Daily Morning Note – 1 July 2019

WEEKLY MARKET OUTLOOK WEBINAR

Register HERE for MONDAY’s 11.15am webinar.

Archived webinars available.

YOUR PHILLIP SUMMARY

Stock indexes on Friday recorded modest gains ahead of much-anticipated meeting between President Donald Trump and Chinese President Xi Jinping to resolve trade differences. The Dow Jones Industrial Average DJIA, +0.28% finished the session up 73 points, or 0.3%, at 26,599, notching a 7.2% monthly gain, and a producing a 3.4% rise for the quarter and a 14% advance over the first half of 2019. The blue-chip index’s June return was its best since 1938, according to Dow Jones Market Data. The S&P 500 index SPX, +0.58% closed 0.6% higher at 2,941, notching a 6.9% rise for the month, its best June since 1955, with a 4.5% quarterly rise and a 17.4% climb in the first six months of the year, while the Nasdaq Composite Index COMP, +0.48% rose 0.5% to end at 8,006, gaining 7.4% in June, the best such gain since 2000, ringing up a 4.4% quarterly return and a 21% advance so far this year.


TECHNICAL PULSE

Vicom Ltd

Recommended Action: Technical BUY

Vicom technical factors point to another bullish rally



RESEARCH REPORT

Eli Lilly and Company – Favourable growth with diabetic and pipeline drugs

Analyst: Edmund Xue

– Diabetic drugs remain the key driver for LLY.

– Healthy late-stage pipelines will provide more opportunities for LLY.

– Robust growth in core product categories (endocrinology and immunology)
and favourable late-stage drug pipeline will ensure strong margin growth for
LLY.

BREAKING NEWS

North Korea on Monday described the weekend meeting between its leader Kim Jong Un and US President Donald Trump in the Demilitarized Zone as “historic” and “amazing”.

Opec and its allies look set to extend oil supply cuts next week at least until the end of 2019 as Iraq joined top producers Saudi Arabia and Russia on Sunday in endorsing a policy aimed at propping up the price of crude amid a weakening global economy.

SIZEABLE mainboard listings are expected on the Singapore Exchange (SGX) in the second half of the year, with the companies coming from the service sectors,said Deloitte. But this is subject to market performance and geo-political factors that will impact the economy.

Ayondo’s business development officer and product officer leave, ID retires.

CapitaLand will mark a new milestone on July 1 as it has completed the acquisition of Ascendas-Singbridge and will start operating as a unified entity.

SUSPENDED Ezion Holdings has reorganised its senior management team to strengthen the overall management structure, as the ailing mainboard-listed offshore and marine group struggles to stay afloat in an oil price slump that has paralysed the industry.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR

Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research

Read the research report(s), available through the link(s) above, for complete information including important disclosures Important Information





Disclaimer
The information contained in this email and/or its attachment(s) is provided to you for information only and is not intended to or nor will it create/induce the creation of any binding legal relations. The information or opinions provided in this email do not constitute an investment advice, an offer or solicitation to subscribe for, purchase or sell the e investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of this information. Investments are subject to investment risks including possible loss of the principal amount invested. The value of the product and the income from them may fall as well as rise. You may wish to seek advice from an independent financial adviser before making a commitment to purchase or investing in the investment product(s) mentioned herein. In the event that you choose not to do so, you should consider whether the investment product(s) mentioned herein is suitable for you. PhillipCapital and any of its members will not, in any event, be liable to you for any direct/indirect or any other damages of any kind arising from or in connection with your reliance on any information in and/or materials attached to this email. The information and/or materials provided “as is” without warranty of any kind, either express or implied. In particular, no warranty regarding accuracy or fitness for a purpose is given in connection with such information and materials.
Confidentiality Note
This e-mail and its attachment(s) may contain privileged or confidential information, which is intended only for the use of the recipient(s) named above. If you have received this message in error, please notify the sender immediately and delete all copies of it. If you are not the intended recipient, you must not read, use, copy, store, disseminate and/or disclose to any person this email and any of its attachment(s). PhillipCapital and its members will not accept legal responsibility for the contents of this message. Thank you for your cooperation.