News Bits | 6 June 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)                                                                                        

l  On Our Radar: Tracker Review

l  On Our Technical Watch: PWROOT, PMETAL

 

NEWS HIGHLIGHTS

l  MAHB: Extensions granted but it says no justification for any further extensions, LAD to apply

l  CIMB targets 18% growth for current and savings account deposits

l  AirAsia squeezed at home by perky new budget carrier

l  EPF no longer MAS substantial shareholder

l  Petron Malaysia: Mirzan Mahathir doesn't have any shares, or role

l  Three bidders submit DTTB plans to MCMC

l  Lion buys shares in Parkson for RM19.2m

l  Michael Lai resigns from Packet One Networks

FOREIGN NEWS HIGHLIGHTS

l  Rio Tinto seeks final bids for copper mine in June

l  Boston Properties Puts NYC Times Square Tower Up for Sale

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia Pacific

l  Japan's Abe Targets Income Gains In Growth Strategy

l  Australia's Economic Growth Rate Misses Forecasts

USA

l  Services Gains Show Companies Confident In Outlook

l  Productivity In U.S. Rises As Companies Try To Lower Costs

l  ADP Says 135,000 New Private-Sector Jobs In May

l  Treasuries Climb As Drop In Global Equities Spurs Safety Demand

l  Fed’s Beige Book Shows ‘Modest To Moderate’ Growth In U.S

Europe

l  UK Services Sector In Fastest Growth Since March 2012

l  IMF Admits Mistakes On Greece Bailout

l  Poland Cuts Benchmark Interest Rate To Record Low 2.75%

l  Finnish Economy Enters Recession As Euro Slump Saps Output

Currencies

l  Dollar Falls For Second Day In Three After Data

Commodities

l  Brent Oil Ends Lower On U.S. Refinery Start-Up Report

l  Gold Gains After Private U.S. Jobs Growth Misses Forecast