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KSi Daily Report: Friday, 12 September 2014

Kina Securities main Index added some gains amid moderate trading on POMSoX on Friday. The KSi moved 6.02 points or 0.16% to 3,746.79 points. Meanwhile the Home Index KSHi remained unchanged at 8,065.08 points.

Two out of four stocks gained compared to none that lost for the day.

Junior cap mining exploration stock Marengo Mining Ltd (MMC) closed a toea higher at 8 toea. Oil Search Ltd (OSH) traded at K19.21, up by 6 toea.

Stocks traded however remained unchanged for the day were led by financial stocks Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) at K7.20 and K2.60 respectively. Credit Corp says half-year consolidated net profit after investment revaluation was down 31% to K28.68m ending June.

Friday’s trading session recorded a total of 90,340 units valued at K26,669.75 points.

U.S stocks declined in overnight trading on a flat note as investors assessed the U.S rates before the Federal Reserve meets next week. The Dow Jones Industrial Average slipped 19.71 points or 0.12% to end at 17,049 points. Asian stocks were mixed with the Nikkei Average gaining 39 points to end at 15,948 on continuous strength of U. S. dollar. In Australia, majority stocks retreated with financials weak and miners extended losses from [previous session. The benchmark S&P/ASX 200 lost 26.52 points or 0.48% to 5,519.60 points.

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