Friday, February 25, 2011

Blue chips stage mild rebound but off early highs

KUALA LUMPUR: After the heavy selling on Thursday, Feb 24, the FBM KLCI staged a mild technical rebound on Friday, but it was off the early high, reflecting the cautious sentiment among investors.

At 9.27am, the FBM KLCI rose 3.81 points to 1,493.68. Turnover was 141.81 million shares valued at RM134.68 million. There were 257 gainers, 129 losers and 169 stocks unchanged.

YTL rose 12 sen to RM7.18 after posting stronger earnings in the first half ended Dec 31, 2011.

MISC added 12 sen to RM7.57 despite Maybank Investment Bank Research (Maybank IB) had downgraded it to a Hold with a lower target price of RM8.10.

Paramount was the top gainer, adding 42 sen to RM4.93, Far East 30 sen to RM7.40 while Carlsberg rose 26 sen to RM6.56 after announcing its strong earnings and dividends payout. RHB Cap added 12 sen to RM7.92.

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