KSi Daily Market Report: Tuesday, 06 January 2015

Tuesday’s trading session on POMSOX was again quiet but at the close, the Kina Securities Indices were mixed. The Main index KSi slipped 46.84 points lower to 3,449.42 points while the Home index KSHi edged up 5.30 points to 9,549.93 points.

One stock fell compared to another stock that gained today.

Bank South Pacific Ltd (BSP) advanced 1 toea to end at K7.13 in trading volume of only 9,171 units.

On the downside, oil and gas stock Oil Search Ltd (OSH) transacted at K15.50, down by 50toea following downtrend impact from global renewed drop in oil prices.

Credit Corporation Ltd (CCP) was traded at K2.60 but ended flat.

Total shares registered were 13,773 units valued at K67,481.73.

In a late afternoon announcement, New Britain Palm Oil Ltd (NBO) says its takeover bidder, Sime Darby Plantation Sdn Bhd of Malaysia further extends the acquisition date to 20th March pending on the outcome by the EU Commission decision which could be delayed by any potential requests for additional information.

In U.S markets, New Year’s first full week started with a thud on Monday. The Dow Jones Industrial plummeted by 331.34 points or 1.86% to 17,501.65 points as oil slumped below $50 a barrel with brutal stock sell-off. The Nikkei tumbled with concerns over Europe on weak oil prices as it sliced 526 points or 3.02% to 16,883 points. In Australia, ASX shares experienced a volatile trading day following renewed fall in oil prices overnight. The S&P/ASX200 retreated 85.53 points or 1.57% to 5,364.80 points, while Aussie dollar edged above 0.81 US$.

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