Overnight Markets Highlights (19 May 2017, Friday)

Overnight Markets Highlights (19 May 2017, Friday)

US Market :
U.S. stocks closed higher on Thursday, recovering from their worst day of 2017, as investors assessed President Donald Trump’s chances of moving forward with his pro-growth agenda.

Europe Market :
European stocks closed lower on Thursday as mounting political uncertainty in the U.S. exacerbated concerns among investors as to whether President Donald Trump would be able to deliver on key pro-growth policies.

Precious Metal :
Gold eased on Thursday as a bounce in the dollar prompted some buyers to cash in gains after its biggest one-day rally in nearly a year, though uncertainty over the outlook for the Trump presidency underpinned the metal near two-week highs.

Crude Oil :
Oil prices rose on Thursday in a volatile session on growing signs that key oil producers will adhere to production cuts at next week’s OPEC meeting amidst a persistent .

Indices & Commodities :
DJIA: 20,663.02 (+56.09)
S&P500: 2,365.72 (+8.69)
NASDAQ: 6,055.13 (+43.89)
DAX: 12,590.06 (-41.55)
FTSE: 7,436.42 (-67.05)
EuroStoxx50: 3,562.38 (-22.45)
Comex Gold: 1,252.8 (-5.9)
Comex Copper: 2.5315 (-.0150)
WTI Crude Oil: 49.66 (+.25)
Crude Oil: 52.51 (+.30)

Economic Events :
2.00PM – EUR German PPI
5.00PM – EUR ECB’s Praets Speaks
6.00PM – GBP CBI Industrial Trends Orders
8.00PM – EUR ECB’s Constancio Speaks
8.30PM – CAD Core Retail Sales, Core CPI
9.15PM – USD FOMC Member Bullard Speaks
1.00AM – USD US Baker Hughes Oil Rig Counts

FX & Bonds :
USD/MYR – 4.328
EUR/USD – 1.110
GBP/MYR – 5.602
AUD/MYR – 3.209
SGD/MYR – 3.107
Msia 10 yr Yield – 3.88%

18/5/2017 Bursa Trade Stat :
Retail (21.6%) – net BUY 66.5mil
Institution (52.5%) – net SELL 54.7mil
Foreign (25.9%) – net SELL 11.8mil
Total traded value 2640.5mil
Corporate News Roundup

1⃣ TAMBUN will launch 2 new landed residential property projects with a combined GDV of RM122.7m, in its Pearl City township development in Penang by mid-2017.

2⃣SILK is planning to undertake a dividend reinvestment plan and purchase of up to 10% of its issued share capital.

Financial Result Highlight

  • PETDAG closed its 1QFY17 with better net profit, up 15.4% to RM253.15m, on higher average selling price, despite lower sales volume.
  • PMETAL’s net profit jump 56.6% to RM148.05m in 1QFY17, mainly due to higher production output generated by its Samalaju Phase 2 smelting plant in and improved metal price.
  • JCY reported a net profit of RM15.41m in its 2QFY17, compared with a net loss of RM6.43m a year ago, due to favourable to ringgit exchange rate in the current reporting period.
  • CENTURY posted a 9% rise in net profit to RM4.85m in 1QFY17, on higher contribution from its total logistics services segment.
  • TOMYPAK saw its net profit for its 1QFY17 surge 78.3% to RM6.26m, on higher demand from both its local and overseas customers, improved production cost, and lower losses.

Sources: theedgemarkets.com ; thestar.com.my

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