KSi Daily Report: Wednesday, 17 June 2015

Wednesday’s trading session was modest with the Kina Securities Indices heading in the positive direction. The Kina Securities main index or KSi added 0.08 points to 3,554.02 points and similarly the Home Index KSHi rose 2.63 points or 0.03% to 9,721.63 points.

There was one winning stock compared to none that fell.

Pharmaceutical stock City Pharmacy Ltd (CPL) contributed to the positive movement of the indices, advancing 1toea to close at K1.48.

Meanwhile other stocks trading unchanged were financials Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CPL) ending at K7.40 and K2.50 respectively. Mining exploration company Marengo Mining Ltd (MMC) was steady at 3toea flat.

The total trade recorded today was 126,087 units valued at K142,962.10.

U.S stocks ended Tuesday higher as investors shrugged off worries about unsuccessful Greek debt talks, rebounding from two days of losses awaiting the outcome of the Fed’s policy meeting. The Dow Jones Industrial Average rose 113.31 points or 0.64% to 17,904.48 points. The Nikkei share average dipped 38.67 points or 0.19% to 20,219.27 points as Japanese stocks slipped to a one-week low in choppy trade on Wednesday ahead of Fed’s meeting. Australian shares bounced back after strong growths in the big banks. The benchmark index S&P/ASX 200 rose 59.61 points or 1.08% to 5,595.40 points.

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