Trading ideas: Lafarge Malaysia, SLP Resources, MISC, Maxis - Lafarge Malaysia, SLP Resources, MISC Bhd and Maxis Bhd are among the stocks to watch on Monday, according to JF Apex Research.
Lafarge Malaysia said a fire broke out at its integrated cement plant in Rawang, Selangor on Friday. The cause of the incident and extent of its damage are currently being worked out.
SLP Resources's 3QFY17 net profit has fallen 45% year-on-year due to squeezed margins after a change in sales mix and also a one-off corporate exercise expense in relation to a private placement and bonus issue undertaken by the company during the quarter.
MISC’s 3QFY17 net profit surged fivefold year-on-year driven by higher earnings from its liquefied natural gas, petroleum and offshore divisions.
Maxis chief executive officer Morten Lundal will be leaving the company upon the expiry of his contract on March 31 next year.
Additionally, JF Apex said technology and property counters which are having major operations in Penang could see their productions and sales affected following weekend’s massive floods.
Meanwhile, U.S. equities closed at record highs on Friday on the back of a sharp rally in Apple shares. Qualcomm also jumped as Broadcom considers acquiring the chipmaker.
Similarly, the European markets closed provisionally higher, up almost 3%, with most sectors and major bourses in positive territory.
“We expect the local benchmark index to trade sideways below its immediate resistance level of 1,750 points,” JF Apex said.
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