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KSi Daily Report: Thursday, 27 February 2014

On Thursday, POMSoX’s close saw both Kina Securities Indices moved into positive territory as the main index the KSi edged 1.04 points or 0.03%, recovering its previous loss to 3,613.98 points. The Kina Securities Home index or the KSHi likewise collected 18.08 points (+0.50%) to end at 8,076.41 points.

Only one stock gained today but with no loss during the session.

Credit Corporation Ltd (CCP) contributed to the indices as the stock climbed 5 toea to K2.60 trading a total of 525,664 units worth K1,366,726.40.

Stocks unchanged for the day were led by the Pharmaceutical stock , City Pharmacy Ltd (CPL) in terms of trading value. Closed at K1.95 unchanged, the stock traded a total of 100,000 shares. Bank South Pacific Ltd (BSP) stayed at K7.90.

The day’s session registered a substantial volume of 625,790 shares at a value of K1,562,721.80.

Oil Search Ltd (OSH) says it will lift suspension of trading in the securities by tomorrow following Company’s announcement. PNG’s largest oil & gas producer has announced today that the company has purchased 23 pct stake in PNG gas fields for $900 million and declared 2013 Net Profit After Tax was up 17% to USD206 million with both Revenue & Production up by 6%. In other announcement, New Britain Palm Oil (NBO) reports Profit Before Tax of USD$17.3 million down 79% compared to last year, while total revenue fell 17.5% and earnings down 79%.

U.S. stocks finished in an overnight choppy trading session marginally higher, having pared most of the gains after a better than expected report on new home sales. The Dow Jones Industrial Average ended the session 18.75 points, or 0.1%, higher at 16,198.41 points , with nearly two thirds of its components ending higher. Japan’s Nikkei average extended losses into a second day on Thursday, as the weakening of the yen took a pause and as heightened tensions in Ukraine soured sentiment. The Nikkei stock average dropped 47.86 points or 0.32% to 14,923.11 points. Likewise the Australian sharemarket has closed lower after disappointing business investment figures suggested the non-mining recovery may be weaker than expected. The benchmark S&P/ASX200 index shed 25.60 points or 0.47% lower at 5,411.40 by close of market today.

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