News Bits | 19 August 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Results Note: AMMB, CENSOF, MISC, POS

l  On Our Portfolio: Consolidation Mode

l  On Our Technical Watch: Weekly Technical

 

NEWS HIGHLIGHTS

l  Encorp back to the black on higher sales

l  Ho Hup gets 2 notices of appeal from Zen

l  Proton sets initial sales target of 750 units for Proton Suprima S per month

l  Kulim defends bid to raise NBPOL stake

l  Berjaya Assets posts lower Q4 net profit

FOREIGN NEWS HIGHLIGHTS       

l  L’Oreal to Buy Magic Holdings International for USD843.0m

l  Ethiopia signs USD800.0m mobile network deal with China's ZTE

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  Singapore July Exports Dip

l  China’s July Home Prices Rise As Nation Seeks Long-Term Measures

l  China To Ease Foreign Investment Rules For New Free Trade Zones

USA

l  US Consumer Sentiment Much Lighter Than Expected In August

l  US New Home Construction Rises, Buoyed By Apartment Boom

Europe

l  U.K. Growth Forecasts Raised By Cbi As Recovery Builds Momentum

l  Gilts Fall Fourth Week As Growth Signs Fuel Bets On Higher Rates

Currencies

l  Dollar Regains Footing, Ekes Out Weekly Rise

Commodities

l  Brent Steadies Under $110, Set For Weekly Rise On Egypt Unrest

l  Gold Posts 5 Pct Weekly Gain On Economic Uncertainty