Friday, August 2, 2013

News Bits | 2 August 2013


IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)
l  Results Note: AXIATA, GMSIA
l  Quick Bites: BIMB
l  On Our Technical Watch: GHLSYS
 
NEWS HIGHLIGHTS
l  TM, Astro seal deal on channels
l  KKB bags RM17m Petronas job
l  Ong Leong Huat denies privatising OSK Prop
l  BIMB Holdings in RM6.7b corporate exercise, buys 49% of Bank Islam
l  Pavilion REIT Q2 net profit jumps 9pc
l  Celcom, BSN alliance to lift prepaid use
FOREIGN NEWS HIGHLIGHTS       
l  SEC prevails as jury finds Goldman's Tourre liable for fraud
l  AIG announces first dividend since 2008 as profit climbs
 
ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)
Malaysia
l  Najib Plans Budget Measures After Fitch Cuts Malaysia’s Outlook
Asia
l  China Manufacturing Activity Sees Mixed Data
l  China’s Real Exchange Rate Undervalued 5%-10%, IMF Report Says
l  Indonesia’s High Inflation A Concern
USA
l  US Jobless Claims Plunge To Lowest In Nearly Six Years
l  Manufacturing In U.S. Accelerates More Than Forecast
l  Construction Spending In U.S. Unexpectedly Declined In June
l  Consumer Comfort In U.S. Rises To Five-Year High On Economy View
Europe
l  ECB's Draghi Sees Recovery Signs, As Rates Held At 0.5%
l  Bank Of England Holds Rates At 0.5%
l  UK Factory Activity Roars Along At Start Of Third Quarter
Currencies
l  Dollar Rises As Data Bolster Taper Expectations
Commodities
l  Brent Rises Towards $108 On U.S., China Economic Data
l  Gold Falls As ECB Rate View, Strong US Data Boost Dollar
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