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Author: traderhub8   |   Latest post: Mon, 17 Feb 2020, 4:33 PM


Phillip Capital Morning Note - 18 Jun 2019

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European stock markets closed marginally lower on Monday with a profit warning from Germany's Lufthansa hitting airline stocks, while markets globally awaited clues from the US Federal Reserve on its policy direction.

Wall Street stocks advanced Monday ahead of a highly-anticipated Federal Reserve meeting, with a big gain in Facebook boosting the Nasdaq. Wall Street stocks were mostly higher early Monday as investors looked ahead to a US Federal Reserve meeting this week and the Group of 20 summit later in the month.

Singapore's Straits Times Index (STI) closed at 3,207.99, easing 14.64 points or 0.5 per cent.

FRASERS Centrepoint Trust (FCT) has completed its preferential offering. It received valid acceptances and excess applications of under 56.73 million for new units for its preferential offering, instead of over 56.74 million units at the close of the preferential offering on June 10, 2019, its manager said on Monday evening.

SEMBCORP Industries plans to subscribe to additional shares and inject new equity in its India energy arm Sembcorp Energy India Limited (SEIL), in a bid to support the growth of its India renewable energy business.

TT International gave on Monday notice of three years of consecutive losses. On Friday, its independent auditors announced on Friday night that the existence of material uncertainties may cast significant doubt about the group's ability to continue as a going concern.

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

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