Daily Morning Note – 15 April 2019
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YOUR PHILLIP SUMMARY
US Stocks rose on Friday after a slew of positive corporate news that included strong bank earnings and Disney unveiling a new streaming service.
Gold steadied on Friday en route to its first weekly gain in three weeks as the dollar weakened although the metal’s advances were capped by stronger equities.
Oil prices rose on Friday as involuntary supply cuts from Venezuela and Iran plus conflict in Libya supported perceptions of a tightening crude market, while upbeat Chinese economic data eased concerns about waning crude demand.
Disney announced that its streaming service Disney+ will launch Nov. 12 for $6.99 per month, which will focus on family programming.
Huawei is “open” to selling high-speed 5G chips and other silicon to rival smartphone vendors including one of its top competitors Apple.
KEPPEL Infrastructure Holdings’ wholly owned subsidiary Keppel Gas has completed its first liquefied natural gas (LNG) cargo import under Singapore’s spot import policy, which allows gas customers in the Republic to import up to 10 per cent of their annual long-term contracted LNG intake on a spot cargo basis.
ASIAN Pay Television Trust (APTT) on Monday said it is undergoing an independent strategic review of options available for the trust and its investment in Taiwan Broadband Communications Group (TBC).
Singapore Technologies Engineering’s US subsidiary Vision Technologies Aerospace Incorporated obtained clearance from a US government committee to buy Maryland-based engine nacelle systems manufacturer MRA Systems.
A consortium, comprising Heeton Holdings, KSH Holdings and Ho Lee Group, has snapped up the Crowne Plaza London Kensington hotel for £84.3 million (S$148.9 million).
United Industrial Corp (UIC) is buying out Finnegan Investments and Mackmoor, as well as mainboard-listed OUE. Marina Mandarin Singapore and parts of the Marina Square complex are changing hands for S$675.3 million. The whole Marina Square mall will then be owned jointly by UIC and parent UOL Group.
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
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