MARKET ROUNDUP
Most U.S. Stocks Rise as Investors Weigh Data, Speech
As
investors weighed economic reports and President Barack Obama’s State
of the Union address. The S&P 500 advanced 0.1 percent to 1,520.33
at 4 p.m. in New York. The Dow Jones Industrial Average lost 35.79
points, or 0.3 percent, to 13,982.91. Four stocks gained for every three
that fell on U.S. exchanges, with about 6 billion shares changing
hands, 2.9 percent lower than the three-month average. Retail sales in
the U.S. rose 0.1 percent last month, matching the median forecast of
economists surveyed by Bloomberg, which showed household spending is
holding up even as an increase in the payroll tax takes a bigger bite
from paychecks.
WTI OIL FALLS ON IRAN NUCLEAR NEGOTIATIONS
After
Iran said it was nearing agreement with nuclear inspectors and as the
Energy Information Administration said U.S. crude output rose to the
highest level in 20 years. Crude oil for March delivery fell 50 cents to
settle at $97.01 a barrel on the New York Mercantile Exchange. Futures
have declined 3.9 percent in the past year.
PALM OIL EXPORTS FROM INDONESIA SEEN FALLING TO FOUR-MONTH LOW
The
world’s largest grower, may decline to the lowest level in four months
in February as more buyers turn to Malaysia after it extended duty-free
shipments to clear record stockpiles. Malaysia, the second-largest
producer, set its tax on crude exports at zero for January and February
after revamping tariffs to combat the biggest ever reserves. Prices in
Kuala Lumpur, which lost 23 percent last year as the stockpiles
accumulated, have climbed 3.2 percent in 2013 amid speculation the
reserves will drop as exports gain and supply contracts. Futures on the
Malaysia Derivatives Exchange, the regional benchmark, fell 1.7 percent
to 2,516 ($814) a ton at 5:34 p.m. yesterday after the Palm Oil Board
released January data for reserves, shipments and output. Stockpiles
fell 1.9 percent from a record to 2.58 million tons, a smaller decline
than forecast. Exports declined 1.6 percent as production dropped 10
percent. - Bloomberg
NEWS
AZRB signs RM1.55bil East Klang Valley Expressway deal
AZRB
said in a note to Bursa Malaysia that the concession period shall be
for a period of 50 years, adding that the Government had agreed to
provide a loan amounting to RM635mil at an interest rate of 4% per
annum. Under the concession agreement, AZRB said the works would involve
the design and construction of the expressway, including the upgrading
works and the widening of the existing road, as well as the supply and
installation of tolling and other equipment (including
telecommunications equipment) at the toll plaza, and managing, operating
and maintaining the same on the expressway during the concession
period. The concession also grants AZRB the right to demand, collect and
retain the toll for its own benefit from all vehicles liable to pay
toll using the expressway during the operating period.
http://biz.thestar.com.my
Online insurance attractive, Tune and others competing for its strong profit margins
One
insurer intending to lead the pack is Tune Ins Holdings Bhd. Although
there are some hurdles in this new channel of distribution, the company,
like other insurers, is bullish on the scope of this channel going
forward. Tune Ins, which had a database of 7.6 million online
policyholders as at Dec 31, 2012, sold six million insurance policies
online last year, putting the company at the forefront of this growing
business segment. An industry observer felt that the longstanding
tariffs for products such as motor insurance and fire insurance had been
holding Malaysia back. Essentially, motor tariff insurance companies,
on average, lose money, while the fire tariff insurance companies make
decent profits. http://biz.thestar.com.my
People world-wide are buying fewer mobile-phones for the first time in four years
Smartphone
sales, a category dominated by Samsung and Apple, continued to rise, he
said, and the higher-end devices would account for more than half the
market for the first time this year. Total worldwide mobile sales to
endusers fell 1.7% to 1.75 billion units in 2012, Gartner said. Samsung
and Apple continued to dominate the market, with the South Korean
company selling 385 million phones in 2012, of which 53.5% were
smartphones, with Apple selling 130 million smartphones. In the fourth
quarter alone, Apple and Samsung accounted for 52% of smartphone sales,
up from 46% in the third quarter. China's Huawei reached third spot in
worldwide smartphone sales for the first time in the fourth quarter,
Gartner said. The company sold 27.2 million smartphones to end-users in
2012, up 74%. - Reuters
MRCB-Gapurna deal excites investors and analysts
MRCB
on Sunday entered into a collective share sale agreements to acquire
Nusa Gapurna Development Sdn Bhd's (NGD) subsidiaries, Gelanggang
Harapan Construction Sdn Bhd (GHC) and Gapurna Global Solutions for a
RM729 million. Its acquisition of NGD's subsidiaries include Gapurna
Builders Sdn Bhd, Gapurna Land Sdn Bhd, Puncak Wangi Sdn Bhd and 70%
owned PJ Sentral Development Sdn Bhd for RM459 million. The subsidiaries
own a combined 13.23ha of land in the Klang Valley, increasing MRCB's
depleting landbank from 20.23ha to 33.59ha. The total GDV of NGD's land
is estimated at RM5.7 billion. http://www.thesundaily.my
Jupiter Securities Research - 14 Feb 2013
Wednesday, 13 February 2013
Morning Coffee - 13 Feb 2013
MARKET ROUNDUP
U.S. Stocks Rise on Earnings as Investors Await Obama
As earnings topped estimates and investors awaited President Barack Obama’s State of the Union address. The Standard & Poor’s 500 Index gained 0.2 percent to 1,520.27. The Dow Jones Industrial Average increased 57.19 points, or 0.4 percent, to 14,028.43. Both gauges are poised for the highest close since 2007. Trading in S&P 500 companies was 5.9 percent below the 30-day average at this time of day. -Bloomberg
WTI Oil Climbs to One-Week High as OPEC Raises Demand
As OPEC raised its demand forecast and the Group of Seven pledged to avoid devaluing their currencies. Crude oil for March delivery advanced 48 cents to $97.51 a barrel on the New York Mercantile Exchange, the highest settlement since Feb. 1. Futures fell to $94.97 yesterday, the least since Jan. 23. -Bloomberg
Jupiter Securities Research - 13 Feb 2013
U.S. Stocks Rise on Earnings as Investors Await Obama
As earnings topped estimates and investors awaited President Barack Obama’s State of the Union address. The Standard & Poor’s 500 Index gained 0.2 percent to 1,520.27. The Dow Jones Industrial Average increased 57.19 points, or 0.4 percent, to 14,028.43. Both gauges are poised for the highest close since 2007. Trading in S&P 500 companies was 5.9 percent below the 30-day average at this time of day. -Bloomberg
