Daily SGX Market News by EPIC RESEARCH 7th February 2014

Open
2,972.98  
Previous Close
2,960.09  
Year To Date
-5.62%  
1-Year
-6.17%
Day Range
2,972.40 – 2,994.48  
52-Week Range
2953.01-3464.79

January PMIs surprised on the upside. Overall  manufacturing PMI reverted back to expansion (50.5) after a brief dip into contraction territory (49.7) in the  previous month. In addition, electronics PMI staged a  strong showing, posting a reading of 52.0, up from  50.1 previously. The increase in the inventory index  also suggests some degree of restocking in  anticipation of higher demand. This is further  reinforced by the fact that stocks of finished goods are  declining as manufacturers have been running down  on existing stockpile.
 
Mencast Holdings (MCAST) has acquired S&W and  S&W Process Equipment, which are companies that  manufacture and repair heat exchanges.The  acquisitions are seen to deliver clear synergies for the  company, particularly with its offshore engineering  and energy divisions, according to OSK-DMG and  leading the research firm to raise its earnings  estimates for FY14/15F.

BUY CITY DEVELOPMENT LTD ABOVE 9.030 TG 9.100,  9.180, 9.280 SL 8.930

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