Malaysia's Felda Global Ventures posts 35% rise in profit

Felda Global Ventures, the world's third-largest palm plantation operator, reported a 35 per cent rise in second-quarter earnings, supported by stronger crude palm oil production following moves to boost fruit yields.

The Malaysian firm's net profit rose to RM62.2 million (S$21 million) in the quarter ended June from RM46.1 million in the same period last year.

Revenue eased slightly to RM4.14 billion from RM4.19 billion the previous year.

"Rising commodity prices have provided optimism to the plantation's earnings outlook and we are in a good position to take advantage of the general tightness in supply," Felda Global chief executive Zakaria Arshad said in a statement.

Palm oil output is facing a production squeeze this year due to the ongoing effects of a crop damaging El Nino weather event, which brings hot, dry weather to Southeast Asia and lowers fruit yields.
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Europe: Stocks climb at open

European stock markets rose at the start of trading on Thursday, with London's benchmark FTSE 100 index rising 0.2 per cent to 6,873.24 points.

In the eurozone, Frankfurt's DAX 30 won 0.7 per cent to 10,613.08 points and the CAC 40 in Paris gained 0.5 per cent to open at 4,441.20 compared with the close on Wednesday.

The start was in contrast to Tokyo, whose main index slumped Thursday as fading expectations of an imminent Federal Reserve rate hike sparked a rally in the yen against the dollar, hitting exporters including Toyota and Nissan.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Dow, S&P 500 close lower as oil prices drop

The Dow Jones Industrial Average and S&P 500 Index closed lower Monday as oil prices slipped, while the Nasdaq Composite Index finished at its highest level in more than a year. The Dow industrials closed down 27.73 points, or 0.2%, at 18,404.51, weighed by more than 3% drops in shares of Exxon Mobil Corp. and Chevron Corp. The S&P 500 declined 2.76 points, or 0.1%, at 2,170.84, as the energy sector dropped 3.3%. Oil prices settled down 3.7% at $40.06 a barrel. The Nasdaq rose 22.06 points, or 0.4%, to close at 5,184.20, its highest close since July 21, 2015.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter :http://www.twitter.com/epicresearchsg Like Us On Facebook :http://www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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Epic Research Singapore : Market Closing Update

Tokyo (Nikkei Average) flat (closed)
Hong Kong (Hang Seng Index) up 0.3% (closed)
Shanghai (Shanghai Composite Index) down 0.3% (closed)
Sydney (S&P/ASX 200) up 0.6% (closed)
Seoul (Kospi) flat  (closed)
Taipei (Taiex) up 0.2% (closed)
 

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Epic Research Singapore : Sgx Singapore Closing News Update

Singapore shares ended lower on Wednesday with the Straits Times Index slipping 31.97 points to 3,097.43.

Some 2.04 billion shares, valued at S$1.13 billion were traded. Gainers numbered 179 while losers numbered 261.



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