WTI Oil Climbs to One-Week High as OPEC Raises Demand
As OPEC raised its demand forecast and the Group of Seven pledged to avoid devaluing their currencies. Crude oil for March delivery advanced 48 cents to $97.51 a barrel on the New York Mercantile Exchange, the highest settlement since Feb. 1. Futures fell to $94.97 yesterday, the least since Jan. 23. -Bloomberg
Jupiter Securities Research - 13 Feb 2013
Thursday, 7 February 2013
Morning Coffee - 8 Feb 2013
MARKET ROUNDUP
U.S. STOCKS FALL ON DRAGHI COMMENTS, EARNINGS REPORTS
As corporate earnings reports disappointed and European policy makers warned the euro’s advance could hamper the region’s recovery. The S&P 500 slid 0.2 percent to 1,509.39 at 4 p.m. in New York. It earlier fell as much as 0.9 percent and is poised for its first weekly drop of the year. The Dow Jones Industrial Average lost 42.47 points, or 0.3 percent, to 13,944.05. About 6.6 billion shares traded hands on U.S. exchanges today, 5.6 percent higher than the threemonth average. -Bloomberg
Oil prices fall on ECB chief's comments on euro
The euro weakened a little against the dollar on Thursday, and benchmark crude for March delivery fell 79 cents to finish at $95.83 a barrel on the New York Mercantile Exchange. The price of oil fell below $96 per barrel Thursday after the head of the European Central A strong euro hurts the export prospects of the 17 countries in the common currency zone. -The Associated Press
Jupiter Securities Research - 7 Feb 2013
U.S. STOCKS FALL ON DRAGHI COMMENTS, EARNINGS REPORTS
As corporate earnings reports disappointed and European policy makers warned the euro’s advance could hamper the region’s recovery. The S&P 500 slid 0.2 percent to 1,509.39 at 4 p.m. in New York. It earlier fell as much as 0.9 percent and is poised for its first weekly drop of the year. The Dow Jones Industrial Average lost 42.47 points, or 0.3 percent, to 13,944.05. About 6.6 billion shares traded hands on U.S. exchanges today, 5.6 percent higher than the threemonth average. -Bloomberg
Oil prices fall on ECB chief's comments on euro
The euro weakened a little against the dollar on Thursday, and benchmark crude for March delivery fell 79 cents to finish at $95.83 a barrel on the New York Mercantile Exchange. The price of oil fell below $96 per barrel Thursday after the head of the European Central A strong euro hurts the export prospects of the 17 countries in the common currency zone. -The Associated Press
Jupiter Securities Research - 7 Feb 2013
Tuesday, 5 February 2013
Morning Coffee - 6 Feb 2013
MARKET ROUNDUP
U.S. Stocks Rise on Earnings as Dell Agrees to Be Bought Rebounding from the biggest loss of the year for benchmark indexes, as earnings topped forecasts and
Dell Inc. (DELL) agreed to be taken private in the largest leveraged buyout since the financial crisis. The Standard & Poor’s 500 Index rose 1 percent to 1,511.24 at 4 p.m. in New York. The benchmark equity index sank 1.2 percent yesterday amid concern that the European debt crisis may intensify. The Institute for Supply Management’s index (SPX) of U.S. nonmanufacturing businesses, which covers about 90 percent of the economy, fell to 55.2 in January from the prior month’s 55.7, the Tempe, Arizona-based group said.
Oil Rebounds on Services Report
After the biggest decline in two months as U.S. service industries expanded at a better-than-expected pace in January, signaling growth in 90 percent of the U.S. economy and stronger demand for crude. Oil advanced 0.5 percent as the Institute for Supply Management’s index of U.S. non-manufacturing businesses reached 55.2, beating the estimate of 55 in a Bloomberg survey of economists. West Texas Intermediate crude oil for March delivery rose 47 cents to settle at $96.64 a barrel on the New York Mercantile Exchange. Prices dropped the most since Dec. 6 yesterday. Trading was 10 percent above the 100-day average at 4:32 p.m. Prices have gained 5.2 percent this year.
(Source: Bloomberg)
NEWS
IJM ropes in China firm to grow Kuantan Port
IJM, via its unit Road Builder (M) Holdings Bhd (RBH), yesterday signed a memorandum of understanding (MOU) with Guangxi to outline the basic principles for the disposal of 48 million shares or 40% stake in KPC. The proposed disposal is conditional on the approval of the Malaysian government, which holds a golden share in KPC, and the change of shareholdings in KPC under the privatisation agreement signed between the government and KPC in November 1997. It is also conditional on a 60-year extension of the current concession to KPC, which expires in 2027, as well as the granting of a 60-year concession to KPC for a new deep water terminal. Under the deal, a joint venture company will be set up by IJM and Guangxi on a 60:40 equity participation, which will acquire and jointly develop 280ha of industrial land north of Kuantan Port with the assistance of the Pahang state government. Guangxi is a China stateowned company that operates four ports in China, namely Fangchenggang, Beihai, Tieshan and Qinzhou. http://www.thesundaily.my
Hartalega Q3 net profit up 19%
Revenue rose 7% to RM259.6 million from RM242.0 million. For the nine-month period, the group's net profit rose 14% to RM172.4 million from RM151.6 million a year ago, while revenue grew 10% to RM762.3 million from RM690.7 million. The group also declared a second interim dividend of 3.5 sen per share for the financial year ending March 31, 2013, payable on March 21. This brings total dividends declared to date for the first and second interim periods to 7
sen. In a statement today, Hartalega managing director Kuan Mun Leong said the group is bullish on growth prospects in the nitrile market, given that global demand for nitrile rubber gloves has continued to grow at an exponential rate of
20% driven by customer switching from latex to nitrile. http://www.thesundaily.my
UMW lands US$140m Sabah Shell project
UMW Holdings Bhd has received a letter of award from Sabah Shell Petroleum Company Ltd for a US$140mil contract. UMW said on Tuesday its unit UMW Petrodril (Malaysia) Sdn Bhd received the letter for the contract to supply a single combo top tension riser for Sabah Shell's Malikai project. "The contract is expected to contribute positively to the 2013 earnings and net assets of the UMW Group," it said. Some websites state top tensioned riser systems connect the subsea well bore to the floating production vessel. Top tensioned riser pipes are normally in contact with high-pressure production fluids and are subjected to dynamic loads. http://biz.thestar.com.my
UMW’s capex to hit RM4b over next 3 years, says RAM Ratings
