By Soraya Permatasari
Nov. 10 (Bloomberg) -- Maxis Communications Bhd. agreed to sell shares of its flagship unit, Malaysia’s biggest mobile- phone operator, at 5 ringgit apiece ($1.48), according to three people familiar with the matter.
The people asked not to be identified before a public announcement. The Kuala Lumpur-based company planned to sell
2.25 billion shares of Maxis Bhd. for 5 ringgit to 5.50 ringgit apiece, according to an e-mail from arranger CIMB Investment Bank Bhd. sent to investors yesterday.
Tuesday, November 10, 2009
Breaking News-RTRS-PREVIEW - USDA to trim corn crop, soy still record
CHICAGO, Nov 6 (Reuters) - Persistent rains have lead to the latest harvest in more than 20 years, but the U.S. soybean crop is still expected to be the largest on record and U.S. corn the second largest, analysts said ahead of a government report next week.
The U.S. Agriculture Department is expected to slightly increase its soybean crop estimate and lower its corn estimate when it releases its monthly report at 8:30 a.m. EST (1330 GMT) on Tuesday.
On average, analysts forecast U.S. soybean production at a record 3.262 billion bushels, up from USDA's October forecast for 3.250 billion. The corn crop is pegged at 12.940 billion, below the government's previous forecast for 13.018 billion but still what would be the second-largest crop ever. [ID:nN05438520]
The U.S. Agriculture Department is expected to slightly increase its soybean crop estimate and lower its corn estimate when it releases its monthly report at 8:30 a.m. EST (1330 GMT) on Tuesday.
On average, analysts forecast U.S. soybean production at a record 3.262 billion bushels, up from USDA's October forecast for 3.250 billion. The corn crop is pegged at 12.940 billion, below the government's previous forecast for 13.018 billion but still what would be the second-largest crop ever. [ID:nN05438520]
Trader's Highlight
DJI-NEW YORK, Nov 9 (Reuters) - A broad U.S. stocks rally sent the Dow industrials to a 13-month high on Monday, after the Group of 20 pledged to keep aid flowing to the world economy, strengthening investors' desire for risk.
The Dow Jones industrial average <.DJI> jumped 203.52 points, or 2.03 percent, to 10,226.94. The Standard & Poor's 500 Index <.SPX> rose 23.78 points, or 2.22 percent, to 1,093.08. The Nasdaq Composite Index <.IXIC> gained 41.62 points, or 1.97 percent, to 2,154.06.
NYMEX-NEW YORK, Nov 9 (Reuters) - U.S. crude oil futures ended 2.6 percent higher on Monday, lifted by the weak dollar and on shut-in oil and natural gas production as Tropical Storm Ida approached the Gulf Coast.
Tropical Storm Ida has shut 29.6 percent of oil production and 27.5 percent of gas output from the Gulf of Mexico, the U.S. Minerals Management Service said Monday.
On the New York Mercantile Exchange, December crude rose $2, or 2.58 percent, to settle at $79.43 a barrel, trading from $77.77 to $80.19.
CBOT-SOYBEANS - November up 16-1/4 cents at $9.64-1/4 per bushel; January up 17 at $9.72.
Falling dollar, strong gains in crude oil, gold and equities boost soy futures, countering bearish impact of much better harvest weather in the U.S. Midwest. Strong export inspections number adds support.
CBOT-SOYOIL - December up 1 cent at 37.77 cents per lb. Support from gains in soybeans and crude oil as the dollar falls.
FCPO-JAKARTA, Nov 9 (Reuters) - Malaysian crude palm oil futures rose 0.9 percent on Monday, bouncing back from early losses, supported by talk of a rise in exports and a bullish price outlook from an influential industry analyst, traders said.
There was speculation that an estimate by cargo surveyor Intertek Testing Services (ITS), due out on Tuesday, will show Nov. 1-10 Malaysian palm oil exports at 394,000 tonnes against 339,195 tonnes shipped between Oct.1-10, traders said.
