Trading ideas: Eco World International, Ranhill Utilities, Rubberex, UMW and Nexgram

KUALA LUMPUR:Stocks that could be in focus on Thursday include Eco World International, Ranhill Utilities, Rubberex, UMW and Nexgram, said Apex Research.

Eco World International Bhd (EWI) reported a net loss of RM56.68 million for the third quarter ended July 31, 2022 (3QFY22).

Ranhill Utilities Bhd has won a RM43 million contract to provide front-end engineering and design services for offshore facilities of the SK10B Lang Lebah development project offshore Sarawak.

Rubberex Corp (M) Bhd's shareholders have approved the proposal to acquire a 100% equity interest in test kit manufacturer Reszon Diagnostics International Sdn Bhd for RM180 million.

UMW Holdings Bhd's automotive sales jumped by 41% month-on-month in August 2022.

Nexgram Holdings Bhd is planning to consolidate every 10 shares into one new share.

Meanwhile, Apex said the FBM KLCI could trend sideways above the support of 1,464 points following the consolidation on Wall Street.

The US market ended slightly higher overnight ahead of a slew of economic data releases such as retail sales, import prices, jobless claims and manufacturing survey.

Earlier, European stocks tumbled after US inflation was higher than expected.

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