Daily Morning Note – 9 Dec 2019

WEEKLY MARKET OUTLOOK WEBINAR

PHILLIP SUMMARY

A stronger-than-expected November U.S. jobs report sent stocks soaring Friday, with the Dow Jones Industrial Average rallying over 300 points intraday on word that the economy added 266,000 jobs last month, mainly in education and manufacturing. Economists polled by Dow Jones expected closer to 187,000 nonfarm payroll additions.
Economic and market professionals largely see the results as yet another catalyst for the U.S. stock market’s record bull run.

BREAKING NEWS

MAINBOARD-LISTED Forise International commented(EHT) that its chief executive officer (CEO) resigned four months into the job because he and the board could not agree on his remuneration.

TRITECH Group has dropped its proposed share placement after taking into consideration the volatility of its share price, among other factors.The Catalist-listed high-technology oriented engineering products and services company said in a regulatory filing on Dec 7 that it has scrapped the proposal to place out up to 110,824,743 new ordinary shares.

FINTECH company ayondo Ltd has recognised a gain of 49.8 million Swiss francs (S$68.5 million) in the third quarter to September, as a result of deconsolidation of its subsidiary ayondo Holdings AG (AHAG). But it is in a negative equity position with current liabilities of 2.3 million Swiss francs.

IReit Global has partnered with Tikehau Capital to enter the Spanish market with an acquisition of four freehold office buildings in Madrid and Barcelona.

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

TECHNICAL PULSE

City Development Ltd

Recommended Action: Technical BUY

The technicals for City Development (SGX: C09) suggest that the stock’s bullish trend is still going strong.

Read more technical reports

RESEARCH REPORTS

Frasers Industrial and Commercial Trusts Merger – Credit Commentary

Credit View, analyst – Timothy Ang

The acquisition of Frasers Commercial Trust (FCOT) by Frasers Logistics & Industrial Trust (FLT) into an enlarged entity was recently announced on 2 December 2019.

– What this means for FPLSP bondholders.

– What this means for FCOTSP bondholders.


Read more research reports

Webinar Of The Week

Market Outlook: : (PSR) ThaiBev, CapitaLand, SG Weekly and Technicals (STI, UOB & DJIA)

Date: 2 December 2019

For more on Market Outlook

Phillip Research in 3 minutes: #16- JEP Holdings Ltd

Updates summarised in 3 minutes

For more videos on Phillip in 3 Mins

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.