Morning Coffee - 16 Aug 2012

MARKET ROUNDUP (Source Bloomberg)

Most U.S. Stocks Rise As Investors Weigh Economic Data: as investors weighed manufacturing data for clues on whether the Federal Reserve will move to stimulate the economy. More than two stocks advanced for each declining on U.S. exchanges. The S&P 500 rose 0.1 percent to 1,405.53, after falling as much as 0.2 percent. The Dow Jones Industrial Average slipped 7.36 points, or 0.1 percent, to 13,164.78. Volume for exchange-listed stocks in the U.S. was 4.8 billion shares, 26 percent below the three-month average.

European Stocks Little Changed; as a worse-than-expected manufacturing report for the New York area revived hopes the Federal Reserve will act to stimulate the economy. France’s CAC 40 retreated less than 0.1 percent, while the U.K.’s FTSE
100 fell 0.5 percent. Germany’s DAX slipped 0.4 percent.

Oil Gains As Supplies Decline More Than Expected: amid rising demand and Middle East tension grew as three nations called on their citizens to leave Lebanon because of a kidnapping threat. Oil for September delivery rose 90 cents to $94.33 a barrel on the New York Mercantile Exchange, the highest settlement since May 14. Prices have rallied 11 percent in the second quarter.

CORPORATE NEWS

Al-Hadharah Boustead REITsustains earnings: fixed rental income had improved due to additional rental derived from plantation assets, performance-based income was affected due to a drop in crude palm oil prices.

Sentoria to develop resort in Kuantan: called Global Heritage South in Kuantan, Pahang, with a gross development value of over RM300 million. The development will include two and three-storey resort villas, a clubhouse and a boutique hotel. Its subsidiaries will sit on a 44.6ha.

Btimes

Higher earnings, revenue for CIMB Group: the group's “solid performance” for the first half to continued strong growth at its PT Bank CIMB Niaga TBK in Indonesia and CIMB Bank (Singapore) as well as the outperformance at its corporate banking and treasury markets.

AFG net profit 4.2% lower due to higher expenses: as the group continued to invest in the capabilities and systems required to establish a diversified base of earnings.
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Source:Jupiter Securities Research 16 August 2012