Trading ideas: Daya Materials, Gadang, HB Global

KUALA LUMPUR: JF Apex Research expects Daya Materials, Gadang and HB Global to attract trading attention on Friday.
It
said Daya Materials' subsidiary and its partner had secured 49mil euro
(RM198mil) contract for the ventilation system for six new vessels of
the Malaysian navy.
Gadang is venturing into power business by buying 60% of Ikhwan, an Indonesian hydroelectric utility firm for RM3mil.
HB
Global will be suspended from Bursa Malaysia's main market if it does
not submit its audited financial statements before May 8.
Overnight
on Wall Street, US stocks finished near session highs Thursday,
propelling the S&P 500 to a fresh intra-day high, as Wall Street
cheered a better-than-expected jobless claims report and after the European Central Bank cut its key interest rate.
European shares rebounded to a higher close on Thursday, paring losses from when ECB President Mario Draghi confirmed the central bank would not deliver any extra stimulus.
“On
the local exchange, the FBM KLCI closed 4.19 points lower at 1713.46
points after touching an intra-day low of 1,705,” it said, adding the
optimism in Europe could lift the market.
However, it also cautioned that investors could be seeking to reduce their shareholdings before the general elections.