STRONG sentiment in the oil and gas sector has spilled over to petroleum retailers like Petronas Dagangan, which put on 40 sen, or 7.21%, to RM5.95 yesterday in brisk trading. An analyst said the company's earnings were at an all-time high due to falling crude oil prices and strengthening of the ringgit. “The outlook is good and the company has plenty of room to grow,” he said.
SP Setia stock was among the day's top gainers, rising 40 sen, or 5.84%, to RM7.25 on anticipation of the property developer's potential gains following the disposal of commercial land in Johor Baru for RM106.97mil. “This would generate cash flow and working capital for the group,” an analyst said.
KULIM shares touched a 12-month high of RM7.70 during intra-day trading before finishing 40 sen lower at RM7.10 on mild profit taking, a dealer said. “Investors are still bullish on plantation stocks,” he said, adding that some were shifting their focus from big-cap plantation firms to smaller ones such as Kulim.
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