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KSi Daily Report: Wednesday, 09 July 2014

Kina Securities stock indices gave up yesterday’s gains after some key stocks declined on POMSoX trading Wednesday. The main Index KSi withdrew 9.07 points or 0.24% at 3,728.78 points and similarly the Home index KSHi slumped 94.42 points or 1.19% to 7,863.74 points.

Two stocks gained against an equal number of losses.

Winner for the session were City Pharmacy Ltd (CPL) and Marengo Mining Ltd (MMC) as both collected a toea each at K1.80 and 11 toea respectively.

Bank South Pacific Ltd (CCP) caused the negative impact on the indices, finishing 18 toea off yesterday’s close as the financial stock ended at K7.22 amid a low trading volume. Oil Search Ltd (OSH) followed path, falling 5 toea to K19.10..

Stocks that traded unchanged for the day were led by New Britain Palm Oil Ltd (NBO)which maintained yesterday’s gain at K15.30. Newcrest Mining Ltd (NCM) and Credit Corporation Ltd (CCP) closed at K25.00 and K2.70 even respectively.

Today’s session recorded total of 77,606 shares valued at K89,090.73

US stocks closed lower in overnight trading with investors unloading stocks for a second straight day ahead of corporate earnings reporting. The Dow Jones Industrial Average dropped 117.59 points, or 0.7% 16,906.62, points. Japan’s Nikkei share average fell 11.76 points or 0.08% to 15,302.65 points on Wednesday on retreating U.S. stocks and the stronger yen upset exporters. Likewise, Australian stocks are traded lower today following weakness in international markets. The benchmark S&P/ASX200 index lost 58.40 points, or 1.06% to 5,452.50 points.

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