Daily Morning Note – 9 Dec 2019
WEEKLY MARKET OUTLOOK WEBINAR
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.
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
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.
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.
Webinar Of The Week
Date: 2 December 2019
Phillip Research in 3 minutes: #16- JEP Holdings Ltd
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