Kenanga Today: 27 July 2012

NEWS HIGHLIGHTS

- KLIA2 cost expected to remain at RM4b

- MMC shares fall on impending removal from FBM KLCI

- Tasek Corp 2Q net profit down 4.1% to RM23.13m, declaresinterim dividend 30 sen

- Compugates sells 12.3m Menang Corp shares

- Integrax poised to seal 25-year TNB coal contract

- Dividend cheer for Daibochi investors

- Rubber glove makers say ready for the minimum wage policy,removal of natural gas subsidies

 FOREIGN NEWS HIGHLIGHTS

- United Tech sells industrial units for USD3.5b

- Toyota Tsusho to buy PPR stake in CFAO

 ECONOMIC NEWS HIGHLIGHTS (MACROBITS)

Asia

- Philippines Cuts Rates

USA

- Jobless Claims In U.S. Decrease, Extending JulyVolatility

- Pending Sales Of U.S. Homes Unexpectedly Fell 1.4%In June

- Democrats Exceed Republicans In Optimism For Record 18 Weeks

Europe

- Draghi Says ECB Will Do What’s Needed To Preserve Euro

- David Cameron Defends Economic Policies

Currencies

- Euro Jumps As ECB’s Draghi Pledges To Save It

Commodities

- Oil Rises A Third Day On Draghi Pledge, U.S.Data

- Gold Rises As ECB Comment Boosts Easing Hopes

Source: Kenanga