Daily Morning Note – 05 June 2018
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Geo Energy Resources Ltd – Looking forward to a good deal
Recommendation: BUY, Last Done Price: S$0.225
Target Price: S$0.41, Analyst: Chen Guangzhi
– 11mn tonnes of production target is on track
– Cash cost will jump this year
– Remain upbeat on any near-term acquisition
– Maintain BUY call with a lower target price of S$0.41 (previously S$0.47)
Japfa Ltd – Daily timeframe – Bullish
– There was a bullish breakout above the 0.555 immediate range high with
increasing volume on 04/06/18 suggests the resumption of the uptrend.
– Expect price to head higher next to test the 0.615 resistance area followed by
For more information and additional disclosures, refer to the link here.
US trade talks appear to be at ‘a low’ with China and allies. Trade negotiations appear to have gotten even more complicated, as Commerce Secretary Wilbur Ross left China empty handed and Trump gets set to meet an unhappy group of world leaders.
Tech Powers Nasdaq to Record High. U.S. stocks reached the highest since mid-March.
Microsoft Corp. agreed to buy coding site GitHub for $7.5 billion.
OPEC is holding oil production steady even as it debates an increase.
China Revives Its Push to Make the Yuan Go Global.
Starbucks Chairman Howard Schultz will leave the coffee chain later this month, fueling speculation that the billionaire may be mulling a presidential run in the age of celebrity leaders.
Alliance Mineral former CEO and executive director dispose of 37m shares for S$12.6m.
MPA awards $6m of co-funding grants for 2 LNG bunker vessels.
Source: SGX Masnet, Bloomberg, Channel NewsAsia, Reuters, The Business Times, PSR
Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research
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