.

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