Trading ideas: Velesto Energy, Cycle & Carriage Bintang, MAHB, IHH, Press Metal, PB, KSL, DRB-Hicom, Sime Darby Property

KUALA LUMPUR: Stocks to watch for on Friday include Velesto Energy, Cycle & Carriage Bintang, MAHB, IHH< Press Metal, PB, KSL, DRB-Hicom, Sime Darby Property and others with recent earnings announcements, according to JF Apex Research.

Velesto Energy Bhd after it won a work order for up to RM60 million from Petronas Carigali Sdn Bhd.

Jardine Cycle & Carriage Ltd said its stake in Cycle & Carriage Bintang Bhd rose to 94.78% after its takeover offer ended on Thursday, paving the way for the latter’s delisting.

Companies with improved corporate earnings include Malaysia Airports Holdings, IHH Healthcare, Press Metal Aluminium Holdings, PPB Group, KSL, DRB-Hicom, Sime Darby Property, 7-Eleven Malaysia Holdings, Tomei Consolidated, Petron Malaysia Refining & Marketing, YTL Corp, YTL Power International, HIL Industries, Oriental Holdings, Thong Guan Industries, Wah Seong Corp, UEM Edgenta, Genting Bhd and Genting Malaysia Bhd.

Companies with lower quarterly performance were Malayan Banking, MBSB, Careplus Group, Can-One, Berjaya Land, and Malayan Flour Mills.

Meanwhile, JF Apex said the FBM KLCI could extend its bullish momentum towards the resistance of 1,510 points following the recent rebound.

The US market surged overnight following investor optimism ahead of the Federal Reserve chairperson's speech at the Jackson Hole symposium.

Similarly, European stocks were positive after Germany's GDP was revised upwards.

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