Monday 31 December 2012

Kenanga Today - 31 Dec 2012


NEWS HIGHLIGHTS
l SelProp 4QFY2012 net profit falls
l Quality Concrete posts RM1.25m loss for 3Q12
l Kumpulan Europlus incurs higher losses on share of associates, provision, finance cost
l Felda Global may sell Tradewinds stake
l RM1.5b theme park for Morib
l Yinson’s 49%-owned PTSC raises RM918.0m loans to convert FPSO
l OCK eyes transfer to Main Market

FOREIGN NEWS HIGHLIGHTS
l Apple will drop Galaxy S IIIMini from Samsung patent suit
l Toshiba in talks to cut Westinghouse stake

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)
Asia
l Japan Economy: Latest Data Underlines Weakness
l South Korea November Industrial Output Up For 3rd Straight Month
l China Central Bank Spells Out Priorities
USA
l Obama Ups Pressure On Republicans Over 'Fiscal Cliff'
l Pending Home Sales Rise 1.7 %, Beating Forecast
l Treasury 10-Year Yields Head For Record Low On Demand For Haven

Europe
l IMF And EU Push For Less Drastic Deficit Cuts
l Italy's 10-Year Borrowing Costs Rise Slightly At Auction

Middle East
l Saudi Arabia Boosts Spending Goal By Fifth In Record Budget
l Egypt To Resume IMF Loan Talks As Reserves Dwindle

Currencies
l Dollar Moves Up As Investors Watch Fiscal Talks

Commodities
l Oil Slips As USFuel Stocks Rise, Budget Worries Linger
l Gold Down On Day, Week Amid Last-Ditch US Budget Talks

Source: Kenanga

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