MARKET WATCH 13 DEC 2012

13-Dec 2012 Thursday 10:35 AM (4153 days ago)

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STI 3,142 +24 +0.76% DOW 13,245 -3 -0.03% S&P 1,428 +0 +0.01% FTSE 5,946 +21 +0.35% DAX 7,615 +25 +0.33% GOLD 1,709 -9 -0.52% OIL 86.69 -0.08 -0.09% PRE-HK OPEN +30pts CREDIT SUISSE GLOBAL RISK APPETITE (EQUITY): 2.10 (11 Dec 2012) CREDIT SUISSE GLOBAL RISK APPETITE : 2.93 (11 Dec 2012) I REALLY LIKE THE UOB 5th DEC 2012 REPORT ON POSSIBLE PRIVATISATION PLAYS 13 Dec 2012 09:01 DJ Fraser & Neave Names J.P. Morgan Adviser on OUE Takeover Offer By Chun Han Wong SINGAPORE--Fraser & Neave Ltd. (F99.SG) has appointed J.P. Morgan to advise on a $10.6 billion takeover offer from Overseas Union Enterprise Ltd. (LJ3.SG). Fraser & Neave's independent directors will issue a recommendation on the bid to shareholders by Dec. 20, after receiving advice from J.P. Morgan, the company said in a statement late Wednesday. OUE is a Singapore-based property developer owned by Indonesia's Riady family. It is offering 9.08 Singapore dollars ($7.44) for each Fraser & Neave share it doesn't own, topping the S$8.88/share offer by companies linked to Thai tycoon Charoen Sirivadhanabhakdi. Fraser & Neave is a Singaporean real-estate and soft-drinks company, which recently parted ways with its most visible asset--a joint venture with Heineken N.V. (HEIA.AE) brewing Tiger beer. Mr. Charoen owns about 34.7% of Fraser & Neave through entities Thai Beverage PCL (Y92.SG) and unlisted TCC Assets. His offer expires Jan. 2. OUE is making its offer with investment funds and accounts managed by Farallon Capital Management LLC and Noonday Global Management Ltd. It also has the support of Japan's Kirin Holdings Co. (2503.TO), the second-largest shareholder in Fraser & Neave with a 14.77% stake. OUE and its partners hold a 14.81% stake. Their offer expires Jan. 3. 13 Dec 2012 08:55 DJ MARKET TALK:Singapore Shares May See Sluggish Start;3150 Cap-OCBC 0055 GMT [Dow Jones] Singapore shares may have a sluggish start after a bullish run in recent weeks, as some profit-taking sets in, analysts say. The STI gained 0.7% to 3141.57 Wednesday, its highest close since Aug. 2. "Last night's Christmas present from Santa-look alike Bernanke was well telegraphed and had little long-lasting impact," says Jason Hughes, head of premium client management at IG Markets, who notes that global markets had rallied in the lead up to the Fed announcement. OCBC analyst Carey Wong say the STI "could be in for profit-taking" after the index's strong run, while Bernanke's announcement was also somewhat priced in. "The sidelines are pretty flushed but they are seeking trading opportunities and not buying for the long term," Wong adds, tipping 3150 as resistance for the index, with 3120 as support. Keppel Corp. (BN4.SG) should draw attention after getting a US$420 million deal to build two jack-up rigs for Petroleos Mexicanos.

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13-Dec 2012 Thursday 10:40 AM (4153 days ago)

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13-Dec 2012 Thursday 10:40 AM (4153 days ago)

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13-Dec 2012 Thursday 10:41 AM (4153 days ago)

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13-Dec 2012 Thursday 10:42 AM (4153 days ago)

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UOBKH: Retail Market Monitor: Thursday, December 13, 2012



Hutchison Port Holdings Trust (HPHT SP, NS8U) – Technical SELL with +9.7% potential return Last price: US$0.775 Resistance: US$0.815 Support: US$0.70 SELL with a target price of US$0.70. Prices appear unable to close the gap that was created on 25 Oct 12 and the second failed attempt to close the gap was accompanied with a bearish engulfing candlestick pattern. Its indicators appear to be turning down, with the MACD indicator looking poised to break below its centreline as its Stochastics indicator has formed a bearish crossover. Stops could be placed at above US$0.815.