RAM Ratings issued the statement after the finalisation of transaction documents and it assigned a final AAA long-term rating to UMW's proposed RM2bil Islamic medium-term notes programme (2013/2028) while the rating had a stable outlook. To recap, UMW assembles and distributes Toyota vehicles, trading of heavy and industrial equipment (Komatsu, Toyota, Case and Bomag), provision of oil and gas (O&G) services (with drilling and oil-field services as core offerings), manufacture of automotive parts, and distribution of lubricants (Pennzoil and Repsol). RAM Ratings said the rating predominantly reflected UMW's strong market position and solid financial profile. UMW's 51%-owned UMW Toyota Motor Sdn Bhd distributes the Toyota marque that leads the non-national segment of the Malaysian automotive industry. Toyota accounted for 14.49% of the total industry volume as at end-2011; its best-selling models are Vios, Camry, Hiluxand Hiace - the most popular brands in their respective segments. http://biz.thestar.com.my
Jupiter Securities Research - 6 Feb 2013
U.S. Stocks Rise on Earnings as Dell Agrees to Be Bought Rebounding from the biggest loss of the year for benchmark indexes, as earnings topped forecasts and
Dell Inc. (DELL) agreed to be taken private in the largest leveraged buyout since the financial crisis. The Standard & Poor’s 500 Index rose 1 percent to 1,511.24 at 4 p.m. in New York. The benchmark equity index sank 1.2 percent yesterday amid concern that the European debt crisis may intensify. The Institute for Supply Management’s index (SPX) of U.S. nonmanufacturing businesses, which covers about 90 percent of the economy, fell to 55.2 in January from the prior month’s 55.7, the Tempe, Arizona-based group said.
Oil Rebounds on Services Report
After the biggest decline in two months as U.S. service industries expanded at a better-than-expected pace in January, signaling growth in 90 percent of the U.S. economy and stronger demand for crude. Oil advanced 0.5 percent as the Institute for Supply Management’s index of U.S. non-manufacturing businesses reached 55.2, beating the estimate of 55 in a Bloomberg survey of economists. West Texas Intermediate crude oil for March delivery rose 47 cents to settle at $96.64 a barrel on the New York Mercantile Exchange. Prices dropped the most since Dec. 6 yesterday. Trading was 10 percent above the 100-day average at 4:32 p.m. Prices have gained 5.2 percent this year.
(Source: Bloomberg)
NEWS
IJM ropes in China firm to grow Kuantan Port
IJM, via its unit Road Builder (M) Holdings Bhd (RBH), yesterday signed a memorandum of understanding (MOU) with Guangxi to outline the basic principles for the disposal of 48 million shares or 40% stake in KPC. The proposed disposal is conditional on the approval of the Malaysian government, which holds a golden share in KPC, and the change of shareholdings in KPC under the privatisation agreement signed between the government and KPC in November 1997. It is also conditional on a 60-year extension of the current concession to KPC, which expires in 2027, as well as the granting of a 60-year concession to KPC for a new deep water terminal. Under the deal, a joint venture company will be set up by IJM and Guangxi on a 60:40 equity participation, which will acquire and jointly develop 280ha of industrial land north of Kuantan Port with the assistance of the Pahang state government. Guangxi is a China stateowned company that operates four ports in China, namely Fangchenggang, Beihai, Tieshan and Qinzhou. http://www.thesundaily.my
Hartalega Q3 net profit up 19%
Revenue rose 7% to RM259.6 million from RM242.0 million. For the nine-month period, the group's net profit rose 14% to RM172.4 million from RM151.6 million a year ago, while revenue grew 10% to RM762.3 million from RM690.7 million. The group also declared a second interim dividend of 3.5 sen per share for the financial year ending March 31, 2013, payable on March 21. This brings total dividends declared to date for the first and second interim periods to 7
sen. In a statement today, Hartalega managing director Kuan Mun Leong said the group is bullish on growth prospects in the nitrile market, given that global demand for nitrile rubber gloves has continued to grow at an exponential rate of
20% driven by customer switching from latex to nitrile. http://www.thesundaily.my
UMW lands US$140m Sabah Shell project
UMW Holdings Bhd has received a letter of award from Sabah Shell Petroleum Company Ltd for a US$140mil contract. UMW said on Tuesday its unit UMW Petrodril (Malaysia) Sdn Bhd received the letter for the contract to supply a single combo top tension riser for Sabah Shell's Malikai project. "The contract is expected to contribute positively to the 2013 earnings and net assets of the UMW Group," it said. Some websites state top tensioned riser systems connect the subsea well bore to the floating production vessel. Top tensioned riser pipes are normally in contact with high-pressure production fluids and are subjected to dynamic loads. http://biz.thestar.com.my
UMW’s capex to hit RM4b over next 3 years, says RAM Ratings
RAM Ratings issued the statement after the finalisation of transaction documents and it assigned a final AAA long-term rating to UMW's proposed RM2bil Islamic medium-term notes programme (2013/2028) while the rating had a stable outlook. To recap, UMW assembles and distributes Toyota vehicles, trading of heavy and industrial equipment (Komatsu, Toyota, Case and Bomag), provision of oil and gas (O&G) services (with drilling and oil-field services as core offerings), manufacture of automotive parts, and distribution of lubricants (Pennzoil and Repsol). RAM Ratings said the rating predominantly reflected UMW's strong market position and solid financial profile. UMW's 51%-owned UMW Toyota Motor Sdn Bhd distributes the Toyota marque that leads the non-national segment of the Malaysian automotive industry. Toyota accounted for 14.49% of the total industry volume as at end-2011; its best-selling models are Vios, Camry, Hiluxand Hiace - the most popular brands in their respective segments. http://biz.thestar.com.my
Jupiter Securities Research - 6 Feb 2013
Monday, 4 February 2013
Morning Coffee - 5 Feb 2013
MARKET ROUNDUP
S&P 500 HAS BIGGEST DROP SINCE NOVEMBER ON EUROPE CONCERN
On concern that the European debt crisis may intensify. The S&P 500 slipped 1.2 percent, the most since Nov. 14, to 1,495.71 in New York, after reaching a five-year high last week. The Dow (INDU) Jones Industrial Average lost 129.71 points, or 0.9 percent, to 13,880.08. Orders placed with U.S. factories increased less than forecast in December, reflecting a drop in non-durable goods that overshadowed gains in construction equipment and computers. Bookings climbed 1.8 percent after a revised 0.3 percent drop in November that was initially reported as unchanged, Commerce Department figures showed.
