POMSoX stocks mostly gave up gains from yesterday ending Kina Securities stock indices in red on the last trading day of July. The main index KSi retreated 38.41 points or 1.01% at 3,758.65 points while home index KSHi slumped 667.12 points or 7.43 points to 8,317.13.
Three stocks lost with no stock that gained for Thursday’s session.
New Britain Palm Oil Ltd (NBO), one of the world’s largest fully integrated producers of sustainable palm oil, cutting off K3.50 at K18.00 due to large spread between bids and offers on the market. The loss weighed heavily on the indices despite the company’s announcement today of an unaudited interim revenue increase by 9.5% ($338m) for the last six months ended 30 June 2014 compared to 2013 1st half’s income results. Followed closely were two financial stocks Bank South pacific Ltd (BSP) and Kina Asset Management Ltd (KAM) as both respectively losing 13 toea at K7.22 and 2 toea at K1.07.
Stocks traded however remained unchanged were Credit Corporation Ltd (CCP) at K2.70 and Marengo Mining Ltd (MMC) at 9 toea.
Thursday’s session registered a significant volume of 124,134 shares with Kina value of K451,934.52.
In New York, the Dow Jones Industrial Average finished off session lows, but with a loss of 31.75 points, or 0.19% to 16,880.36 points despite slightly higher U.S. stocks finishing as the Federal Reserve appeared to calm fears that it might start raising interest rates sooner than expected. Japan’s Nikkei share average fell on Thursday in choppy trade, breaking a four-day winning streak on solid U.S. growth figures. The Nikkei ended 25.46 points or 0.1% lower at 15,620.77 points. The Australian S&P/ASX200 index is slightly higher at 5,632.90 points, was up 10 points or 0.18% Thursday after a flurry of mixed quarterly production data and weaker-than-expected building approval data.