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Phillip Capital Morning Note - 24 Apr 2020

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Publish date: Fri, 24 Apr 2020, 09:21 AM
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U.S. stock futures were slightly lower on Thursday night as investors continued to weigh the prospects of a potential coronavirus treatment.

Dow Jones Industrial Average futures were down 67 points, or 0.3%. S&P 500 and Nasdaq 100 futures dipped 0.4% and 0.6%, respectively.

The S&P 500 and Nasdaq Composite closed just below the flatline on Thursday while the Dow eked out a small gain. At their session highs, however, the averages were all up more than 1%.

MAPLETREE Logistics Trust (MLT), releasing its results on Thursday after market close, has declared a distribution per unit (DPU) of 2.048 Singapore cents for the fourth quarter ended March 31, up 1.2 per cent from 2.024 Singapore cents in the year-ago period.

Q&M Dental Group is investing some S$3 million to build a new Covid-19 testing business via a joint venture with scientist Dr Ong Siew Hwa, the company said in a statement Thursday morning.

THE Covid-19 outbreak in China has caused a plunge in first-quarter sales for tenants of malls under CapitaLand Retail China Trust (CRCT), with sales dropping 42.5 per cent year on year.

WEALTH management fintech firm iFAST on Thursday posted a 126.8 per cent rise in net profit to S$3.6 million for its first quarter ended March 31, 2020, from S$1.6 million a year ago.

FRASERS Centrepoint Trust (FCT) on Thursday posted a second-quarter distribution per unit (DPU) of 1.61 Singapore cents, down 48.7 per cent from 3.137 cents a year ago.

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

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