News Bits | 21 November 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Initiate Coverage: SUNWAY

l  Results Note: AIRASIA, KLK, MBMR, NOTION, STAR, TCHONG, UOADEV

l  Quick Bites: CENSOF

l  On Our Radar: ENGTEX

l  On Our Technical Watch: PESTECH, INSTACO

 

NEWS HIGHLIGHTS

l  Bumi Armada profit up 27% to RM121.2m

l  Prestariang Q3 earnings up 20.7% to RM12.3m

l  Tropicana, Marriott tie up on Courtyard

l  Circle K keen on listing

l  Petra Energy incurs a net loss of RM4.1m

FOREIGN NEWS HIGHLIGHTS           

l  Chrysler adds four underwriters as it eyes December IPO

l  Deere earnings forecast tops estimates as construction gains

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l  Moody’s Raises Outlook On Malaysia To Positive From Stable

l  US To Remain As Top Investor In Malaysia

Asia

l  Japan In Biggest Annual Exports Rise For Three Years

USA

l  Consumer Prices In U.S. Decline For First Time In Six Months

l  US Retail Sales Jump In October As Prices Tumble To 4-Year Low

l  Fed Taper Likely In ‘Coming Months’ On Better Data

l  Debt Limit Rise May Not Be Needed Until June, CBO Says

Europe

l  EU Budget Gets The Nod

l  Bank Of England Says UK In Sustained Recovery

Currencies

l  Dollar Up Vs. Euro On Potential For Diverging Policies

Commodities

l  Brent Up $1 On Iran, Fed Weighs On U.S. Oil

l  Gold Slumps To Four-Month Low After Fed Minutes