News Bits | 16 May 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Results Note: DIALOG, GASMIA, TCHONG, UOADEV

l  Quick Bites: ASTRO

l  On Our Radar: GADANG

l  On Our Technical Watch: JCY, GBGAQRS

l  Economic Viewpoint: 1Q13 GDP, BOP

 

NEWS HIGHLIGHTS

l  Pharmaniaga posts 1Q profit vs loss in 4QFY12

l  ABM Automotive 1Q profit falls 14.0% on competitive OEM pricing

l  Shell Refining Co posts loss in Q1

l  Tomei hopes bigger profit for FY13, after gold price plunge

l  BIMB to deliberate on Bank Islam stake by end-May

l  San Miguel: Sale of BoC to CIMB at last stage

l  Skali Group positive on bid for TIME Engineering

FOREIGN NEWS HIGHLIGHTS

l  Chevron agrees terms of Argentina shale investment

l  Tesla seeks to raise USD830.0m to speed U.S. repayment

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l  1Q13 GDP moderated to 4.1%

l  Zeti: Govt Can Rationalise Subsidies Gradually

Asia

l  BOJ To Pump US$27b Into Money Mart

North America

l  Production Falls As U.S. Feels Global Weakness

l  Homebuilder Confidence In U.S. Climbs As Outlook Improves

l  Foreign Demand For U.S. Financial Assets Declined In March

l  CBO Slashes 2013 Deficit Projection To $642 Billion

l  Canadian Factory Sales Record Third Drop In Four Months

Europe

l  Eurozone Recession Continues Into Sixth Quarter

l  French Economy Returns To Recession

l  UK Unemployment Rises To 2.52 Mil

l  King Declares U.K. Recovery Is In Sight As Outlook Raised

Currencies

l  Dollar Holds Broad Gains After U.S. Data

Commodities

l  Oil Gains $1 On U.S. Equity Rally

l  Gold Slips Below $1,400, Down 2 Pct On Eco