KSi Daily Report: Thursday, 11 June 2015

Both Kina Securities stock indices were in the positive territory Thursday following announcement of BSP to increase its share buyback price to K7.50 from K7.40. The Kina Securities main index, the KSi boosted slightly at the close, up 1.25 points, or 0.04% to 3,556.24 points. Similarly, the home index, the KSHi, advanced 39.40 points, or 0.40% to 9,791.72 points,

POMSoX registered one gain in trading against no lose today.

The sole gain was attributable to Bank South Pacific Ltd (BSP), the banking and finance company which closed at K7.44, up 4toea. The company has increased its share buyback at K7.50 from K7.40, up 10 toea.

Other stocks remained unchanged after the session were Credit Corporation Ltd (CCP) at K2.55 even and City Pharmacy Ltd (CPL) at K1.47 unmoved. Oil Search Ltd (OSH) was flat at K16.00 with an intraday high at K16.50 despite improving ASX price at $7.76, up 33 cents from previous close.
Thursday’s session recorded a total of 11,779 units with a combined value of K92,909.37
Overseas, U.S. stocks rallied in overnight session, with Dow industrials posting their biggest one-day gains in more than a month. Analysts attributed to a weaker dollar and fresh hopes that Greece’s creditors will release more bailout cash. The Dow Jones Industrial Average jumped 236.36 points, or 1.3%, to 18,000.40. The Nikkei share average snapped its four-day losing streak, rising 336.61 points or 1.68% to 20,382.97 points as Japanese stocks bounced back on hopes that the European market for Japanese exports will improve and Greece’s credit rescue. Likewise, Australia’s S&P/ASX 200 index was up 71.30 points, or 1.30% at 5,549.90 points after a surprise fall in unemployment has added momentum to the rally.

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