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KSi Daily Report: Friday, 6 December 2013

Both Kina Securities stock indices gained territories amid a quiet session for the last trading day of the week. The main index, the KSi added 1.04 points, or 0.03% to 3,872.79, while the home index or the KSHi collected 18.07 points, or 0.22%, to finish at 8,215.70.

There was one gain versus no loss for Friday session.

Credit Corporation Ltd (CCP) gained 5 toea to finish at K2.60, aided by the company’s ongoing share buyback plan.

Meanwhile, Marengo Mining Ltd (MMC) was the only stock unchanged at 18 toea flat.

Friday’s trading session recorded a low volume of 5,866 units valued at K1,672.98.

InterOil (IOC) said today Total SA (FP), Europe’s third-biggest oil company, agreed to buy a stake in the company’s assets including 61.30% license of the Elk and Antelope gas fields in Papua New Guinea in a deal valued at as much as $3.6 billion as part of a plan to build a liquefied natural gas project.

U.S. stocks dropped in overnight session, slapping the Dow Jones Industrial Average with their fifth straight down day, as better-than-expected readings on employment and economic growth boosted bets that a stimulus reduction could come this month. The DJIA weakened by 68.26 points (-0.43%) at 15,821.51 points. Meanwhile, stability in the yen allowed Japanese stocks to move higher at the end of a bad week for the Nikkei Average, raising 130.61 points (+0.86%)on 15,308.10 points. In Australia, the share market has closed lower, with the year’s biggest listing, Nine Entertainment, among the shares losing ground, at the close on Friday, the benchmark S&P/ASX200 index was 12.0 points, or 0.23 per cent, lower at 5,186.00 points.

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