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Ideas
Macro
The IMF is preparing a 600b euro (US$794b) loan for Italy in case the country’s debt crisis worsens, La Stampa (an Italian newspaper) reported, without saying where it got the information. US stock futures and the EUR surged after the news
Comment: Such unverified "noise" can be dangerous. Markets may surge very short-term and tumble back later in the day when there is further verification of authencity of information. Only trade on such information if you are prepared to exit intraday when the situation turns around. To get the quickest update on this, please call me
Property
Capitaland (C31) continues to bet on China with 30k residential units in the pipeline in as of 2011
Comment: Considering the not so positive situation of the Chinese developers themselves, this may not have been the best of moves Cland has taken. This may account for the decline in their share price amid the current situation when we compare them with Kland and Citydev
Update 930am
Sakari (AJ1) may see some negative sentiments, after the collapse of the public Kutai Karanegara suspension bridge over the Mahakam River on Saturday. While Co has announced that at this point in time, no formal exports of the damage have been confirmed, and they are currently still ascertaining the impact on its Jembayan operations. Production is for now still continuing as usual in Jembayan.
Note that any disruption to the transportation of Jembayan coals could potentially weigh on 4Q11 results, with Jembayan currently contributing abt 85.2% of grp’s total sales vol, based on 3Q11 results
Sources: Bloomberg, Reuters, WSJ, The Business Times, Analyst Reports, Company Announcements
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