News Bits | 17 July 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Company Update: TENAGA

l  Quick Bites: BOUSTEAD, MAXIS

l  On Our Technical Watch: ALAM, GADANG

 

NEWS HIGHLIGHTS

l  Alliance incentive plan on hold

l  Maxtral unit sells assets under receivership

l  UMW Oil & Gas Corp plans to raise up to RM2.4b

l  Ranhill fixes IPO price at RM1.85 a share

l  Harvest Court to sell hotel in Kota Kinabalu

l  Puncak gains ground on investor interest

FOREIGN NEWS HIGHLIGHTS       

l  Chevron, Argentina's YPF sign USD1.2b Vaca Muerta shale deal

l  Coca-Cola profit hit as global economy, weather misbehave

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  ADB Lowers Forecast For Developing Asia

l  China’s Treasuries Holdings Hit Record As Investors Sell

l  China Adds 7.25m Jobs In First Half

l  China To Avoid ‘Wide Fluctuations’ In Economy, Li Says

USA

l  Consumer Prices In U.S. Rise More Than Forecast On Fuel

l  Homebuilder Confidence In U.S. Increases More Than Forecast

l  Industrial Output In U.S. Rises By Most In Four Months

Europe

l  UK Inflation Rate Rises To 2.9% In June

l  Eurozone Employment Picture Bleak, Says OECD

l  European Car Sales Suffer Worst June Total Since 1996

l  Poland To Relax Budget And Fiscal Rules To Stimulate Economy

Currencies

l  Dollar Falls As Investors Await Bernanke Testimony

Commodities

l  Brent Rises As U.S. Gasoline Hits 4-Month High

l  Gold Up As Stable CPI Eases Stimulus Tapering Fears