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KUALA LUMPUR: CIMB Equities Research expects Starbucks to continue to be Berjaya Food ’s key growth driver and it expects it to stay on its positive earnings trajectory on the back of a healthy store expansion. The research house said on Monday BFood plans to add 25 to 30 new stores a year. Out of the 25-30 stores, approximately 10 will be allocated as drive-through outlets, which typically fetch higher margins vs.
KUALA LUMPUR: Supermax Corp Bhd , Top Glove Corp Bhd , Berjaya Food Bhd and Ann Joo are among the stocks to watch on Monday, according to JF Apex Research. (1-0)
KUALA LUMPUR: JF Apex expects Berjaya Food , Kimlun, Hibiscus Petroleum and Berjaya Corp to be among the stocks to see trading interests on Monday. (17-0)
ASTRO Malaysia Holdings Bhd’s revenue fell 2.7% year-on-year (y-o-y) in the first quarter of financial year 2018 (Q1FY18) due to lower TV subscription revenue, decline in TV and radio adex, and decrease in licensing income due to the expiry of its sports channel’s sub-licensing agreement.
CIMB Research said although Berjaya Food’s 4QFY4/17 revenue grew 8.9% on-year to RM151.4mil, core net profit was down 49.3% on-year at RM1.6mil.
MarketWrap: US stocks advanced on Thursday, with each of the major US indexes notching record highs, after a batch of economic data suggested the economy was picking up speed. The DJIA rose 135.53 points, or 0.65%, to end at 21,144.18, the S&P 500 gained 18.26 points, or 0.76%, to 2,430.06 and the Nasdaq added 48.31 points, or 0.78%, to 6,246.83. - Reuters Energy Oil prices were mixed on Thursday, with Brent crude down on concerns that key producers were still adding to the global crude glut but US crude up slightly after a larger-than-expected domestic inventory drawdown.
KUALA LUMPUR (March 17): The FBM KLCI pared some of its gains at the midday break today, but was still up some 0.61% in line with the regional markets.
MarketWrap: US stocks slipped on Thursday pressured by healthcare shares as traders cashed in gains from one of the best performing sectors so far this year. The DJIA fell 15.55 points, or 0.07%, to close at 20,934.55, the S&P 500 lost 3.88 points, or 0.16%, to 2,381.38 and the Nasdaq added 0.71 point, or 0.01%, to 5,900.76. - Reuters Energy Oil prices slipped on Thursday, as support from a weaker dollar was offset by US crude inventories near record high levels that again raised concerns whether Opec-led output cuts were starting to drain a global glut.
MarketWrap: US stocks rose sharply on Wednesday after the Federal Reserve raised interest rates for the second time in three months, as expected.- Reuters The DJIA rose 112.73 points, or 0.54%, to 20,950.1, the S&P 500 gained 19.81 points, or 0.84%, to 2,385.26 and the Nasdaq added 43.23 points, or 0.74%, to 5,900.05. Energy Oil prices on Wednesday climbed for the first time in more than a week on a surprise drawdown in US crude inventories and data from the International Energy Agency suggesting Opec cuts could create a crude deficit in the first half of 2017.
European markets ended higher with the expectation of rate hike in the US and amid the election results in the Netherlands.
KUALA LUMPUR (March 16): The FBM KLCI is expected to edge higher on some mild bargain hunting this morning in line with the overnight gains at Wall Street and the recovery in crude oil prices.