This message was edited by stand up n wake up on 13-Dec-2012 @ 10:44 AM

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13-Dec 2012 Thursday 10:50 AM (4153 days ago)

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13-Dec 2012 Thursday 10:52 AM (4153 days ago)

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MARKET PULSE: Petra Foods, Far East Hospitality (13 Dec 2012)



MARKET PULSE: Petra Foods, Far East Hospitality 13 Dec 2012 KEY IDEA Petra Foods: Pure EM Asia consumer player Petra Foods is now a leaner company focused on emerging Asia consumer demand after surprising the market by divesting its Cocoa Ingredients division to Barry Callebaut for US$950m. With an essentially debt-free balance sheet and US$300m war-chest, Petra will look to continue its dominance in its key markets of Indonesia and the Philippines. We like this development and raise our projections according to factor in a higher growth rate in improved margins from a pure Branded Consumer operation. As a result, our valuation increases to S$3.57 (maintaining our 25x 12-month forward PE). Maintain BUY. (Lim Siyi) MORE REPORTS Far East Hospitality Trust: Proposed acquisition of Rendezvous Grand Hotel In Nov, Far East Hospitality Trust (Far East H-Trust) and Astor Properties Pte. Ltd., a member of the Far East Organization group (the sponsor) entered into a non-binding memorandum of understanding with The Straits Trading Company Limited to acquire Rendezvous Grand Hotel Singapore and its retail component Rendezvous Gallery Singapore. Far East H-Trust also entered into a separate non-binding MOU with the sponsor to grant a master lease of the hotel component to the Sponsor as master lessee under a master lease agreement. We have not incorporated the proposed transactions into our model since no definitive agreements have been executed. Rolling forward our model to FY13F, and using more conservative capitalization rates given a more cautious outlook for tourism in 1H13, we reduce our RNAV-based fair value from S$1.08 to S$1.02, and downgrade FEHT from Buy to a HOLD. (Sarah Ong) For more information on the above, visit`www.ocbcresearch.comfor`the detailed report. NEWS HEADLINES - US stocks were little changed on Wed after Fed chairman Ben Bernanke warned that it could not shield the economy from the impact of the fiscal cliff, despite taking further measures to stimulate spending and investment. Both the Dow and the S&P 500 Index ended flat, at 13,245.45 and 1,428.48, respectively, while the Nasdaq finished 0.3% higher at 3,013.81. - Medi-Flex Ltd reported 1Q13 PATMI of MYR5.2m, or 3.8 times the MYR1.4m it earned a year ago, supported by a 7% increase in revenue to MYR43.6m. Its gross profit margin doubled to 12%, due to higher sales volume, improved product mix, favourable raw material prices and improved production efficiency. - Datapulse Technology's 1Q13 PATMI rose 31% YoY to S$4.1m, despite an 8% drop in revenue to S$21.5m, as operating expenses fell by even more. Sales were hurt by weaker demand for media storage products and services. - Hong Fok Corp has established a S$300m medium term note programme that will allow it to sell debt of various maturities in various currencies to raise funds for general corporate purposes such as refinancing existing debt and financing capital spending.

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13-Dec 2012 Thursday 10:54 AM (4153 days ago)

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USA : U.S. Stocks Erase Gain as Optimism About Fed Stimulus Plan Fades : Bloomberg