OIL TRADES NEAR ONE-WEEK LOW ON IRAN TALKS OFFER, EUROPE CRISIS
as tension eased over Iran’s nuclear program and investors speculated Europe’s debt crisis will worsen, derailing the global economic recovery. Crude for March delivery was at $96.01 a barrel, down 16 cents, in electronic trading on the New York Mercantile Exchange at 10:47 a.m. Sydney time. The volume of all futures traded was 10 percent below the 100-day average. The contract slid $1.60 yesterday to $96.17, the lowest close since Jan. 25 and the biggest decrease since Dec. 6. (Source: Bloomberg)
Jupiter Securities Research - 5 Feb 2013
S&P 500 HAS BIGGEST DROP SINCE NOVEMBER ON EUROPE CONCERN
On concern that the European debt crisis may intensify. The S&P 500 slipped 1.2 percent, the most since Nov. 14, to 1,495.71 in New York, after reaching a five-year high last week. The Dow (INDU) Jones Industrial Average lost 129.71 points, or 0.9 percent, to 13,880.08. Orders placed with U.S. factories increased less than forecast in December, reflecting a drop in non-durable goods that overshadowed gains in construction equipment and computers. Bookings climbed 1.8 percent after a revised 0.3 percent drop in November that was initially reported as unchanged, Commerce Department figures showed.
OIL TRADES NEAR ONE-WEEK LOW ON IRAN TALKS OFFER, EUROPE CRISIS
as tension eased over Iran’s nuclear program and investors speculated Europe’s debt crisis will worsen, derailing the global economic recovery. Crude for March delivery was at $96.01 a barrel, down 16 cents, in electronic trading on the New York Mercantile Exchange at 10:47 a.m. Sydney time. The volume of all futures traded was 10 percent below the 100-day average. The contract slid $1.60 yesterday to $96.17, the lowest close since Jan. 25 and the biggest decrease since Dec. 6. (Source: Bloomberg)
Jupiter Securities Research - 5 Feb 2013
Sunday, 3 February 2013
Morning Coffee - 4 Feb 2013
MARKET ROUNDUP
U.S. STOCKS RALLY FOR FIFTH STRAIGHT WEEK ON JOBS REPORT
The S&P 500 rose 0.7 percent to 1,513.17 for the week. The benchmark equity gauge is up 6.1 percent for the year. The Dow Jones Industrial Average rallied 113.81 points, or 0.8 percent, to 14,009.79. The gauge closed above 14,000 for the first time since 2007 and is 1.1 percent below the all-time record it reached in October 2007.
OIL COMPLETES LONGEST RUN OF WEEKLY GAINS SINCE 2004
Futures climbed 0.3 percent after the Labor Department said payrolls rose 157,000 in January and the Institute for Supply Management’s U.S. factory index reached a nine-month high. The Dow Jones Industrial Average gained 1 percent. Brent oil’s premium to crude traded in New York widened because of limits on a pipeline linking the Midwest to the Gulf Coast. West Texas Intermediate oil for March delivery rose 28 cents to settle at $97.77 a barrel on the New York Mercantile Exchange. Trading at 3:21 p.m. was 65 percent above the 100-day average for the time of day. The weekly gain of 2 percent is the eighth in a row, matching a streak that ended in August 2004. (Source: Bloomberg)
Jupiter Securities Research - 4 February 2013
U.S. STOCKS RALLY FOR FIFTH STRAIGHT WEEK ON JOBS REPORT
The S&P 500 rose 0.7 percent to 1,513.17 for the week. The benchmark equity gauge is up 6.1 percent for the year. The Dow Jones Industrial Average rallied 113.81 points, or 0.8 percent, to 14,009.79. The gauge closed above 14,000 for the first time since 2007 and is 1.1 percent below the all-time record it reached in October 2007.
OIL COMPLETES LONGEST RUN OF WEEKLY GAINS SINCE 2004
Futures climbed 0.3 percent after the Labor Department said payrolls rose 157,000 in January and the Institute for Supply Management’s U.S. factory index reached a nine-month high. The Dow Jones Industrial Average gained 1 percent. Brent oil’s premium to crude traded in New York widened because of limits on a pipeline linking the Midwest to the Gulf Coast. West Texas Intermediate oil for March delivery rose 28 cents to settle at $97.77 a barrel on the New York Mercantile Exchange. Trading at 3:21 p.m. was 65 percent above the 100-day average for the time of day. The weekly gain of 2 percent is the eighth in a row, matching a streak that ended in August 2004. (Source: Bloomberg)
Jupiter Securities Research - 4 February 2013
Wednesday, 30 January 2013
Morning Coffee - 31 Jan 2013
MARKET ROUNDUP
U.S. Stocks Fall as Fed Maintains Plan as Economy Shrinks
The S&P 500 fell 0.4 percent to 1,501.96 at 4 p.m. in New York. The Dow Jones Industrial Average lost 44 points, or 0.3 percent, to 13,910.42. Both measures yesterday reached their highest levels since 2007. Gross domestic product, the volume of all goods and services produced, dropped at a 0.1 percent annual rate in the fourth quarter, weaker than any economist forecast in a Bloomberg survey and the worst performance since the second quarter of 2009, when the world’s largest economy was still in the recession. Companies in the U.S. added 192,000 workers in January, data from the Roseland, New Jersey-based ADP Research Institute showed today. The median forecast of 38 economists surveyed by Bloomberg called for an advance of 165,000.
Oil Rises to Four-Month High as Fed Keeps Asset Buying
West Texas Intermediate for March delivery rose 37 cents, or 0.4 percent, to $97.94 a barrel on the New York Mercantile Exchange, the highest settlement since Sept. 14. Prices are up 6.7 percent this month. The Fed asset purchases will remain divided between $40 billion a month of mortgage-backed securities and $45 billion a month of Treasury securities.
