NST Online Business Times : latest
NST Online Business Times : latest |
| MIDF cuts Hartalega to 'neutral' Posted: 06 Nov 2012 05:50 PM PST MIDF Research downgraded Hartalega Holdings Bhd, the world's top synthetic glove maker, to a "neutral" from "buy" after shares of the company reached an all-time high. "The stock has increased significantly in the last few months, appreciating 65.7 percent year-to-date and is currently trading at its highest level. At this juncture, we believe there is limited upside potential for price appreciation in the near term," said MIDF in a report on Wednesday. It maintained a target price of RM5.10 for the stock. The stock was buoyed by the company's improved earnings for the first half of 2013 financial year. Revenue rose 12 percent to RM502.7 million, while net profit rose 10.9 percent to RM111.9 million, according to MIDF. |
| Posted: 06 Nov 2012 06:38 PM PST Share prices on Bursa Malaysia extended losses for the third consecutive day Wednesday, despite advances seen on Wall As at 9.40 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.91 points lower at 1,647.45 after opening at 1,649.36. US stocks posted strong performance for the second consecutive day as the country went to the US presidential election to elect between Barack Obama and Mitt Romney for the president. On the local front, the Finance Index fell 3.27 points to 15,012.06, while the FBM Ace Index rose 13.72 points to 4,288.46 and the FBM Mid 70 Index added 17.56 points to 12,414.24. The Industrial Index shed 3.38 points to 2,851.33, the FBM Emas Index declined 13.22 points to 11,254.88, the FBMT100 slipped 12.88 points to 11,090.15 and the Plantation Index fell 8.48 points to 8,132.91. Gainers led losers 170 to 104, with 204 counters unchanged and 1,165 untraded. Volume stood at 172.846 million shares worth RM116.917 million. For the actives, Sycal Ventures earned one sen to 21 sen, while Niche Capital lost two sen to 16 sen. Among heavyweights, Maybank, Sime Darby, CIMB and Petronas Chemicals were flat at RM9.04, RM9.75, RM7.71 and RM6.45, respectively. Bernama |
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