11 – 15 May 2026
Weekly Trade Commentary
- A quieter week — 6 stocks traded with total value of K2.48m, ~37% of the prior week’s K6.70m.
- BSP traded 60,651 shares closing up 40t at K27.90.
- KSL traded 79,892 shares steady at K4.35.
- STO traded just 92 shares up 10t to K22.20.
- CCP traded 80,432 shares steady at K4.66.
- CPL traded 54,508 shares closing up 14t at K0.79.
- PLC traded 23,770 shares up 7t to K1.15.
WEEKLY MARKET REPORT | 11 May, 2026 – 15 May, 2026
| STOCK | WEEKLY VOLUME | CLOSING PRICE | VALUE | CHANGE | % CHANGE |
|---|---|---|---|---|---|
| BSP | 60,651 | 27.90 | 1,692,019.30 | +0.40 | +1.45% |
| KSL | 79,892 | 4.35 | 345,961.65 | — | — |
| STO | 92 | 22.20 | 2,042.40 | +0.10 | +0.45% |
| CCP | 80,432 | 4.66 | 374,813.12 | — | — |
| CPL | 54,508 | 0.79 | 43,061.32 | +0.14 | +21.54% |
| PLC | 23,770 | 1.15 | 26,694.51 | +0.07 | +6.48% |
| 299,345 | TOTAL | 2,484,592.30 | +0.71% |
WEEKLY YIELD CHART | 11 May, 2026 – 15 May, 2026
| STOCK | ISSUED SHARES | MKT CAP (K) | INT 24 | FIN 24 | INT 25 | FIN 25 | YIELD % LTM |
|---|---|---|---|---|---|---|---|
| BSP | 467,317,665 | 13,038,162,854 | 0.450 | 1.210 | 0.500 | 1.380 | 6.74% |
| KSL | 294,332,296 | 1,280,345,488 | 0.106 | 0.155 | 0.126 | 0.193 | 7.33% |
| STO | 3,261,616,703 | 72,407,890,807 | 0.506 | 0.414 | 0.559 | 0.443 | 4.51% |
| NEM* | 1,097,000,000 | 537,530,000,000 | — | 2.110 | 2.110 | USD $0.260 | 0.86% |
| KAM | 53,259,588 | 111,845,135 | 0.200 | — | 0.250 | — | 11.90% |
| NGP | 45,890,700 | 61,952,445 | 0.040 | 0.120 | 0.040 | 0.190 | 17.04% |
| CCP | 307,931,332 | 1,434,960,007 | 0.120 | 0.121 | 0.121 | 0.130 | 5.39% |
| CPL | 206,277,911 | 162,959,550 | — | — | 0.050 | 0.040 | 13.85% |
| PLC | 858,075,186 | 986,786,464 | — | — | — | — | — |
| SST | 31,008,237 | 1,550,411,850 | 0.400 | 0.300 | 0.400 | 0.650 | 2.10% |
| TOTAL / WEIGHTED-AVG | 5.64% |
Key Market Announcements
- KAM – NTA as at 30 April 2026 Download >>
- NEM – Form 3 as filed — Erin Workman Download >>
- CPL – New Board Chair Download >>
- CPL – Dividend Declaration Download >>
- CPL – 2026 AGM Results & Director Notice (Dr Polash) Download >>
- PLC – Expiry of unexercised options & substantial-holder change Download >>
- PLC – Appendix 3Y — Pegum Download >>
- KAM – Change of Venue for AGM Download >>
- NGP – Notice of 2026 AGM & 2025 Annual Report Download >>
- NEM – Form 144 (Jennifer Cmil) & AGM Voting Results Download >>
BPNG TREASURY BILL AUCTION
Auction: 13-MAY-26 / GOI / Government Treasury Bill Settlement: 15-MAY-26 Amount on Offer: K287.0m (over-subscribed by K192.63m)
| TERMS | ISSUE / 63 | ISSUE / 91 | ISSUE / 182 | ISSUE / 273 | ISSUE / 364 | TOTAL |
|---|---|---|---|---|---|---|
| Weighted Avg Yield | — | — | 5.16% | 5.31% | 4.92% | — |
| Amount on Offer (K’m) | — | — | 10.00 | 60.00 | 217.00 | 287.00 |
| Bids Received (K’m) | — | — | 64.10 | 124.00 | 291.53 | 479.63 |
| Successful Bids (K’m) | — | — | 10.00 | 60.00 | 217.00 | 287.00 |
| Over / (Under) Subscribed (K’m) | — | — | +54.10 | +64.00 | +74.53 | +192.63 |
BPNG GOVERNMENT BOND AUCTION
MOST RECENT AUCTION — NO NEW ISSUANCE WEEK ENDING 15 MAY 2026
Auction: 21-MAR-26 / GOB / Government Bond Settlement: 24-MAR-26 Amount on Offer: K200.0m
| SERIES | AMOUNT ON OFFER (K’m) | BIDS RECEIVED (K’m) | SUCCESSFUL BIDS (K’m) | SUCCESSFUL YIELD | WEIGHTED AVG RATE | COUPON RATE | NET SUBSCRIPTION (K’m) |
|---|---|---|---|---|---|---|---|
| Issue ID 2026/5057 – 3 yr | 30.00 | 60.00 | 60.00 | 6.45-6.50% | 6.48% | 5.75% | +30.00 |
