News Bits | 11 July 2013

IDEAS OF THE DAY

l  IPO Note: RANHILL

l  Sector Update: Plantation

l  Quick Bites: BENALEC, PANTECH

l  On Our Radar: MYEG

l  On Our Technical Watch: KEURO, WINGTM

 

NEWS HIGHLIGHTS

l  TNB inks RM1.0b Kuwaiti contract

l  UMW oil and gas unit gets green light for listing by Q4

l  EA bags RM59.0m government contract

l  Sumatec scouts for new oilfields

l  AirAsia X Plans to add flight frequencies to Japan on existing routes

l  Magnum to sell stake in U Mobile

l  Perwaja in talks to secure loan

FOREIGN NEWS HIGHLIGHTS       

l  UK to list Royal Mail, woos workers with free shares

l  BlackBerry seeks partners in bid to regain clout

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  Thailand Holds Rate As Baht Retreat Reduces Pressure To Ease

l  China Reports Weaker Than Expected Trade Data

l  China June Car Sales Up 11.2%

USA

l  Wholesale Inventories Unexpectedly Drop As U.S. Sales Surge

l  Fed Minutes Suggest No Immediate End To QE Stimulus

Europe

l  EU Unveils Bank-Crisis Plan With 55 Billion-Euro Fund

l  Ratings Agency Moody's Upgrades UK Banking Sector Outlook

l  French Industrial Output Declines Less Than Forecast

l  Italy’s Industrial Output Rises Less Than Forecast In May

Currencies

l  Dollar Drops Below 100 Yen After Bernanke Talks

Commodities

l  Brent Slips Towards $107 On Concerns Of Weakness In China Economy

l  Gold Rises On Fed Stimulus Extension Hopes