Trading ideas: Eita Resources, MMC, Leweko

  • Business
  • Wednesday, 07 Mar 2018

KUALA LUMPUR: JF Apex Research expect EITA RESOURCES BHD, MMC Corp Bhd and LEWEKO RESOURCES BHD to attract trading interest today following their latest corporate news.

Eita Resources has secured three contracts totalling RM126.19mil for the supply of lifts and escalators for the Light Rail Transit Line 3 (LRT3) project.

MMC Corp, through its indirect wholly-owned subsidiary Northport (Malaysia) Bhd, has received a 30-year extension for its concession to operate Northport and Southpoint in Port Klang, Selangor.

Leweko Resources has secured a subcontract worth RM11.68mil for the supply of ultra-high performance fibre reinforced concrete (UHPFRC) beams for a section of the Setiawangsa-Pantai Expressway (Duke Phase 3).

Meanwhile, US markets ended slightly positive after erasing intraday losses following speculation that economic adviser Gary Cohn could resign from Trump's administration.

The S&P 500 advanced 0.3%, to 2728.12, while the Dow Jones Industrial Average ticked up 9.36 points, or 0.04%, to 24,884.12.

Earlier, European stocks edged higher despite concerns on Italy's election outcome and potential US trade war.

“Following the uncertainty in the US and Europe, the FBM KLCI is expected to hover sideways above the support of 1,840 points,” JF Apex said.

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