News Bits | 19 July 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Sector Update: Media

l  Company Update: HUAYANG, MUHIBBAH, SAM

l  Results Note:, BURSA, TENAGA

l  Quick Bites: BIPORT, BTOTO, FGV, TSH

l  On Our Portfolio: GOB

l  On Our Technical Watch: GOB, REDTONE

 

NEWS HIGHLIGHTS

l  Gabungan AQRS wins RM21.0m job

l  Sona Petroleum IPO oversubscribed 6.0 times

l  Ho Hup to buy Bukit Jalil stake from Zen Courts for RM36.0m

l  FGV stands firm behind new CEO

l  More investments in Gurney Paragon Mall by year-end

l  GD Express now on Main Market

FOREIGN NEWS HIGHLIGHTS       

l  Initial takeover bids for Onyx seen as soon as this week

l  Nokia sales miss analysts’ estimates as handset demand wanes

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  Moody's: Asia-Pacific Sovereign Ratings Stable

l  ADB: Strong Impact From China Unlikely

l  China Home Prices Rise As Big Cities Post Record Gains

 

USA

l  U.S. Jobless Claims Decline On Auto Factory Shutdowns

l  Leading Economic Indicators Index In U.S. Was Unchanged

l  Moody's Upgrades Us To 'Stable,' Keeps AAA Rating

 

Europe

l  UK Retail Sales Rise 0.2% After Discounting By Department Stores

l  ECB Changes Collateral Rules As It Seeks To Boost Lending

 

Currencies

l  Dollar Rises Vs. Yen As Economic Outlook Brightens

 

Commodities

l  US Crude Hits 16-Mth High Above $108, Brent-WTI Spread Hits 51 Cts

l  Gold Rebounds On Crude Oil Gains, Short-Covering