NST Online Business Times : latest
NST Online Business Times : latest |
| KL shares firm on post CNY trade Posted: 12 Feb 2013 06:12 PM PST Share prices on Bursa Malaysia strengthened in early trading Wednesday, boosted by bullish external sentiments,dealers said. After 10 minutes of trading, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 9.31 points to 1,633.11 after opening 3.66 points higher at 1,627.46. A dealer said the local bourse, which resumed trading today after the long Chinese New Year holidays, emerged stronger as the US stocks regained footing, helped by Malaysia's sharply narrow trade deficit. HwangDBS Vickers Research said the US key indicators, Dow Jones and S&P 500 closed at its five-year high at 0.2 per cent-0.3 per cent in anticipation of President Barack Obama's State of the Union address mixed with favourable results in the earnings season.
"Following that, market activity could gradually pick up towards next week," it said in a statement. The Finance Index jumped 89.601 points to 15,034.24, the Industrial Index gained 16.52 points to 2,798.74 and the Plantation Index perked 51.09 points to 7,949.75. The FBM Emas Index surged 59.68 points to 11.079.34, the FBMT100 was up 60.62 points to 10,938.7, the FBM Mid 70 Index advanced 58.18 points to 11,982.26 and the FBM Ace Index gained 22.58 points to 4,055.31. Gainers outpaced losers by 116 to 20 with 52 counters unchanged, 1,456 untraded and 17 suspended. Volume stood at 22.06 million shares worth RM29.81 million. Among actives, PJI Holdings and Pasukhas earned one sen each to 13.5 sen and 18 sen, respectively, Integrated Rubber added half-a-sen to 20.5 sen, MRCB garnered seven sen to RM1.33 while Ingenuity was unchanged at nine sen. Heavyweights, Maybank and Maxis rose six sen each to RM9.04 and RM6.46, respectively, Sime Darby and CIMB added three sen each to RM9.29 and RM7.21, respectively, and Axiata gained four sen to RM6.30.-- Bernama |
| Kenanga ups target price for SapuraKencana Posted: 12 Feb 2013 06:21 PM PST Kenanga Research raised the target price for SapuraKencana Petroleum Bhd to RM3.82 from RM3.42 after a financing structure was announced for the company's US$2.9 billion purchase of tender-rigs from Seadrill Ltd. "We are tactically raising our target price to accommodate the potential earnings accretion from the new rigs," said Kenanga in a report on Wednesday. Kenanga maintained its 'outperform' call on the stock. SapuraKencana, Malaysia's largest oilfield service provider, will see its debt increase to RM5.7 billion from the acquisition, said Kenanga. The brokerage maintained its earnings forecast for the company, in spite of the higher borrowing costs. Shares of SapuraKencana rose 1.4 per cent to RM2.89 as of 9.44am, while the benchmark index was up 0.54 per cent.--Reuters |
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