News Bits | 11 March 2013

IDEAS OF THE DAY

l  Sector Update: Plantation

l  Company Update: OLDTOWN

l  On Our Portfolio: Market Sentiment Remains Positive

 

NEWS HIGHLIGHTS

l  UMW completes disposal of shareholding in Hilong Holding

l  MMC gets SC nod for Malakoff listing

l  Berjaya Food earnings up 84.0%

l  I-Bhd aims for jump in profit from I-city development

l  NTPM declares 14.5% dividend for FY ending April 2013

l  Daya Materials in four share-sale agreements

l  Ariantec calls for EGM to remove directors

l  Johore Tin makes Kamaludin chairman

FOREIGN NEWS HIGHLIGHTS

l  Singapore's Temasek to buy stake in Germany's Evonik

l  PetroChina looks to add to USD3.7b in Australian deals

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  Japan Growth Figures Lift Recovery Hopes

l  China Exports Beat Forecasts On Strong Us Demand

l  China's Feb Lending Misses Expectations

l  China Plans Revamp Of Railways, Energy, Food Safety Ministries

USA

l  US Economy Added 236,000 Jobs In February

Europe

l  Fitch Cuts Italy Rating After Election Impasse

l  Spain’s January Industrial Production Fell Less Than Expected

l  Spanish Bonds Gain On Economy, Debt-Auction Optimism; Bunds Fall

l  UK Construction Output Drops In January

l  ECB Should Cut Rates, Allow Higher Inflation: Lagarde

Middle East

l  Egypt Inflation At Highest Since May Fuels Rate Speculation

Currencies

l  Dollar Rallies As February Payrolls Leap

Commodities

l  Brent Crude Slips, High-Priced Rins Boost U.S. Gasoline

l  Gold Flat After U.S. Payrolls, Palladium Rises On Demand Hope