ABN Newswire Stocks to Watch: March 26, 2010
ABN Newswire stocks to watch today include: Brickworks Limited (ASX:BKW), Bandanna Energy Limited (ASX:BND) and Fufeng Group Limited (HKG:0546).
Companies in the News
Food & Beverage
Fufeng Group (HKG:0546) Research By Piper Jaffray
Fufeng's FY09 net profit rose 215% YoY to Rmb928mil, 6% and 9% above market consensus and our expectation, respectively. We raise our FY10E-11E earnings estimates by 12%-20% on higher sales volume assumptions, which could offset the impact of lower ASPs and profit margins.
Asian Markets Overview of March 25, 2010: Tokyo Gas (TYO:9531) to Invest in Energy World's (ASX:EWC) Indonesian Project
US shares overnight declined, led by telecommunications sector. Sprint Nextel officially unveiled a new mobile phone able to tap into super-high speeds. Sprint Nextel rallied but all other telecom fell on competitive worries. Portugal's credit rating downgrade also weighed on the US market. Most Asian markets posted modest gains Wednesday. Japan's Nikkei index was up 0.4. China's Shanghai Composite and Hong Kong's Heng Seng Index advanced 0.1 per cent each, helped by strong corporate earnings reports. South Korea's Kospi slightly declined by 0.05 per cent.
Fufeng Group (HKG:0546) Announces its Record High Annual Results And Profit Attributable to Shareholders Increased 2.15 times to RMB 928.3 Million
Fufeng Group Limited ("Fufeng" or "the Company", together with its subsidiaries collectively known as "the Group"; HKG:0546), a leading vertically integrated manufacturer of corn-based biochemical products in China, today announces its record high annual results for the year ended 31 December 2009.
Asian Markets Overview of March 5, 2010
Friday Asian stocks received a positive lead from Wall Street. US stocks overnight posted a slim gain, supported by better-than-expected retail sales data and analyst upgrades of a batch of blue-chip companies. Yesterday most Asian markets closed lower on renewed worries about China's policy tightening. Hong Kong's Hang Seng Index slid 1.4 per cent, while Shanghai Composite lost 2.4 per cent, with China's banking and property shares dropping sharply. Singapore market was also impacted by China's property bubble concerns, and Straits Times slid 0.5 per cent. Japan's Nikkei 225 was off 1.1 per cent as strong yen hurt exporters.
Australian Market Report of February 25: Lower Metals Prices Hit Resources Giants
The Australian share market fell sharply Wednesday after led by mining giants BHP Billiton and Rio Tinto as metals prices dropped. The benchmark S&P/ASX200 index ended down 69.8 points, or 1.5 per cent, at 4648.5, while the broader All Ordinaries index lost 65.1 points, or 1.4 per cent, to 4665.9.
Fufeng Group (HKG:0546) Joins The Hang Seng Composite Index
Fufeng Group Limited (HKG:0546), a leading vertically integrated manufacturer of corn-based biochemical products in China, today announced that Fufeng has been selected as a constituent of Hang Seng Composite Index (HSCI), effective 8 March 2010.
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