(BN) U.S. Stocks Erase Gain as Optimism About Fed Stimulus Plan Fades +------------------------------------------------------------------------------+ U.S. Stocks Erase Gain as Optimism About Fed Stimulus Plan Fades 2012-12-12 22:07:15.929 GMT By Lu Wang and Inyoung Hwang Dec. 12 (Bloomberg) -- U.S. stocks erased gains as optimism about Federal Reserve plans to buy more bonds faded, with investor focus returning to the budget deadlock in Washington. Berkshire Hathaway Inc. climbed 2.4 percent after lifting the threshold it will pay for stock, signaling Chief Executive Officer Warren Buffett views the shares as undervalued. DuPont Co. advanced 1.4 percent as the chemical maker announced a share buyback and said 2012 earnings will be at the high end of forecasts. Eli Lilly & Co. sank 3.2 percent after saying it’s conducting an added study for an experimental Alzheimer’s drug. The Standard & Poor’s 500 Index rose less than 0.1 percent to 1,428.48 in New York, erasing an earlier rally of as much as 0.8 percent. The Dow Jones Industrial Average slipped 2.99 points, or less than 0.1 percent, to 13,245.45. More than 6.6 billion shares changed hands on U.S. exchanges, or 6.3 percent above the three-month average, according to data compiled by Bloomberg. “Traders have been poking holes in some of the Fed comments,” Michael James, a managing director of equity trading at Wedbush Securities Inc. in Los Angeles, said in an e-mail. “Nothing hugely ‘negative,’ just reason to be doing some selling with the strength we’ve had in the last couple days. Markets are very thin right now and subject to bigger swings this week.” Stocks rallied after the central bank said it will buy $45 billion a month of Treasury securities starting in January, in addition to $40 billion a month of mortgage-debt purchases, as part of its effort to stimulate the economy. Asset buying will continue “if the outlook for the labor market does not improve substantially,” the Federal Open Market Committee said today at the conclusion of a two-day meeting in Washington. Fiscal Cliff The rally faded as Fed Chairman Ben S. Bernanke said monetary stimulus cannot offset the full effect of the so-called fiscal cliff of automatic tax increases and budget cuts set to go into effect next year. President Barack Obama is seeking a deal with Republican lawmakers to avoid the fiscal cliff, lowering his demand for tax increases in the budget to $1.4 trillion from $1.6 trillion yesterday. House Speaker John Boehner said today that Obama’s revenue demand can’t pass the House or the Senate. Democrats and Republicans remain divided on taxes and spending, as well as on whether an agreement should include an increase in the debt limit and further programs to boost the economy. “People finally realized that we still have the fiscal cliff waiting in the wings,” Thomas Garcia, head of equity trading at Santa Fe, New Mexico-based Thornburg Investment Management Inc., said in an e-mail. His firm oversees about $80 billion. What the Fed “said in the minutes should be bullish for equities,” he said. Election Day The S&P 500 has erased its losses since Election Day, advancing 0.9 percent so far this month to give the benchmark index a 14 percent rally for 2012. Its average gain for December is 1.5 percent, the highest of any month except July, according to data dating back to 1928 compiled by Bloomberg. The stock market may also get a year-end boost from a so-called Santa Claus rally -- an upswing in the last five days of the year and the first two in January, according to the Stock Trader’s Almanac. The S&P 500 will surpass its record to reach 1,580 at the end of next year, according to Thomas Lee, chief U.S. equity strategist at JPMorgan Chase & Co. His forecast is 0.9 percent higher than the benchmark equity measure’s all-time high of 1,565.15 and 11 percent above its closing level yesterday. Stocks will rally as investors get clarity on political concerns in the U.S. and Europe, an acceleration in durable goods spending lifts price-earnings multiples and earnings growth picks up, according to New York-based Lee in a note dated today. Biggest Gains Phone, financial and energy companies had the biggest gains among 10 industry groups, adding at least 0.4 percent. Technology, consumer staples and material stocks posted the largest losses, falling more than 0.2 percent each. Berkshire climbed 2.4 percent to $89.32. The company said it will pay as much as 120 percent of book value, a measure of assets minus liabilities for stock buybacks. The limit was 110 percent. Buffett, 82, and Vice Chairman Charles Munger have been weighing buybacks as the company seeks to deploy part of its $47.8 billion cash hoard. Berkshire last year began a buyback program after shunning repurchases for four decades. DuPont climbed 1.4 percent to $44.30. The biggest U.S. chemical maker by market value said 2012 earnings will reach the upper end of the company’s forecast and it will spend as much as $1 billion to repurchase shares. Earnings excluding one-time items will approach $3.30 a share this year and increase by the “low- to mid-single digits” for 2013, DuPont said. Aetna Rises Aetna Inc. rose 3.2 percent to $45.91. The third-biggest U.S. health insurer by membership said earnings excluding one- time items in 2013 will be at least $5.40 a share, while revenue will rise about 9 percent to $38.6 billion. The forecasts “should be good enough given low expectations, Chris Rigg, an analyst with Susquehanna Financial Group, wrote in a note. Nasdaq OMX Group Inc. jumped 3.8 percent to $24.31. The second-largest U.S. equity exchange agreed to buy Thomson Reuters Corp. units that provide investor and public relations and multimedia services for $390 million in cash as it seeks to diversify. Homebuilders Rally An S&P index of homebuilders surged 3.5 percent as Mortgage Bankers Association’s index of applications rose 6.2 percent last week and the group’s purchase measure reached the highest level in a year. D.R. Horton Inc. increased 3.5 percent to $19.21 while Lennar Corp. advanced 4 percent to $37.87. Dolby Laboratories Inc. added 2.4 percent to $35. The audio-technology company whose products are used in cinemas, announced a special one-time dividend of $4 a share. Eli Lilly sank 3.2 percent to $49. The company said it will conduct an additional late-stage study of its experimental Alzheimer’s treatment solanezumab, a move that could push the drug’s introduction back three years to 2016. Lilly said it doesn’t believe it has enough data to gain U.S. marketing clearance for the medicine, based on conversations with the Food and Drug Administration. For Related News and Information: Developed Markets View: DMMV <GO> World stock indexes: WEI <GO> Most-active U.S. stocks: MOST US <GO> U.S. stock market map: IMAP US <GO> Top stories on stocks: TOP STK <GO> Stories on U.S. stocks: NI USS <GO> Feature stories: TNI USS FEA <GO> Equity screening: EQS <GO> Graphing: GRAPH <GO> Equity derivatives: EDRV <GO> Stories on U.S. stock options: NI USO <GO> --With assistance from Francine Lacqua in London and Tom Stoukas in Athens. Editor: Jeff Sutherland To contact the reporters on this story: Inyoung Hwang in New York at +1-212-617-6289 or [email protected]; Lu Wang in New York at +1-212-617-2564 or [email protected] To contact the editor responsible for this story: Lynn Thomasson at +1-212-617-0506 or [email protected]

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13-Dec 2012 Thursday 10:59 AM (4153 days ago)

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13-Dec 2012 Thursday 11:02 AM (4153 days ago)

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13-Dec 2012 Thursday 11:03 AM (4153 days ago)

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