The benchmark January palm oil contract on the Bursa Malaysia Derivatives Exchange rose 20 ringgit to 2,266 ringgit ($670.81) per tonne, after going as low as 2,215 ringgit. Overall volume was about average at 9,955 lots of 25 tonnes each.
REGIONAL EQUITIES-BANGKOK, Nov 9 (Reuters) - Stock indexes in Singapore,
Indonesia and Thailand climbed to their highest in almost two weeks on Monday on buying in resource and commodity companies such as Wilmar International, Astra Agro and PTT.
Singapore's benchmark Straits Times Index <.FTSTI> rose 1.3 percent, with Wilmar, the world's largest listed palm oil producer, jumping 3.2 percent, Noble Group shooting up 6.2 percent and Olam International up 2.8 percent.
Malaysia <.KLSE> hit a two-week high, ending up 0.6 percent, with palm plantation firm IOI Corp surging 4.5 percent and Sime Darby adding 1.1 percent.
The Dow Jones industrial average <.DJI> jumped 203.52 points, or 2.03 percent, to 10,226.94. The Standard & Poor's 500 Index <.SPX> rose 23.78 points, or 2.22 percent, to 1,093.08. The Nasdaq Composite Index <.IXIC> gained 41.62 points, or 1.97 percent, to 2,154.06.
NYMEX-NEW YORK, Nov 9 (Reuters) - U.S. crude oil futures ended 2.6 percent higher on Monday, lifted by the weak dollar and on shut-in oil and natural gas production as Tropical Storm Ida approached the Gulf Coast.
Tropical Storm Ida has shut 29.6 percent of oil production and 27.5 percent of gas output from the Gulf of Mexico, the U.S. Minerals Management Service said Monday.
On the New York Mercantile Exchange, December crude
CBOT-SOYBEANS - November
Falling dollar, strong gains in crude oil, gold and equities boost soy futures, countering bearish impact of much better harvest weather in the U.S. Midwest. Strong export inspections number adds support.
CBOT-SOYOIL - December
FCPO-JAKARTA, Nov 9 (Reuters) - Malaysian crude palm oil futures rose 0.9 percent on Monday, bouncing back from early losses, supported by talk of a rise in exports and a bullish price outlook from an influential industry analyst, traders said.
There was speculation that an estimate by cargo surveyor Intertek Testing Services (ITS), due out on Tuesday, will show Nov. 1-10 Malaysian palm oil exports at 394,000 tonnes against 339,195 tonnes shipped between Oct.1-10, traders said.
The benchmark January palm oil contract
REGIONAL EQUITIES-BANGKOK, Nov 9 (Reuters) - Stock indexes in Singapore,
Indonesia and Thailand climbed to their highest in almost two weeks on Monday on buying in resource and commodity companies such as Wilmar International, Astra Agro and PTT.
Singapore's benchmark Straits Times Index <.FTSTI> rose 1.3 percent, with Wilmar
Malaysia <.KLSE> hit a two-week high, ending up 0.6 percent, with palm plantation firm IOI Corp
FCPO Daily: Slightly improved
Immediate technical landscape improved a little following prices continue to defend at 2200 levels. Thus, a break out from the overhead resistance at 2270-2275 may provide more room to bias upside potential. Next resistance will be looking at 2350. While, downside support is adjusted to 2215-2200 followed by 2180.
DJI Daily: More room to upside potential
A convincing break out from the overhead resistance at 10,200 levels had strengthen further the overall immediate technical landscape. Thus, market may likely to march higher to challenge the next resistance at 10,300-10,500. To the downside, support is pegged at 10,000-9,900.
FKLI Daily: Ends of consolidation phase
Market has come to the end of its consolidation mode following prices hits the new fresh high at 1274.5. Market looks may want to challenge the overhead resistance at 1300-1310 followed by 1314.5-1348 (unfilled gap left over since 4/3/2008). To the downside, support is lies at 1262.5-1258 (gap left over on 6/11/2009) followed by 1230.
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