Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


Hot Stocks PPB, KLK lead rise in plantation stocks after Mistry’s CPO price forecast

Bursa Community :: Community News

Go down

Hot Stocks PPB, KLK lead rise in plantation stocks after Mistry’s CPO price forecast Empty Hot Stocks PPB, KLK lead rise in plantation stocks after Mistry’s CPO price forecast

Post by Cals Tue 25 Mar 2014, 00:39

Hot Stocks PPB, KLK lead rise in plantation stocks after Mistry’s CPO price forecast
Business & Markets 2014
Written by Jeffrey Tan of theedgemalaysia.com   
Monday, 24 March 2014 13:18

KUALA LUMPUR (Mar 24): Plantation counters made substantial gains today after leading analyst Dorab Mistry said palm oil prices could rise faster than expected and hit 3,000 ringgit per tonne in April.

At 12.08 pm today, PPB Group Bhd rose 20 sen or 1.23% to RM16.40. The fourth top gainer saw trades of 198,600 shares done.

Kuala Lumpur Kepong Bhd (KLK) was the ninth top gainer that saw 147,200 shares changed hands. It gained 16 sen or 0.7% to RM23.86.

Felda Global Ventures Holdings Bhd, United Plantations Bhd and IOI Corporation Bhd were also among the gainers.

On Bursa Malaysia, the plantation index rose 64.03 points or 0.72% to 8,903.19 points. It had earlier hit a high of 8,912.68 points.

Similarly, CPO futures rose across the board. June 2014 contract rose RM23 or 0.8% to RM2,752 per tonne after hitting a high of RM2,756 earlier.   

Mistry said prices should get a further boost as there is now a bigger likelihood of the crop-damaging El Nino developing from June-July onwards, Reuters reported last week.

"This is therefore a powerful bullish factor which is likely to kick-in about 3 months from now," said Mistry, who heads the vegetable oil trading arm at India's Godrej Industries, in Beijing.
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum