Monday, February 18, 2013

News Bits | 18 Feb 2013


IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Quick Bites: WASEONG
l  On Our Portfolio: In a range-bound mode

NEWS HIGHLIGHTS

l  P&O to use RM37.0m from insurance unit sale to pay special dividends
l  Terberg-Sime JV wins tractor contract
l  Lingui posts loss on changes at associate firm
l  Metronic’s MiCare to sell for RM10.2m
l  Azim, allies set to get Patimas board seats
l  Azizul Rahman backs listing of TerraGali

FOREIGN NEWS HIGHLIGHTS

l  GM paid USD119.0m for 1.0% stake in China JV
l  Natixis plans EUR2.0b  payout after stake sale

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Global
l  G20 Vows To Combat Corporate Tax Avoidance

Asia
l  China New Year Retail Sales Growth Slows On Frugal Drive

USA
l  Industrial Production Drops 0.1% On Weak Manufacturing
l  Bernanke Says Economy Far From Recovering Full Strength

Americas
l  Jamaica Agrees $750m IMF Loan Terms

Europe
l  Euro Zone Dec Trade Surplus Rises As Imports Sink
l  UK Retail Sales Fall Unexpectedly In January
l  Spanish, Italian Bonds Gain As Sales Allay Funding Fears

Currencies
l  Dollar Gains As Yen Weakens With Focus On G-20

Commodities
l  Oil Sinks, Brent Headed For First Weekly Loss Since Jan
l  Gold Drops Over 3.7% In Week On Technical Selling
at