KUALA LUMPUR (Dec 6): The FBM KLCI could trend higher on Tuesday in line with European markets that opened higher on Monday on optimism that European leaders would find a solution to the eurozone debt crisis at a summit a later this week.
The positive mood in Europe looks set to add to the glow from last week's U.S. jobs data with stock index futures pointing to a higher open for equities on Wall Street, according to Reuters.
Market sentiment was given an early boost on Monday after Italy unveiled a 30-billion-euro package of austerity steps, and the Irish government too said it would do the something similar in a new budget to be announced later in the day, it said.
On Bursa Malaysia, stocks that could be in focus include PROTON HOLDINGS BHD [], TRC SYNERGY BHD [], SAPURACREST PETROLEUM BHD [] and HIAP TECK VENTURE BHD [].
Proton shares, which were actively traded on Monday, could continue to attract investor attention after The Edge weekly reported over the weekend that state investment arm Khazanah Nasional Bhd was likely to ask for proposals from interested parties for its stake in the carmaker.
Citing industry sources, The Edge said Khazanah had made overtures and put out feelers to the market, seeking proposals from existing car players on a business plan with regard to Proton.
Khazanah is the largest shareholder with a 42.74% stake in Proton. Proton surged 89 sen on Monday to RM4.50 with 20.1 million shares traded.
Meanwhile, TRC Synergy secured a contract worth RM38.1 million from Putrajaya Holdings Sdn Bhd to build 86 two-storey terrace houses and 14 two storey semi-detached houses in Precint 14, Putrajaya.
SapuraCrest Petroleum Bhd's net profit for the third quarter ended Oct 31, 2010 rose 51.6% to RM83.13 million, due mainly to higher contribution from marine services division.
For the nine months ended Oct 31, SapuraCrest’s net profit jumped to RM233.71 million from RM158.77 million in 2010, on the back of revenue RM1.99 billion.
Meanwhile, Hiap Teck Venture's 55% owned Eastern Steel Sdn Bhd had been granted a mining licence by Trengganu state government to mine iron ore on the area of 600 acres near Bukit Besi.
The mining concession would allow Eastern Steel to mine the area, which has estimate reserve of 40 to 50 million ton of iron ore, until the end of its mining life.
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