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KSi Daily Report: Tuesday, 18 March 2014

The Kina Securities stock indices were mixed by Tuesday’s close after two major POMSoX stocks ended in opposite direction. The Kina Securities Main Index or the KSi gave up yesterday’s gains by 33.55 points (-0.92%) to 3,619.21 points. However, the Home Index or KSHi collected 26.62 points or 0.73% to 8,060.74 points.

There was one loss recorded against a single gain today.

Bank South Pacific Ltd (BSP) picked up 5 toea to close strong at K7.80

On the down side, Oil Search Ltd (OSH) traded 40 toea lower closing at K17.60.

Meanwhile, Credit Corporation Ltd (CCP) had traded at K2.70 flat followed by Marengo Mining Ltd (MMC) that remained 15 toea even.

In markets abroad, U.S stocks finished with strong gains as investors shrugged off narrow scope of EU and US sanctions and focused on better-than-expected economic data. The Dow Jones Industrial Average climbed 181.55 points, 1.13% closing the market at 16,247.22 points. Asian stocks rebounded with regional index rising from a five-week low. Japan’s Nikkei share average closed higher by 163 points, 1.14% ending at 14,441 points. Australia’s S&P/ASX 200 surged after declining two days as the index 200 closed at 181.55 points or 1.13% higher at 5,344.60 points at the close today.

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