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Trading ideas: Fraser & Neave, Unisem


KUALA LUMPUR: Fraser & Neave Holdings Bhd (F&N) and Unisem (M) Bhd are among the the stocks to watch following their latest quarterly results, according to JF Apex Research.


F&N’s third quarter net profit jumped 51% year-on-year due to cost savings under its Malaysian operation and favourable input and packaging material costs for its Thai operation.


Its net profit jumped 51% to RM104.5mil in the third quarter, from RM69.37mil a year earlier.


Unisem's 2QFY18 net profit slipped 26% year-on-year attributable to the unfavourable forex coupled with lower profit margins arising from change in product mix.  


Net profit at Unisem fell 27% to RM31mil in the second quarter ended June 30, as revenue dropped 6% to RM343mil.


Meanwhile, US markets ended mixed with the S&P and Nasdaq rising as Apple shares hit record high while the Dow closed flat.


Earlier, European stocks tumbled after the Bank of England raised interest rates.


“Following the overnight mixed performance in the US and Europe, the FBM KLCI could hover sideways below the resistance level of 1,800 points,” JF Apex said.


Analyst Reports , F N , Unisem

   

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