Trading ideas: Oil and gas, IOI Corp, Malton, Gabungan AQRS
KUALA LUMPUR: JF Apex Research expects oil and gas counters, IOI Corp and property compannies Malton and Gabungan AQRS to attract trading interest on Tuesday.
The research house said Petronas would be reviewing its capex allocation in view of the declining global crude oil prices.
As for plantation heavyweight IOI Corp, the group posted lower-than-expected results in the first quarter ended Sept 30, 2014.
Malton’s net profit more than tripled on-year to RM15mil in the first quarter ended Sept 30, 2014 on back of higher revenue and gains on disposal of land parcels.
JF Apex Research pointed out Gabungan AQRS’s 3Q net earnings soared 141% on-year thanks to higher contributions from property and construction divisions.
Overnight on Wall Street, US market was little changed with the S&P 500 at another record close of the year whilst European shares clinched higher after ECB President Mario Draghi reiterated that he was willing to do more, which entails the bond purchase, to stimulate Euro zone economy if necessary.
At Bursa Malaysia, the FBM KLCI lost 7.31 points or 0.40% to settle at 1,806.48.
“The benchmark index is expected to poise for a rebound with some bargain hunting activities but still struggling to breach our immediate resistance of 1,830 due to overall weak market sentiment and lack of fresh leads,” said JF Apex Research. - The Star
KUALA LUMPUR: JF Apex Research expects oil and gas counters, IOI Corp and property compannies Malton and Gabungan AQRS to attract trading interest on Tuesday.
The research house said Petronas would be reviewing its capex allocation in view of the declining global crude oil prices.
As for plantation heavyweight IOI Corp, the group posted lower-than-expected results in the first quarter ended Sept 30, 2014.
Malton’s net profit more than tripled on-year to RM15mil in the first quarter ended Sept 30, 2014 on back of higher revenue and gains on disposal of land parcels.
JF Apex Research pointed out Gabungan AQRS’s 3Q net earnings soared 141% on-year thanks to higher contributions from property and construction divisions.
Overnight on Wall Street, US market was little changed with the S&P 500 at another record close of the year whilst European shares clinched higher after ECB President Mario Draghi reiterated that he was willing to do more, which entails the bond purchase, to stimulate Euro zone economy if necessary.
At Bursa Malaysia, the FBM KLCI lost 7.31 points or 0.40% to settle at 1,806.48.
“The benchmark index is expected to poise for a rebound with some bargain hunting activities but still struggling to breach our immediate resistance of 1,830 due to overall weak market sentiment and lack of fresh leads,” said JF Apex Research. - The Star
