Tuesday, April 23, 2013

News Bits | 23 April 2013


IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)
l  Initiating Coverage: CRESNDO
l  Results Note: AXREIT
l  Quick Bites: PPB, UEMLAND
l  On Our Radar: VITROX
l  On Our Technical Watch: BENALEC, PENERGY
 NEWS HIGHLIGHTS
l  BHIC secures RM515.0m jobs from Boustead Naval Shipyard
l  Tanco unit gets RM600.0m job in Port Dickson
l  ARREIT to buy factory in Penang
l  MAS agrees to RM8.4m settlement with NZ commission
l  KNM Process System faces winding-up petition
l  Bursa Securities uplifts Destini from PN17
l  Affin optimistic winning HwangDBS' bid
FOREIGN NEWS HIGHLIGHTS
l  ABB bets on solar power with USD1.0b takeover
l  Michelin quarterly sales drop as Europe recession widens
 ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)
Asia
l  Yudhoyono’s Selection For Finance Minister Rattles Market
USA
l  Existing Home Sales Fall As Prices Rise Most Since 2005
l  Data Shift To Lift Us Economy By 3%
Europe
l  Era Of Austerity Has Run Its Course, Eu Says
Currencies
l  Dollar Pulls Back From ¥100 On Weak Home Sales
Commodities
l  Brent Oil Rises Above $100/Bbl On Equity Gains
l  Bargain Hunters Lift Gold, Gains May Be Short-Lived