| Issue ID 2026/5058 – 5 yr | 40.00 | 42.00 | 42.00 | 6.73-6.80% | 6.76% | 6.00% | +2.00 |
| Issue ID 2026/5059 – 7 yr | 50.00 | 52.00 | 52.00 | 6.89-6.93% | 6.91% | 6.25% | +2.00 |
| Issue ID 2026/5060 – 10 yr | 50.00 | 82.00 | 67.00 | 7.07-7.20% | 7.11% | 6.50% | +32.00 |
| Issue ID 2026/5061 – 15 yr | 30.00 | 32.00 | 32.00 | 7.45-7.47% | 7.46% | 6.75% | +2.00 |
| TOTAL | 200.00 | 268.00 | 253.00 | +68.00 |
INVESTOR EDUCATION – Investment Funds
What are Investment Funds?
Investment funds are financial vehicles that pool money from multiple investors to collectively purchase a diversified portfolio of assets — stocks, bonds, real estate or alternatives. They are managed by professional asset managers, charging fees in exchange for diversification, professional oversight and economies of scale that individual investors couldn’t easily achieve alone.
Funds come in two broad camps. Public funds (mutual funds, ETFs, index funds, money-market funds) are accessible to retail investors and are typically liquid, priced daily, and regulated. Private funds (hedge funds, private equity, venture capital) are typically restricted to institutional or accredited investors, lock up capital for years, and charge significantly higher fees in pursuit of outsized or differentiated returns.
Public & Private Fund Types
- ETFs — Exchange-Traded Funds trade on stock exchanges like a share. Generally cheaper than mutual funds, tax-efficient, and easy to buy/sell intraday. The dominant retail vehicle of the past decade.
- Index Funds — Passively track a market index (e.g. S&P 500). Lowest cost, no active manager. Empirically the best long-term performer for most investors because fees stay minimal.
- Hedge Funds — Sophisticated strategies — leverage, shorting, derivatives — to target returns regardless of market direction. High fees (classic “2 and 20”). Restricted access.
- Private Equity & VC — PE buys controlling stakes in private companies; VC backs early-stage startups. 7–10-year horizons, illiquid, but with the potential for outsized returns.
What we’ve been reading
Same shock, different world: earnings downgrades emerge as oil bites
Monthly Bell — Bell Potter • Will Riggall, Chief Investment Officer
April was a month of two halves: an early relief rally had the ASX up +5.9% by 15 April before strain emerged at both the consumer and corporate level. Downgrades arrived first in businesses with direct cost exposure — Qantas (-15% EPS) and Cleanaway (-4% EBIT) on fuel — and then in housing-linked and discretionary names. The major banks adopted cautious outlooks; large diversified miners (BHP, RIO, FMG) masked broader weakness via firm iron-ore and gold prices.
With the May RBA meeting delivering a 25bps hike, Bell Potter expects the ASX to trade sideways until uncertainty clears. The silver lining is that several quality companies are now trading well below long-term intrinsic value — creating buying opportunities for patient capital.
JMP read: For PNG investors, the macro is familiar — oil, FX and policy uncertainty — but the read-through is constructive. Bell Potter’s pivot to resources (copper, near-term lithium) and supply-chain services aligns with the structural demand themes that benefit STO and the broader PNG energy complex.
Regards,
Benny Takin
Equities Trader — Primary contact, JMP Weekly Report
benny.takin@jmpmarkets.com
+675 7001 9121 / 320 0240
JMP Securities Limited
Level 3, ADF Haus, Musgrave Street
PO Box 2064, Port Moresby NCD, Papua New Guinea