Daily Morning Note – 15 Nov 2019
WEEKLY MARKET OUTLOOK WEBINAR
The S&P 500 inched higher on Thursday to a record close, but persisting worries around U.S-China trade relations and declines in Cisco Systems and Walmart tempered the excitement around Wall Street.
The broad index closed just 0.1% higher at 3,096.63 as the real estate and material sectors outperformed. The Dow Jones Industrial Average, however, closed marginally lower at 27,781.96 while the Nasdaq Composite dipped 0.04% to 8,479.02.
Oil prices fell on Thursday as U.S. crude futures were pressured by a build in domestic inventories and record production, while forecasts from the Organization of the Petroleum Exporting Countries for a lower-than-expected oil surplus supported Brent.
Concert promoter UnUsUaL Limited’s earnings improved for the second quarter, jumping 54.8 per cent year-on-year to S$5 million, on stronger promotion and production revenue.
Straits Trading Company on Thursday posted a 13.2 per cent drop in net profit to S$12.2 million for its third quarter ended Sept 30, due to a halving in earnings from its real estate segment, despite a more profitable resources division.
SINGTEL posted its first quarterly loss on Thursday with a S$668 million net loss in the second quarter, against profit of S$667 million before, on its S$1.93 billion pre-tax share of Bharti Airtel’s provision for the past dues.
UOB Kay Hian Holdings on Thursday posted a 14.7 per cent increase in net profit to S$20.3 million for its third quarter ended Sept 30, as higher trading volume and retail participation across its main regional markets boosted turnover.
Consumer group Fraser and Neave (F&N) on Thursday posted a 23.5 per cent increase in net profit to S$152.6 million for FY19, due to higher contributions from its beverages and dairies segments.
Sembcorp Industries on Thursday posted a 13 per cent decline in net profit for the third quarter ended Sept 30, as higher finance costs mainly arising from its marine and energy businesses took a toll on the bottomline.
Hong Leong Asia on Thursday announced third-quarter net profit rose 9.2 per cent to S$3.4 million, even as gross profit declined, as lower profit was attributed to non-controlling interests.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
China life insurance Co Ltd
Recommended Action: Technical BUY
China life insurance Co Ltd (HK: 2628) may have a last reversal before resuming its bullish trend based on the technicals.
Webinar Of The Week
Market Outlook: : (PSR) Hyphens Pharma, Uunited Overseas Bank Limited (UOB), CapitaLand Mall Trust, Frasers Centrepoint Trust, Sheing Siong Group, Phillip SG Weekly, US Weekly, US Banking & Technical Analysis
Date: 04 November 2019
Phillip Research in 3 minutes: #16- JEP Holdings Ltd
|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.|
|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.|