Morning News - 29 July 2015 - AUTO / TENAGA / BAT / IGBREIT / MMHE / GTRONICS

Today’s Highlights

►    Sector Update – Auto & autoparts (NEUTRAL, maintain) - 1H15: GST speed bump

►    Company Update  – Tenaga (HOLD, maintain) - Expecting a decent quarter

►    Results Note  – British American Tobacco (HOLD, maintain) - Weaker demand douses sales volume

►    Results Note – IGB REIT (BUY, maintain) - Qoq moderated, but within our expectations

►    Results Note – MMHE (SELL, maintain) - Weaker earnings, orderbook at record low

►    Results Note – Globetronics (BUY, maintain) - Another decent quarter

Outside Malaysia

►    US stocks halt worst slide since January on earnings, China

►    IMF says global growth still being held back by trade imbalances

►    Consumer confidence in US drops by most since August 2011

►    Home prices in 20 US cities climbed at slower pace in May

►    Services, finance and oil drive UK growth to 0.7%

►    Greek stock market on course to reopen as ECB gives assent

►    Wheeler says NZ economy not weak enough for big rate cuts ►    Crude oil climbs from four-month low as US equities rebound