Gold Heads for Biggest Gain in 3 Weeks on U.S. GDP Data
After a report showed the U.S. economy unexpectedly shrank in the fourth quarter, boosting demand for the metal as a havenGold futures for April delivery climbed 1.1 percent to settle at $1,681.60 an ounce at 2:01 p.m. on the Comex in New York, the biggest gain for a mostactive contract since Jan. 10. Prices rose as much as 1.3 percent in electronic trading after the Fed’s announcement. (Source: Bloomberg)
Jupiter Securities Research - 31 January 2013
U.S. Stocks Fall as Fed Maintains Plan as Economy Shrinks
The S&P 500 fell 0.4 percent to 1,501.96 at 4 p.m. in New York. The Dow Jones Industrial Average lost 44 points, or 0.3 percent, to 13,910.42. Both measures yesterday reached their highest levels since 2007. Gross domestic product, the volume of all goods and services produced, dropped at a 0.1 percent annual rate in the fourth quarter, weaker than any economist forecast in a Bloomberg survey and the worst performance since the second quarter of 2009, when the world’s largest economy was still in the recession. Companies in the U.S. added 192,000 workers in January, data from the Roseland, New Jersey-based ADP Research Institute showed today. The median forecast of 38 economists surveyed by Bloomberg called for an advance of 165,000.
Oil Rises to Four-Month High as Fed Keeps Asset Buying
West Texas Intermediate for March delivery rose 37 cents, or 0.4 percent, to $97.94 a barrel on the New York Mercantile Exchange, the highest settlement since Sept. 14. Prices are up 6.7 percent this month. The Fed asset purchases will remain divided between $40 billion a month of mortgage-backed securities and $45 billion a month of Treasury securities.
Gold Heads for Biggest Gain in 3 Weeks on U.S. GDP Data
After a report showed the U.S. economy unexpectedly shrank in the fourth quarter, boosting demand for the metal as a havenGold futures for April delivery climbed 1.1 percent to settle at $1,681.60 an ounce at 2:01 p.m. on the Comex in New York, the biggest gain for a mostactive contract since Jan. 10. Prices rose as much as 1.3 percent in electronic trading after the Fed’s announcement. (Source: Bloomberg)
Jupiter Securities Research - 31 January 2013
Tuesday, 29 January 2013
Morning Coffee - 30 Jan 2013
MARKET ROUNDUP
U.S. Stocks Rise as Dow Climbs to 5-Year High on Earnings
The Standard & Poor’s 500 Index rose 0.5 percent to 1,507.84 at 4 p.m. in New York. The Dow added 72.49 points, or 0.5 percent, to 13,954.42, the highest level since October 2007. About 6.9 billion shares traded hands on U.S. exchanges today, or 12 percent above the three-month average. Investors will watch an announcement from the Fed tomorrow to gauge the central bank’s future policy. Chairman Ben S. Bernanke’s latest round of bond buying will reach $1.14 trillion before he ends the program in the first quarter of 2014, according to median estimates in a Bloomberg survey of economists. - Bloomberg
Oil Rises to Four-Month High as Home Prices Advance
Crude oil for March delivery rose $1.13 to $97.57 a barrel on the New York Mercantile Exchange, the highest settlement since Sept. 14. Trading at 4:38 p.m. was 28 percent above the 100-day average for the time of day. Prices were little changed after the American Petroleum Institute reported oil inventories increased 4.16 million barrels last week to 368.2 million. Oil was up 96 cents, or 1 percent, at $97.40 at 4:31 p.m. in electronic trading. The contract traded at $97.45 before the report was released. - Bloomberg
Jupiter Securities Research - 30 January 2013
U.S. Stocks Rise as Dow Climbs to 5-Year High on Earnings
The Standard & Poor’s 500 Index rose 0.5 percent to 1,507.84 at 4 p.m. in New York. The Dow added 72.49 points, or 0.5 percent, to 13,954.42, the highest level since October 2007. About 6.9 billion shares traded hands on U.S. exchanges today, or 12 percent above the three-month average. Investors will watch an announcement from the Fed tomorrow to gauge the central bank’s future policy. Chairman Ben S. Bernanke’s latest round of bond buying will reach $1.14 trillion before he ends the program in the first quarter of 2014, according to median estimates in a Bloomberg survey of economists. - Bloomberg
Oil Rises to Four-Month High as Home Prices Advance
Crude oil for March delivery rose $1.13 to $97.57 a barrel on the New York Mercantile Exchange, the highest settlement since Sept. 14. Trading at 4:38 p.m. was 28 percent above the 100-day average for the time of day. Prices were little changed after the American Petroleum Institute reported oil inventories increased 4.16 million barrels last week to 368.2 million. Oil was up 96 cents, or 1 percent, at $97.40 at 4:31 p.m. in electronic trading. The contract traded at $97.45 before the report was released. - Bloomberg
Jupiter Securities Research - 30 January 2013
Monday, 28 January 2013
Morning Coffee - 29 Jan 2013
MARKET ROUNDUP
U.S. STOCKS FALL AS HOUSING DATA OVERSHADOW DURABLE GOODS
As a drop in pending home sales overshadowed a rise in durable- goods orders while investors watched earnings. The S&P 500 (SPX) fell 0.2 percent to 1,500.18 at 4 p.m. in New York. The equity benchmark closed above 1,500 last week for the first time since December 2007 after an eight-day rally. The Dow Jones Industrial Average lost 14.05 points, or 0.1 percent, to 13,881.93 today. A separate report showed orders for durable goods in the U.S. rose 4.6 percent in December after a 0.7 percent gain the prior month. The median forecast of 76 economists surveyed by Bloomberg called for a 2 percent gain.
Oil Trades Near Four-Month High as OPEC Sees No Price Collapse
After orders for durable goods in the U.S. jumped and OPEC Secretary-General Abdalla El-Badri said crude prices are unlikely to drop this year. Crude for March delivery was at $96.50 a barrel, up 6 cents, in electronic trading on the New York Mercantile Exchange at 10:45 a.m. Sydney time. The average volume of all contracts traded was 50 percent below the 100-day average. Futures rose to $96.44 yesterday, the highest since Sept. 17.
