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KSi Daily Report: Wednesday, 03 December 2014

POMSOX trading settled quiet amid moderate volume with both Kina Securities Indices ending up unchanged. The Main index KSi was steady at 3,605.31 points while the Home index KSHi remained at 9,897.93 points.

All stocks traded today were unchanged.

A junior exploration stock Marengo Mining Ltd (MMC) ended flat at 6toea. Financial Bank South Pacific Ltd (BSP) registered some trades at K7.19. Meanwhile, portfolio management stock Kina Asset Management Ltd (KAM) and Oil Search Ltd (OSH) closed at K1.03 and K17.00 flat respectively.

Total shares registered were 34,290 units valued at K43,291.33.

New Britain Palm Oil Ltd (NBO) says Sime Darby, the Malaysia plantation bidder for the entire NBO shares it does not already own, will extend the Offer period for the company takeover which is scheduled to end on end of December. The new closing offer date may be landed on the middle of January. The stock was not traded today.

U.S stocks rose in overnight trading as investors welcomed stronger-than-expected construction spending figures. The Dow Jones Industrial Average closed at another peak record, up by 102.75 points or 0.58% to 17,879.55 points. Japan’s Nikkei share average rose following the Wall Street gain as Index added 62 points or 0.35% 17,725 points. Australian shares also rose with positive results from majority of sectors with big gains especially from healthcare and big banks. The benchmark S&P/ASX200 index rose 40.56 points or 0.77% to 5,321.82 points today.

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