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Author: traderhub8   |   Latest post: Thu, 12 Dec 2019, 11:39 AM


Phillip Capital Morning Note

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The Dow Jones Industrial Average jumped 443.86 points to 25,883.25 as J.P. Morgan Chase and Goldman Sachs outperformed. The S&P 500 gained 1.1 percent to close at 2,775.60, led by the energy and industrials sectors. The Nasdaq Composite advanced 0.6 percent to end the day at 7,472.41.

Iran's foreign minister on Sunday accused Israel of looking for war and warned that its actions and those of the United States were increasing the chances of a clash in the region.

Starting this year, U.S companies are required to record the cost of renting assets used in their operations, such as office space, equipment, planes and cars, on their balance sheets rather than bury that expense in the footnotes of their financial statements, thanks to a new accounting standard now in effect -- U.S. public companies are committed to a total of $3 trillion in operating leases.

British Prime Minister Theresa May is to hold Brexit talks with European Commission President Jean-Claude Juncker next week, her office said on Saturday.

Hundreds of passengers throughout Europe have been stranded by the abrupt collapse of the British regional airline Flybmi. British Midland Regional Limited, which operates as Flybmi, said it's filing for administration because of higher fuel costs and uncertainty caused by Britain's upcoming departure from the European Union.

KEPPEL Corporation's and Singapore Press Holdings' joint offer for telco M1 has turned unconditional after acceptances and shares owned by the offer vehicle crossed the 50 per cent mark of the company's maximum potential share capital. The period for accepting the S$2.06-a share offer will now be extended till 5.30pm on March 4.

A portfolio of 23 hotels, mostly under the Fragrance brand, is up for sale by Global Premium Hotels (GPH) at an indicative price of S$1.4 billion. They have been on the market since the second half of last year.

Cromwell European Reit (E-Reit) has acquired a logistics property located in France for 6.9 million euros (S$10.58 million) and three office assets in Poland for 69.38 million euros.

Singapore O&G (SOG), recorded a dip in net profit for the fourth quarter ended Dec 31 to S$23,200 from S$2 million a year ago, dragged down by a goodwill impairment of S$2.8 million, relating to the excess of the carrying amount of the cash-generating unit (CGU) over the recoverable amount of the CGU as at Dec 31 of the Dermatology segment.

Source: Phillip Capital Research - 18 Feb 2019

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