Jupiter Securities Research - 29 January 2013
U.S. STOCKS FALL AS HOUSING DATA OVERSHADOW DURABLE GOODS
As a drop in pending home sales overshadowed a rise in durable- goods orders while investors watched earnings. The S&P 500 (SPX) fell 0.2 percent to 1,500.18 at 4 p.m. in New York. The equity benchmark closed above 1,500 last week for the first time since December 2007 after an eight-day rally. The Dow Jones Industrial Average lost 14.05 points, or 0.1 percent, to 13,881.93 today. A separate report showed orders for durable goods in the U.S. rose 4.6 percent in December after a 0.7 percent gain the prior month. The median forecast of 76 economists surveyed by Bloomberg called for a 2 percent gain.
Oil Trades Near Four-Month High as OPEC Sees No Price Collapse
After orders for durable goods in the U.S. jumped and OPEC Secretary-General Abdalla El-Badri said crude prices are unlikely to drop this year. Crude for March delivery was at $96.50 a barrel, up 6 cents, in electronic trading on the New York Mercantile Exchange at 10:45 a.m. Sydney time. The average volume of all contracts traded was 50 percent below the 100-day average. Futures rose to $96.44 yesterday, the highest since Sept. 17.
Jupiter Securities Research - 29 January 2013
Thursday, 24 January 2013
Morning Coffee - 25 Jan 2013
MARKET ROUNDUP
Most U.S. Stocks Rise as Earnings, Jobs Overshadow Apple
As an unexpected drop in jobless claims and betterthan- forecast earnings offset the worst slump for Apple Inc. (AAPL) in four years. Apple, the world’s most valuable company, slid 12 percent after reporting the slowest profit growth since 2003 and weakest sales increase in 14 quarters. More than four stocks rose for every three that fell on U.S. exchanges as of 4 p.m. in New York. The S&P 500 (SPX) was unchanged at 1,494.82, after rallying as much as 0.5 percent earlier. The Dow Jones Industrial Average gained 46 points, or 0.3 percent, to 13,825.33.
Oil Rises on Improving Data as Brent-WTI Spread Narrows
As the spread between West Texas Intermediate crude in the U.S. and London’s Brent narrowed on speculation the Seaway pipeline will soon resume full shipments. Crude oil for March delivery gained 72 cents to settle at $95.95 a barrel on the New York Mercantile Exchange. Futures were down 3 percent from a year earlier. Volume was 33 percent above the 100-day average. Brent oil for March settlement increased 48 cents, or 0.4 percent, to end the session at $113.28 a barrel on the London- based ICE Futures Europe exchange. Volume was up 14 percent from the 100-day average.
KLCI higher on buying support in blue-chips
The FTSE Bursa Malaysia KLCI (FBMKLCI) added 6.59 points to close at 1,635.25 after hovering between 1,622.54 and 1,637.42 throughout the day. Gainers led losers by 402 to 286 while314 counters were unchanged, 657 untraded and 28 others suspended. Volume fell to 1.16 billion shares worth RM1.67 billion from 1.27 billion shares worth RM2.23 billion on Tuesday. Volume on the Main Market eased to 860.26 million units worth RM1.64 billion from 1.03 billion units worth RM2.21 billion on Tuesday. Turnover on the ACE market strengthened to 266.87 million shares valued at RM28.56 million from 112.43 million shares valued at RM15.17 million on Tuesday.
Jupiter Securities Research - 25 January 2013
Most U.S. Stocks Rise as Earnings, Jobs Overshadow Apple
As an unexpected drop in jobless claims and betterthan- forecast earnings offset the worst slump for Apple Inc. (AAPL) in four years. Apple, the world’s most valuable company, slid 12 percent after reporting the slowest profit growth since 2003 and weakest sales increase in 14 quarters. More than four stocks rose for every three that fell on U.S. exchanges as of 4 p.m. in New York. The S&P 500 (SPX) was unchanged at 1,494.82, after rallying as much as 0.5 percent earlier. The Dow Jones Industrial Average gained 46 points, or 0.3 percent, to 13,825.33.
Oil Rises on Improving Data as Brent-WTI Spread Narrows
As the spread between West Texas Intermediate crude in the U.S. and London’s Brent narrowed on speculation the Seaway pipeline will soon resume full shipments. Crude oil for March delivery gained 72 cents to settle at $95.95 a barrel on the New York Mercantile Exchange. Futures were down 3 percent from a year earlier. Volume was 33 percent above the 100-day average. Brent oil for March settlement increased 48 cents, or 0.4 percent, to end the session at $113.28 a barrel on the London- based ICE Futures Europe exchange. Volume was up 14 percent from the 100-day average.
KLCI higher on buying support in blue-chips
The FTSE Bursa Malaysia KLCI (FBMKLCI) added 6.59 points to close at 1,635.25 after hovering between 1,622.54 and 1,637.42 throughout the day. Gainers led losers by 402 to 286 while314 counters were unchanged, 657 untraded and 28 others suspended. Volume fell to 1.16 billion shares worth RM1.67 billion from 1.27 billion shares worth RM2.23 billion on Tuesday. Volume on the Main Market eased to 860.26 million units worth RM1.64 billion from 1.03 billion units worth RM2.21 billion on Tuesday. Turnover on the ACE market strengthened to 266.87 million shares valued at RM28.56 million from 112.43 million shares valued at RM15.17 million on Tuesday.
Jupiter Securities Research - 25 January 2013
Tuesday, 22 January 2013
Morning Coffee - 23 Jan 2013
MARKET ROUNDUP
U.S. Stocks Advance on Better-Than-Estimated Earnings
The Standard & Poor’s 500 Index (SPX) rose 0.4 percent to 1,492.51 at 4 p.m. in New York. The Dow Jones Industrial Average advanced 62.51 points, or 0.5 percent, to 13,712.21. About 6.2 billion shares changed hands on U.S. exchanges, or about in line with the three-month average. The S&P 500 has risen 4.7 percent in January for the best start to a year since 1997. The benchmark gauge surged to the highest level since December 2007 last week as companies including General Electric Co. and Goldman Sachs Group Inc. reported better-than-estimated earnings. Some 72 percent of the 76 companies in the benchmark index that have released results so far exceeded projections, according to data compiled by Bloomberg.
Home Sales
Sales of U.S. existing homes unexpectedly fell 1 percent to a 4.94 million annual rate last month, figures from the National Association of Realtors showed today in Washington.
