KSi Daily Report: Monday, 28 August 2017

POMSOX trading opened the week on a positive note with the Kina Securities main index or the KSi closing higher by 1.65 points or 0.03% at 4,984.76 points. Similarly, the Home Index or KSHi was up 49.25 points or 0.45% at 11,051.00 points.

Only one stock gained with no other movements.

Bank South pacific Ltd (BSP) helped lift the indices as the stock gained 5 toea to K9.60. The company has announced the half year results and has archived a consolidated operating profit after tax of K370.9 million for the 2017 half year, a 23% increase on the consolidated 2016 operating profit after tax of K301.4 million for the comparative period and has declared an interim dividend of 32 toea per share to be payable in 20th October. (Ex-date: 4th October).

Meanwhile, Oil Search Ltd (OSH) closed flat at K17.00.

The day’s trading recorded a total of 14,867 units with a monetary value of K175,660.60.
US. stocks closed higher on Friday with the main indexes posting solid weekly gains after neither Federal Reserve nor European Central Bank offered clues about future monetary policy moves in a pair of speeches at a central banker retreat in Wyoming. The Dow Jones Industrial Average closed up 30.27 points, or 0.14%, at 21,813.67 points and posted a 0.6% weekly gain, after two weeks of declines. However, Japan’s Nikkei share average edged lower on Monday, as investors assessed the impact of a weaker dollar following a central bank conference in Wyoming. The Nikkei was down 2.71 points or 0.01% at 19,449.90 points at close of trading. Likewise, The ASX ends on a weak note as the big banks weigh on the market in the final days of earnings season, while Qantas shares lose some of their altitude on a broker downgrade. The S&P/ASX 200 was down 34 points or 0.59% at 5,709.90 points.

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