Friday, May 13, 2016

Morning News - 13 May 2016 - BUILDING MATERIALS / PENB / SPSB / MPRIMA / ECONOMY - IPI, IOS & ASEAN OUTLOOK

Today’s Highlights
    Sector Update – Building Materials (NEUTRAL, maintain) - Steel: Recent rally in prices unlikely to sustain
    Company Update  – Petra Energy (BUY, maintain) - Higher crude prices likely to drive earnings
    Results Note – SP Setia (BUY, maintain) - Strong unbilled sales of RM8.6bn
    Results Note  – Media Prima (SELL, maintain) - Print segment deteriorates further
    Economy  – IPI - Growth in IPI slowed to 2.8% yoy in March
    Economy  – Index Of Services (IOS) - Sustained increase in growth of private services sector
    Economy  – ASEAN Outlook – Weekly Wrap - Most Asean central banks kept policy rates unchanged



Quick Bites
    FGV: MOU with Mara Liner
    Construction: MRT Corp awards four contracts worth RM4.2bn



Outside Malaysia            
    US stocks close little changed as Apple offsets Monsanto gains
    US jobless claims rise to one-year high on surge in New York
    Fed’s George urges higher rates to avert asset-price bubbles
    Euro area industrial production unexpectedly drops in March
    Carney warns Brexit risks causing recession
    Philippines holds benchmark rate at 4% as growth set to quicken
    India inflation quickens more than estimated
    Oil settles at six-month high as market weighs supply balance

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