Oil Rises as Global Investor Confidence Increases
As German investor confidence climbed more than economists expected and a Bloomberg survey showed that international optimism about equities gained. Crude oil for February delivery rose 68 cents to $96.24 a barrel on the New York Mercantile Exchange, the highest settlement since Sept. 17. February futures expired today. The more-active March contract gained 64 cents to settle at $96.68.
Jupiter Securities Research - 23 January 2013
U.S. Stocks Advance on Better-Than-Estimated Earnings
The Standard & Poor’s 500 Index (SPX) rose 0.4 percent to 1,492.51 at 4 p.m. in New York. The Dow Jones Industrial Average advanced 62.51 points, or 0.5 percent, to 13,712.21. About 6.2 billion shares changed hands on U.S. exchanges, or about in line with the three-month average. The S&P 500 has risen 4.7 percent in January for the best start to a year since 1997. The benchmark gauge surged to the highest level since December 2007 last week as companies including General Electric Co. and Goldman Sachs Group Inc. reported better-than-estimated earnings. Some 72 percent of the 76 companies in the benchmark index that have released results so far exceeded projections, according to data compiled by Bloomberg.
Home Sales
Sales of U.S. existing homes unexpectedly fell 1 percent to a 4.94 million annual rate last month, figures from the National Association of Realtors showed today in Washington.
Oil Rises as Global Investor Confidence Increases
As German investor confidence climbed more than economists expected and a Bloomberg survey showed that international optimism about equities gained. Crude oil for February delivery rose 68 cents to $96.24 a barrel on the New York Mercantile Exchange, the highest settlement since Sept. 17. February futures expired today. The more-active March contract gained 64 cents to settle at $96.68.
Jupiter Securities Research - 23 January 2013
Daily Summary - 23 Jan 2013
YOUR MORNING COFFEE – Wednesday 23/1/2013
SUMMARY
Jupiter Securities Research - 23 January 2013
SUMMARY
- Wall St closed 0.4% higher due to good corporate earnings reports.
- Dow of 13,712, is heading for a test on the resistance of 14,000. RSI of 70, is up.
- DOLLAR INDEX is lower at 78.0. Support is at 79.2.
- Crude oil is higher at USD96.2. Resistance is at 96.6.
- Dollar yen is lower at 88.5 yen. Resistance is at 93.0.
- Euro/dollar is lower at 1.331. Support is at 1.315.
- Gold is higher at USD1692. Support is at 1630.
- Shanghai closed lower at 2315.
- Singapore STI closed lower at 3,219.
- Ringgit is weaker at 3.036. Upside is at 2.99.
- S’pore ringgit is higher at 2.477. Resistance is at 2.487.
- Malaysian market closed lower at 1628. On the Daily chart, the support is at 1610. RSI of 29, is oversold. Today’s range is between 1620 and 1640.
- CPO March futures is higher at RM2444. Support is at 2340.
- Trading :
Jupiter Securities Research - 23 January 2013
Monday, 21 January 2013
Stock Overview - LITRAK - 22 Jan 2013
LITRAK (6645 : 4.36 ) : Take profit
Description
Resistance : 4.40
Support : 4.25
RSI of 65
RSI is on the rise
STOCHASTIC
It is overbought
Comment
On the 6/6/2012 buy call at 4.10, we are recommending to take profit at 4.35 due to overbought technicals
Trading Strategy
Take profit
Jupiter Securities Research - 22 January 2013
Description
Resistance : 4.40
Support : 4.25
RSI of 65
RSI is on the rise
STOCHASTIC
It is overbought
Comment
On the 6/6/2012 buy call at 4.10, we are recommending to take profit at 4.35 due to overbought technicals
Trading Strategy
Take profit
Jupiter Securities Research - 22 January 2013
Daily Summary - 22 Jan 2013
YOUR MORNING COFFEE – Tuesday 22/1/2013
SUMMARY
Jupiter Securities Research - 22 January 2013
SUMMARY
- Wall St closed Monday for Martin Luther King Day. Consumer sentiment index dipped to 71.3. Dow of 13,649, is heading for a test on the resistance of 13,661. RSI of 67, is up.
- DOLLAR INDEX is higher at 80.0. Support is at 79.2.
- Crude oil is higher at USD95.5. Resistance is at 96.6.
- Dollar yen is lower at 89.6 yen. Resistance is at 93.0.
- Euro/dollar is lower at 1.331. Support is at 1.315.
- Gold is higher at USD1688. Support is at 1630.
- Shanghai closed higher at 2328.
- Singapore STI closed higher at 3,221.
- Ringgit is weaker at 3.034. Upside is at 2.99.
- S’pore ringgit is higher at 2.469. Resistance is at 2.487.
- Malaysian market closed lower at 1635. On the Daily chart, the support is at 1616. RSI of 32, is approaching oversold. Today’s range is between 1630 and 1650.
- CPO March futures is higher at RM2401. Support is at 2340.
- Trading : LITRAK (6645 : 4.36 ) : Take profit.
Jupiter Securities Research - 22 January 2013
Sunday, 20 January 2013
Morning Coffee - 21 Jan 2013
MARKET ROUNDUP
Stocks end higher, giving indexes a third straight week of gains; S&P 500 at highest since '07.
General Electric led the Dow Jones industrial average higher after reporting a strong quarter thanks to growth in emerging markets. The Dow rose 53 points to end at 13,649 Friday. The Standard & Poor's 500 index reached another five-year high, rising five points to close at 1,486. Rising stocks outnumbered falling ones two to one on the New York Stock Exchange. Volume was in line with the recent average at 3.7 billion shares
Oil Caps Longest Run of Weekly Gains in 14 Months
As House Republicans planned a vote next week on a three-month extension of the U.S. borrowing authority. West Texas Intermediate crude for February delivery increased to $95.56 a barrel on the New York Mercantile Exchange, the highest settlement since Sept. 17. Prices advanced 2.1 percent since Jan. 11, the sixth weekly gain and the longest streak since November 2011.
Jupiter Securities Research - 21 January 2013
Stocks end higher, giving indexes a third straight week of gains; S&P 500 at highest since '07.
