News Bits | 15 July 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Company Update: NESTLE, REDTONE

l  Quick Bites: PERISAI

l  On Our Portfolio: Technical picture showing upside bias

l  On Our Technical: Weekly Technical

 

NEWS HIGHLIGHTS

l  SapuraKencana gets PTTEP job (Comment included in Kenanga Today)

l  Boustead to buy back its plantation REIT (Comment included in Kenanga Today)

l  Ekuinas plans one more Icon investment

l  AirAsia X plans Thai, Indonesian hubs

l  IOI Prop’s profit soars in 1st seven months

l  DRB-Hicom- ministry pact

FOREIGN NEWS HIGHLIGHTS       

l  Some Dell shareholders plan to vote against CEO's buyout

l  Coffey legacy Haunts GLG investors as Sibanthracite pulls IPO

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l   Consumer Confidence Remains Positive, Says Mastercard

 

Asia

l  IMF Predicts Slower Growth In Southeast Asia

l  Singapore's GDP Grew 3.7% From 0.2%

l  China Squeezes Shadow Banking As Li Grapples With Growth

l  China's Finance Minister Signals Growth May Fall Below 7%

 

USA

l  Consumer Sentiment In U.S. Unexpectedly Declined In July

l  Inflation Rears Its Head In June As Producers Hike Prices

 

Europe

l  S&P Upgrades Ireland's Credit Outlook As Debt Falls

l  UK Construction Sector Reviving, ONS Figures Show

l  Portugal's Borrowing Costs Jump As Political Tensions Rise

l  Fitch Cuts French Credit Rating On Budget, Economy Woes

l  France's Hollande Points To Economic Recovery, Urges Optimism

 

Currencies

l  Dollar Up Friday, Has First Weekly Drop In 4 Weeks

 

Commodities

l  Brent Holds Below $108 After Fall From Three-Month Peak

l  Gold Posts Biggest Weekly Gain In Nearly 2 Years