Morning Market Brief (11-10-2017)

11 October 2017, Wednesday 🙂

US Market :
U.S. stocks rose to record highs on Tuesday after Wal-Mart announced a large buyback and Honeywell said it was splitting into two. Pfizer also contemplated a spin-off as Corporate looked for ways to keep investors happy and keep this eight-year bull market going.

Europe Market :
Europe finished under slight pressure Tuesday, as ongoing political uncertainty in Spain outweighed seen in oil and individual stock news.

Precious Metal Gold :
Gold touched its highest in nearly two weeks on Tuesday, supported by a softer dollar and geopolitical tensions in Spain and North Korea, though gains were capped by expectations of another U.S. interest rate increase.



Crude Oil :
Oil prices were on pace to post their best day in two weeks on Tuesday after Saudi Arabia said it would cut in November, while a big chunk of U.S. offshore production remained offline.

Indices & Commodities :
DJIA: 22,830.68 (+69.61)
S&P500: 2,550.64 (+5.91)
NASDAQ: 6,587.25 (+7.52)
DAX: 12,949.25 (-27.15)
FTSE: 7,538.27 (+30.38)
EuroStoxx50: 3,597.86 (-12.64)
Comex Gold: 1,293.8 (+8.8)
Comex Copper: 3.0605 (+.0295)
WTI Crude Oil: 50.92 (+1.34)
Crude Oil: 56.61 (+.82)
BMD FKLI: 1759.5 (-4.0)
BMD FCPO: 2695 (-40)

Economic Events :
Tentative – USD OPEC Monthly Report
8.30AM – AUD Westpac Consumer Sentiment (Oct)
3.00PM – EUR Spanish CPI (YoY) (Sep), Spanish HICP (YoY) (Sep)
3.45PM – EUR French Non-Farm Payrolls (QoQ) (Q3)
10.00PM – USD JOLTs Job Openings (Aug)
1.00AM – USD 10-Year Note Auction
2.00AM – USD FOMC Meeting Minutes
4.35AM – USD API Weekly Crude Oil Stock
7.01AM – GBP RICS House Price Balance (Sep)

FX & Bonds :
USD/MYR – 4.219
EUR/USD – 1.181
GBP/MYR – 5.571
AUD/MYR – 3.283
SGD/MYR – 3.111
Msia 10 yr Yield – 3.90%

10/10/2017 Bursa Trade Stat :
Retail (25.81%) – net SELL 19.35mil
Institution (54.82%) – net SELL 0.69mil
Foreign (19.37%) – net BUY 20.04mil
Total traded value 1649.45mil

*CORPORATE NEWS*

• * Airports Holdings Bhd* (MAHB) posted a 4.7% year-on-year growth in traffic in September this year, with combined volume of 10.8 million in all its airports including Istanbul Sabiha Gokcen International Airport (Istanbul SGIA).

• *Muhibbah Engineering (M) Bhd* won a RM168 million contract to carry out infrastructure works for the Kertih Biopolymer Park in .



• The RM130 million contract awarded to *AWC Bhd* by the federal government to maintain the Integrated Transport Terminal in Bandar Tasik Selatan (BTS) has been terminated after over one year of deference.

• *Ireka Corp Bhd* bagged a RM60.75 million contract to conduct refurbishment and improvement works for two hospital blocks at Pantai Hospital Kuala Lumpur.

• *KNM Group Bhd* has secured utility contractor China Western Power Industrial Co Ltd (CWPI) as the long-awaited financier for the first phase of its Green Energy Project power plant in Peterborough, UK.

• *Mega First Corp Bhd* secured a US$150 million (RM634.88 million) to part-finance the construction of the Don Sahong hydropower project in Laos.

• *PRG Holdings Bhd* is set to develop its first affordable housing development in Ipoh, Perak with Syarikat Perumahan Negara Bhd (SPNB) once it has acquired the parcels of land there for the remaining sum of RM8.63 million.

• Loss-making *TH Heavy Engineering Bhd* said its oil and gas fabrication unit has once again been barred by Petroliam Nasional Bhd (Petronas) from various job scopes due to its “non-performance” in a Sabah project, this time without a specified timeline.

_Source from_: www.theedgemarkets.com

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