KSi Daily Report: Thursday, 26 February 2015

Thursday’s trading on POMSOX was active as both Kina Indices gained grounds to end high. The main index KSi rose 70.66 points or 1.97% to 3,650.73 points and similarly the home index KSHi jumped 79.60 points or 0.82% to 9,798.62 points.

The session recorded two gains with nil stocks that lost.

The positive movement of the indices was attributed by PNG’s leading oil and gas stock Oil Search Ltd (OSH) adding 20toea to close at K17.00. Bank South Pacific Ltd (BSP) also high, up 15toea to end at K7.45.

Other stocks traded included junior cap miner Marengo Mining Ltd (MMC) and Credit Corporation Ltd (CCP) at 4toea and K2.60 flat respectively.

A substantial volume of 169,284 shares worth K98,491.98 were registered today.

U.S stocks rallied closing slightly higher after the release of housing data as The Dow Jones Industrial Average rose 15.38 points or 0.08% to 18,224.57 points. In Asian markets, share prices rose as the Nikkei share average surged 200.59 points or 1.08% to 18,785.79 points. Australian shares retreated from multi-year highs as weak economic data and mixed corporate earnings gave investors slight incentive to buy. The benchmark index S&P/ASX 200 ended 36.41 points lower or 0.61% to 5,908.49 points, just well below the flat line.

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