Morning News - 20 April 2015 - BAT / BURSA / MCIL / ECONOMY - US OUTLOOK

Today’s Highlights

►    Company Update – British American Tobacco  (HOLD, maintain)  - Back to square one

►    Company Update – Bursa  (HOLD, maintain) - Market remains resilient; 1Q15 should be in line

►    Company Update – MCIL (SELL, maintain) - Exploring beyond print

►    Economy – US Outlook – Weekly Wrap (13 – 17 April 2015) - Will US Fed delay the first rate hike until September?

Quick bites

►    Tenaga: JAKS wooing Tenaga for Vietnam power plant

Outside Malaysia

►    US stocks fall amid global selloff on AmEx, inflation concerns

►    Inflation shows signs of life as Americans gain confidence

►    Leading indicators in the US rose less than forecast in March

►    Americans’ confidence climbs to second-highest since 2007

►    Euro area seeks Greece roadmap to may agreement to avoid default

►    China shifts into stimulus mode with cut to banks’ reserve ratio

►    Singapore exports show regional bright spot that might not last

►    Crude oil caps biggest weekly gain in four years as rigs drop