Reuters: Hot Stocks: STOCKS NEWS THAILAND-PTT Global Chemical hits 2-week high on Fed's QE3

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-PTT Global Chemical hits 2-week high on Fed's QE3 Sep 14th 2012, 04:16 Fri Sep 14, 2012 12:16am EDT Shares of PTT Global Chemical surged 4 percent to their highest in two weeks at 64 baht as brokers bet on the company to gain from the launch of further monetary easing by the U.S. Federal Reserve on Thursday. Commodities including gold, copper and oil hit multi-month highs on Friday after the Fed's aggressive moves to stimulate the world's top economy drove expectations of higher global demand for raw materials and a heightened need to hedge inflation risks. KTB Securities recommended 'speculative buy' on PTT Global Chemical and other energy shares that are set to benefit from QE3, saying "shares that will gain from the US' announcement for QE3 will have a bright outlook for short-term investment". KTB gave PTT Global Chemical a target price of 81.50 baht. Krungsri Securities gave 'accumulate' rating on petrochemical shares, and said it expected PTT Global Chemical to gain from a better petrochemical spread in paraxylene and benzene in the third quarter. At 0402 GMT, PTT Global Chemical was up 3.67 percent at 63.50 baht, while the main Thai index rose 1.52 percent. (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com)

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