News Bits | 28 June 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Sector Update: Plantation

l  Results Note: HELP, GAMUDA, SPSETIA, UMCCA

l  Quick Bites: MUHIBAH, SKPETRO

l  On Our Technical Watch: PUNCAK

 

NEWS HIGHLIGHTS

l  Encorp bags RM69.0m contract

l  Pestech, ABB in switchgears tie-up

l  Letter of award for PJBumi

l  Selangor Properties 2Q profit falls 39.5% yoy

l  Goldis Q1 profit advances 56%

l  BCorp full-year profit falls to RM596.0m on higher revenue

l  Karex: Listing plan safe, set for H2

FOREIGN NEWS HIGHLIGHTS

l  Adobe to buy digital marketing software company for USD600.0m

l  Malone said to explore scenarios for Time Warner Cable deal

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  China Industrial Profits Jump in May, Beat Forecast

l  India’s Current Account Deficit Narrows; Rupee Rebounds

l  Vietnam Economic Growth Quickens As Investment Aids Exports

USA

l  Federal Reserve Officials Clarify 'Tapering'

l  Fed Officials Step Up Campaign To Stem Increase In Rates

l  Consumer Spending In U.S. Rebounds As Incomes Increase

l  Jobless Claims In U.S. Declined 9,000 Last Week To 346,000

Europe

l  EU Reaches Political Deal On Seven-Year Budget

l  European Economic Confidence Improves More Than Forecast

l  French Consumer Confidence at All-Time Low, Outlook Bleak

l  UK Double-Dip Recession Revised Away

l  U.K. Plans To Sell $23 Billion State Assets To Cut Debt

l  Russia Scales Down Asset Sales As Medvedev Bemonas Delays

Currencies

l  Dollar Could Extend Longest Win Streak In A Year

Commodities

l  UK Shale Gas Resources 'Greater Than Thought'

l  Oil Rises Amid Talk Fed Will Continue Stimulus For Now

l  Gold Sinks Below $1,200 For First Time In Nearly 3 Years