KSi Daily Report: Tuesday, 08 September 2015

Kina Securities indices closed on a mixed note despite erratic jump on an oil producer amid modest trading session on POMSoX Tuesday. The Main index KSi advanced, up 150.90 points (+4.41%) at 3,573.58 points while the home index KSHi went down at 9,530.94 points, off 20.98 points (-0.22%)

One stock gained while another fell.

Dual-listed mining stock Oil Search Ltd (OSH) contributed to the positive index. ASX Woodside (ASX:WPL) announced earlier this morning on a non-binding indicative proposal of 5.2 billion pound to merge with OSH. The stock closed K1.50 higher to end at K16.00. On ASX, the dual-listed stock surged $1.17, or 17.4%, to close at $7.90, as investors anticipate an improving offer.

The supermarket-retailer stock City Pharmacy Ltd (CPL), slipped 8toea to close lower at K1.39.

Meanwhile other stocks traded unmoved were the financials, Bank South Pacific Ltd (BSP) at k7.40 and Credit Corporation Ltd (CCP) at K2.40 even.

Trading was average with a turnover of K223,267.74, comprising a total of 20,216 units of shares trading hands.

In New York, U.S stocks closed on the Labor holiday amid uncertainty over the Fed-led interest rates. Japan’s Nikkei Share Average followed, down 439.39 points or 2.43% to 17,427.08 points and remained volatile in late afternoon trading. Australian shares lifted more than 1.6 per cent despite mixed economic data. The S&P/ASX 200 benchmark index rose 84.78 points or 1.69% to 5,115.20 points.

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