Reuters: Hot Stocks: STOCKS NEWS THAILAND-Maybank Kim Eng sees limited risks to energy sector

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS THAILAND-Maybank Kim Eng sees limited risks to energy sector Sep 12th 2012, 04:12 Wed Sep 12, 2012 12:12am EDT Refinery shares are set to take benefit from the upcoming US central bank meeting if a new stimulus measure is put in place, Maybank Kim Eng Securities said in a research note. "Despite a weak world economic outlook, crude oil prices have remained flat, supported by the debt solution plans of the European Central Bank and Federal Open Market Committee, which have helped limit downside risks on crude oil prices," Maybank said. "We believe foreign investors and local institutions will return to speculate on the sectors once again on their third quarter earnings, compounded by window dressing at the end of September," it added. The broker expects refinery earnings will turnaround in the third quarter with high quarter-on-quarter growth, while naming Thai Oil Pcl as one of its share picks in the sector. It expects an increase of $7 billion to $8 billion baht in Thai Oil's third-quarter net profit, a turnaround from the 6.903 billion baht ($222.03 million) loss in the second quarter. At 0353 GMT, Thai Oil shares were up 1.87 percent at 68 baht, having hit 68.50 baht earlier, while the broader energy index gained 0.7 percent. Esso led among refinery shares with a 2.86 percent gain, followed by a 2.46 percent rise in PTT Global Chemical , while Bangchak Petroleum rose 1.72 percent and IRPC remained flat. 1053 (0353 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) ($1 = 31.09 Baht) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions