Thursday, August 4, 2011

Guinness Anchor up ahead of 2Q results

KUALA LUMPUR: Shares of GUINNESS ANCHOR BHD [] (GAB) advanced at midday on Thursday, Aug 4 ahead of the release of its second quarter results ended June 30 as investors expect the brewer to declare dividends.

At 12.10pm, GAB was up 16 sen to RM10.86 with 49,900 shares done.

The FBM KLCI rose 6.23 points to 1,551.33. Turnover was 594.40 million shares valued at RM613.41 million. There were 363 gainers, 248 losers and 315 stocks unchanged.

Amresearch said in a recent report that stabilising malting barley and hops in the second half of 2011 ' key inputs for brewers ' may also partially offset price surge effects seen in 1H.

'Depending on the magnitude, this could potentially translate into better-than-expected margins in 2012 for Carlsberg Brewery and GAB,' it said.

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