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KSi Daily Update; Thursday, 31 October 2013

Both Kina Securities Indices gave up their gains from yesterday after POMSOX ended in thin trading. The main index, KSi , slipped 2.08 points to 3,899.27 while the home index or the KSHi was down 36.15 points or 0.44% at 8,189.95.

There was one stock that fell today. Credit Corporation Ltd (CCP) ended lower at K2.50. shedding 10 toea.

Marengo Mining Ltd (MMC) a junior cap mining company ended flat at 20 toea, as the company reported it had spent about US$5.5 million this year on the exploration project. City Pharmacy Ltd (CPL) was unchanged at K1.90. Meanwhile Bank South Pacific Ltd (BSP) remained at K8.02 with Oil Search Ltd (OSH) ending at K16.08 even.

Total volume registered was 22,470 units at a value of K18,229.78.

The Dow Average, DJIA, fell 61.59 points or 0.4% to 15,618.76 points after the Fed Reserve released its latest policy directive, which was little changed from prior statements. The U. S. markets were broadly weakened on profits-taking after recent advances. The Nikkei index also fell, retreating 174.41 points or 1.20% at 14,327.90 despite the central bank’s revision of its economic growth forecast for the 2014 fiscal year to 1.5 percent. Hong Kong lost 0.30%. The Australian Market closed slightly lower amidst less-than-favorable US economic growth rates. The S&P/ASX200 was flat at 5,425.50 points, down 0.10% Thursday.

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