General Electric led the Dow Jones industrial average higher after reporting a strong quarter thanks to growth in emerging markets. The Dow rose 53 points to end at 13,649 Friday. The Standard & Poor's 500 index reached another five-year high, rising five points to close at 1,486. Rising stocks outnumbered falling ones two to one on the New York Stock Exchange. Volume was in line with the recent average at 3.7 billion shares
Oil Caps Longest Run of Weekly Gains in 14 Months
As House Republicans planned a vote next week on a three-month extension of the U.S. borrowing authority. West Texas Intermediate crude for February delivery increased to $95.56 a barrel on the New York Mercantile Exchange, the highest settlement since Sept. 17. Prices advanced 2.1 percent since Jan. 11, the sixth weekly gain and the longest streak since November 2011.
Jupiter Securities Research - 21 January 2013
Stock Overview - QL- 21 Jan 2013
QL (7084 : 3.25 ) : Take profit
Description
Resistance : 3.30
Support : 3.16
RSI of 64
RSI is on the rise
STOCHASTIC
It is overbought
Comment
On the 3/1/2013 buy call at 3.13, we are recommending to take profit at 3.25 due to overbought technicals
Trading Strategy
Take profit
Jupiter Securities Research - 21 January 2013
Description
Resistance : 3.30
Support : 3.16
RSI of 64
RSI is on the rise
STOCHASTIC
It is overbought
Comment
On the 3/1/2013 buy call at 3.13, we are recommending to take profit at 3.25 due to overbought technicals
Trading Strategy
Take profit
Jupiter Securities Research - 21 January 2013
Stock Overview - TRC - 21 Jan 2013
TRC (5054 : 0.62 ) : Take profit
Description
Resistance : 0.65
Support : 0.60
RSI of 70
RSI is overbought
STOCHASTIC
It is overbought
Comment
On the 28/12/2012 buy call at 0.57, we are recommending to take profit at 0.62 due to overbought technicals
Trading Strategy
Take profit
Jupiter Securities Research - 21 January 2013
Description
Resistance : 0.65
Support : 0.60
RSI of 70
RSI is overbought
STOCHASTIC
It is overbought
Comment
On the 28/12/2012 buy call at 0.57, we are recommending to take profit at 0.62 due to overbought technicals
Trading Strategy
Take profit
Jupiter Securities Research - 21 January 2013
Stock Overview - IJMLAND - 21 Jan 2013
IJMLAND (5215 : 2.22 ) : Take profit
Description
Resistance : 2.32
Support : 2.15
RSI of 60
RSI is on the rise
STOCHASTIC
It is overbought
Comment
On the 10/10/2012 buy call at 2.09, we are recommending to take profit at 2.21 due to overbought technicals
Trading Strategy
Take profit
Jupiter Securities Research - 21 January 2013
Description
Resistance : 2.32
Support : 2.15
RSI of 60
RSI is on the rise
STOCHASTIC
It is overbought
Comment
On the 10/10/2012 buy call at 2.09, we are recommending to take profit at 2.21 due to overbought technicals
Trading Strategy
Take profit
Jupiter Securities Research - 21 January 2013
Thursday, 17 January 2013
Daily Summary - 21 Jan 2013
YOUR MORNING COFFEE – Monday 21/1/2013
SUMMARY
Jupiter Securities Research - 21 January 2013
SUMMARY
- Wall St closed 0.4% higher. Market will be closed Monday for Martin Luther King Day. Consumer sentiment index dipped to 71.3.
- Dow of 13,649, is heading for a test on the resistance of 13,661. RSI of 67, is up.
- DOLLAR INDEX is higher at 80.0. Support is at 79.2.
- Crude oil is higher at USD95.5. Resistance is at 96.6.
- Dollar yen is higher at 90.1 yen. Resistance is at 93.0.
- Euro/dollar is lower at 1.331. Support is at 1.315.
- Gold is higher at USD1688. Support is at 1630.
- Shanghai closed higher at 2317.
- Singapore STI closed higher at 3,211.
- Ringgit is weaker at 3.01. Upside is at 2.99.
- S’pore ringgit is lower at 2.456. Support is at 2.450.
- Malaysian market closed lower at 1676. On the Daily chart, the immediate resistance is at 1707. RSI of 54, is neutral. Today’s range is between 1674 and 1684.
- CPO March futures is higher at RM2383. Support is at 2340.
- Trading : QL (7084 : 3.25 ) : Take profit, IJMLAND (5215 : 2.22 ) : Take profit, TRC (5054 : 0.62 ) : Take profit
Jupiter Securities Research - 21 January 2013
Morning Coffee - 18 Jan 2013
MARKET ROUNDUP (Source Bloomberg)
S&P 500 Advances to Five-Year High on Economic Reports; amid better- than-forecast initial jobless claims and housing data. The S&P 500 (SPXL1) rose 0.6 percent to 1,480.94 at 4 p.m. New York time. The Dow Jones Industrial Average added 84.79 points, or 0.6 percent, to 13,596.02. It briefly topped the highest closing level since 2007. About 6.5 billion shares changed hands on U.S. exchanges, 5.2 percent above the three-month average.
Oil Declines From Four-Month High Before China Economic Reports. Crude for February delivery slid as much as 34 cents to $95.15 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.17 at 10:56 a.m. Sydney time. The contract advanced 1.3 percent to $95.49 yesterday. That’s the biggest gain since Jan. 2 and the highest close since Sept. 17. Prices are up 1.7 percent this week for a sixth weekly advance, the longest winning streak since November 2011.
Jupiter Securities Research - 18 January 2013
S&P 500 Advances to Five-Year High on Economic Reports; amid better- than-forecast initial jobless claims and housing data. The S&P 500 (SPXL1) rose 0.6 percent to 1,480.94 at 4 p.m. New York time. The Dow Jones Industrial Average added 84.79 points, or 0.6 percent, to 13,596.02. It briefly topped the highest closing level since 2007. About 6.5 billion shares changed hands on U.S. exchanges, 5.2 percent above the three-month average.
Oil Declines From Four-Month High Before China Economic Reports. Crude for February delivery slid as much as 34 cents to $95.15 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.17 at 10:56 a.m. Sydney time. The contract advanced 1.3 percent to $95.49 yesterday. That’s the biggest gain since Jan. 2 and the highest close since Sept. 17. Prices are up 1.7 percent this week for a sixth weekly advance, the longest winning streak since November 2011.
Jupiter Securities Research - 18 January 2013
Subscribe to:
Posts (Atom)