Kenanga Today : 20 July 2012

NEWS HIGHLIGHTS

- Petronas Signs HoA with Versalis for Rapid project

- Top Glove plans to spend RM3bil on capex

- Apex sells stake in Aussie firm

- Zecon sells mall to Tabung Haji

- RM800.0m sales from Sime Darby Property campaign

- Ho Hup gets contract worth RM87.0m from Johor Corp

- CCM cancels sukuk insurance

- OrientedMedia in private placement

FOREIGN NEWS HIGHLIGHTS

- Morgan Stanley Joins Citigroup In Job-Cut Push Amid Slump

- LSEand Singaporeexchange in merger talks

ECONOMIC NEWSHIGHLIGHTS (MACRO BITS)

Australasia

- Australia Business Outlook Dims As Rate-Cut CallsMount

USA

- Jobless Claims In U.S. Rise As Auto Layoff Effects Ease

- Americans Hold Dimmest View On Economic Outlook Since January

- Home Sales To Factories Point To Second-Half Weakness

Europe

- Libor Scandal: Central Banks To Consider Reforms

- Spain Struggles To Sell Debt As French YieldsFall To Record

- UK Retail Sales Increase By 0.1% In June

- U.K. Housing-MarketConfidence Falls As Economic Outlook Weakens

Africa

- South Africa Unexpectedly Cuts Benchmark Lending Rate

Currencies

- Euro Near Two-Week High

Commodities

- Oil Rises To Two-Month High On Rising MideastTension

- Gold Rebounds On Oil Rally, Technical Buying

Source: Kenanga