KSi Daily Report: Monday, 06 June 2016

Both Kina Securities indices opened the trading week on a mixed note as stocks headed in opposite directions during Monday’s POMSoX session. The Main index or KSi was up by 49.71 points (-1.11%) at 4,515.60 points while the home index or KSHi finished at 9,319.64 points, declining 26.24 points (0.28%).

One stock gained compared to an equal number of loss.

Oil Search Ltd (OSH), the oil and gas stock, collected 50toea to close back up at K17.00.

On the downside, City Pharmacy Ltd (CPL) closed lower by 10 toea to K1.19. The stock’s negative movement weighed on the home index.

Meanwhile, Bank South pacific Ltd (BSP) was traded unchanged at K7.75 flat.

The session registered a combined volume of 12,919 shares with a monetary volume of K101,135.70.

U.S stocks pared losses in overnight trading but still finished lower after the release of disappointing jobs data. The Dow Jones Industrial Average was 31.50 points or 0.18% lower to 17,807.06 points. Japan’s Nikkei stumbled to a near one-month low as the dollar fell sharply against the yen on disappointing U.S jobs data, weighing on exporter stocks. The Nikkei share average fell 62.20 points or 0.37% to 16,580.03 points. The Australian share market was firm, helped by a lift in mining and banking stocks. The benchmark S&P/ASX 200 index was up 41.5 points or 0.78% to 5,360.40 points.

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