Wednesday, June 26, 2013

News Bits | 26 June 2013


IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)
l  Sector Update: Construction
l  Results Note: CRESNDO
l  On Our Portfolio: MPHB
l  On Our Technical Watch: IOICORP, SCIENTX
 
NEWS HIGHLIGHTS
l  Glomac Q4 net profit surges to RM31.1m
l  George Kent earnings up in Q1
l  AirAsia terminates Japan joint venture
l  Scientex spends RM50.0m to expand capacity
l  IHH Healthcare for 2-digit growth driven by more beds
l  Inari completes RM102.9m acquisition of Amertron
l  Pelikan aims to penetrate Brazil, Peru, Chile and Ecuador
FOREIGN NEWS HIGHLIGHTS
l  Marathon Oil to buy back shares with Angola deal proceeds
l  Dish T-Mobile bid seen as Ergen’s last resort
 
ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)
Malaysia
l  M'sian 2012 Gross Fixed Capital Formation Hits Rm242bil, Highest In 7 Years
Asia
l  PBOC Says It Will Ensure Stability Of China Money Market
USA
l  Consumers To Factories Point To Durable Expansion
l  Consumer Confidence in U.S. Increases More Than Forecast
l  Orders For U.S. Durable Goods Rose More Than Forecast
l  US Home Prices See Biggest Annual Rise Since 2006
Europe
l  'Normal' Interest Rates A Long Way Off
l  UK Housing And Business Lending Diverge, Banks' Data Shows
l  Dutch Economy Contracts More Than Initially Estimated
l  Hungary Cuts Main Rate To Record As Bank Targets Growth
Currencies
l  Dollar Up As Strong Housing Data Support Tapering
Commodities
l  Oil Ends Flat In Thin Trade, Brent/WTI Spread Narrows
l  Gold Slips As Robust Data Boosts Dollar