Wednesday, May 29, 2013

News Bits | 29 May 2013


l  Results Note: BIMB, BIPORT, COASTAL, DLADY, IJM, IJMLAND, IJMPLNT, MAHSING, UEMLAND
l  On Our Technical Watch: FACBIND, KINSTEL
 
NEWS HIGHLIGHTS
l  SapuraKencana strengthens grip on tender rig business (Comment included in Kenanga Today)
l  Lion Corp reduces losses in Q3 to RM68.6m
l  Kinsteel suffers loss in 1Q on slower steel market
l  PJ Development Holdings profit up 51.0%
l  Ajinomoto 4Q profit falls 24.2%
l  Harrisons 1Q profit falls 19.0% on higher costs
l  Johor Corp to push ahead with Malton deal
FOREIGN NEWS HIGHLIGHTS
l  Apache explores Gulf of Mexico shelf stake sale
l  FNF to buy Lender Processing Services for USD2.9b
 
ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)
Malaysia
l  With Strong Investor Confidence Malaysia's FDI Up To RM18.3bil In Q1
Asia
l  China Profit Growth Quickens, No Harbinger Of Recovery
USA
l  Home Prices Accelerate By Most In Seven Years
l  Confidence At Five-Year High As U.S. Housing Climbs
Europe
l  French Consumer Confidence Falls Sharply
l  French Central Bank Chief Urges Spending Cuts
l  Greek Economy Optimism Seen In Yield-Curve Switch
Africa
l  South Africa Economic Growth Slows To 0.9%
Currencies
l  Dollar Snaps 3-Day Losing Streak Against Yen
Commodities
l  Oil Rises More Than $1 On Equities, Middle East Tension
l  Gold Down 1 Pct As Strong U.S. Data Dents Safe Havens