Morning News - 22 February 2016 - IOICORP/MALAKOFF/TROPICANA

Today’s Highlights

►    Results Note  – IOI CORP (SELL, downgrade)- Within expectation but downgrade to SELL

►    Results Note  – Malakoff (BUY, maintain)- Prai power plant restored

►    Results Note  – Tropicana (BUY, maintain)- Achieved property sales of RM1.55bn in 2015

Outside Malaysia  

►    US stocks close little changed to cap best weekly gain in 2016

►    Core US consumer prices rise by most in over four years      

►    Fed's Mester says US economy can work through `soft patch'

►    Constancio signals ECB may mitigate sub-zero rates for banks

►    UK retail sales surged most in more than two years in January

►    Osborne may miss UK fiscal target despite bumper January

►    PBOC to raise reserve ratios for banks that don't meet criteria

►    Oil falls below US$30 as rising US crude stockpiles expand glut