Monday, April 29, 2013

News Bits | 29 April 2013


IDEAS OF THE DAY
l  Results Note: AIRPORT
l  On Our Portfolio: Another Record High Week, Adding AMBANK into Our Thematic Portfolio
 
NEWS HIGHLIGHTS
l  TH Heavy net profit declines 22.7%
l  EP Manufacturing net profit falls to RM5.6m
l  Three-A 1Q profit down 30.7% on higher costs
l  Zecon clinches RM495.0m contract
l  Crest Builder in land agreement
l  Lion Corp sells Lion Forest stake
l  Paramount shares traded off market
FOREIGN NEWS HIGHLIGHTS
l  Fosun Pharma says will buy Israel's Alma Lasers Ltd for USD240.0m
l  Nokia betting on USD20.0 handset as it loses ground on IPhone
 
ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)
Asia
l  Bank Of Japan Lifts Economic Forecasts
l  BoJ Maintains Pace Of Monetary Easing
l  Consumer Prices In Japan Fall For 5th Straight Month
l  China Industrial Profit Growth Slows As Economic Recovery Wanes
USA
l  US Economy Grows 2.5% On Buoyant Consumer Spending
l  US Consumers Less Positive As Economic Concerns Weigh
Europe
l  Letta Appointed Prime Minister, Italy Gets New Government
l  French Unemployment At New High
l  Greek Parliament Approves 15,000 Civil Service Job Cuts
l  Spain Revises Down Its Economic Forecast
l  Iceland Ousts Government IMF Praised Amid Austerity Fatigue
Currencies
l  Dollar Falls On Disappointing U.S. GDP Data
Commodities
l  Brent Slips Below $103, Narrows Spread With WTI
l  Gold Down But Posts Biggest Weekly Gain In Three Months
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