NST Online Business Times : latest
NST Online Business Times : latest |
| Posted: 14 Feb 2013 06:04 PM PST Share prices on Bursa Malaysia opened lower Friday on the absence of market leads, dealers said. At 9.20 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.59 points lower at 1,625.94 after opening 1.56 points better at 1,632.45. HwangDBS Vickers Research said continuing from yesterday's momentum, the benchmark FBM KLCI is expected to range-bound with a negative bias. "On the chart, the key market barometer is facing stiff resistance at 1,635, with its immediate support line currently seen at 1,615," it said in a research note.
The FBM Emas Index fell 30.87 points to 11,055, the FBMT100 was down 32.4 points at 10,906, the FBM Mid 70 Index dwindled 31.979 points to 12,017.03, while the FBM Ace Index shed 2.14 points to 4,067.93. Losers outpaced gainers 105 to 69, with 108 counters unchanged, 1,361 untraded and 16 others were suspended. Volume stood at 55 million shares worth RM52.25 million. Among actives, Kumpulan Hartanah lost six sen to 62.5 sen, while Astral Supreme, Borneo Oil, Takaso Resources and DVM Technology earned half-a-sen each to 20 sen, 39.5 sen, 19.5 sen and 11.5 sen, respectively. Heavyweights, Maybank lost five sen to RM8.93, Sime Darby shed two sen to RM9.22, while Axiata, CIMB and Petronas Chemicals slipped one sen each to RM6.29, RM7.15 and RM6.14, respectively.-- Bernama |
| US stocks flat despite big M&A deals Posted: 14 Feb 2013 04:20 PM PST NEW YORK: US stocks traded flat Thursday despite the excitement from two giant M&A deals, the merger of American Airlines and US Airways, and Berkshire Hathaway and 3G's takeover of ketchup maker Heinz. Analysts said the markets were partly echoing the slump in European markets on dismal economic growth reports from eurozone countries, as well as Japan. Outstanding concerns about Europe were "exacerbated by a larger-than-expected contraction for the eurozone economy," said a note from Charles Schwab & Co. At the close, the Dow Jones Industrial Average was down 9.52 points (0.07 per cent) at 13,973.39.
US Airways shares fell 4.6 per cent after the official announcement of its long-awaited merger with American Airlines, creating the largest US carrier. American parent AMR Corp, under bankruptcy reorganisation, jumped 63.1 per cent. Heinz shares soared nearly 20 per cent to US$72.50 after the shock announcement that billionaire Warren Buffett's investment firm would partner with 3G Capital to buy Heinz in a US$28 billion deal offering shareholders US$72.50 a share. Berkshire's B shares finished up 1.3 per cent. Other food companies also gained on the news, including General Mills, which rose 3.1 per cent and Kraft Food Group, which jumped 0.8 per cent. Shares of Belgian-US giant Anheuser-Busch InBev, whose US$20.1 billion takeover of Mexican brewer Grupo Modelo has been challenged by US antitrust regulators, jumped 5.1 per cent after the two companies said they would divest specific Modelo assets to please the regulators. Distributor Constellation Brands, the main beneficiary of the divestments, rose 37.2 per cent. General Motors reported higher year-on-year earnings but still fell 3.2 per cent after the profits came in below expectations amid losses in Europe. Cisco Systems reported earnings that bested expectations, but gave up 0.7 per cent following company comments that the European market remained difficult. PepsiCo picked up 1.1 per cent after reporting a 17 rise in year-over-year earnings. Oil services firms Halliburton and Schlumberger picked up 6.1 per cent and 3.7 per cent respectively, while independent energy producer Apache fell 4.7 per cent on property writedowns. Telecommunications and cloud infrastructure company CenturyLink tumbled 22.3 per cent after announcing it would cut its dividend. Specialty food chain Whole Foods Market slipped 9.7 per cent after it pointed to higher expenses and said profits would be lower in subsequent quarters compared with the first quarter. -- AFP |
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