IHSG - Still Sideways Pattern Continue Home Week

Jakarta - Composite Stock Price Index (CSPI) / IHSG , predicted the movement would continue horizontally (sideways) to trade in the coming weeks, especially if there is no positive sentiment that makes JCI is able to penetrate resistance at 2820 levels.

In the last week, CSPI (IHSG) moving in the range of 2823.251 at the close of June 4, 2010 and closed on the closing level of 2801.899 on June 11, 2010. JCI (IHSG) movement tend not to fluctuate in the trading week yesterday.

According to PT Samuel Securities analyst Muhammad Al-fatih, JCI movement range at the weekend to support 2700 resistance 2820. He said that if there is no sentiment that is able to make these boundaries through the Composite Index, the Composite Index will likely continue the sideways pattern in the same range in the coming week.

"If the limit of support and resistance are not able to penetrate (IHSG) CSPI 2700-2820, apparently next week is still going sideways and not fluctuate," he said.

Al-fatih also said the negative sentiment is basically the debt condition of European countries have started to fade alias does not significantly influence the JCI movement. Therefore, this should be a good momentum to lift the 2820 JCI pierce resistance.

Unfortunately, the carpet of the World Cup 2010 in progress at the same time. For the record, the World Cup 2010 always make daily transactions dropped dramatically in terms of both volume and value of the transaction.

"Based on the history of stock trading, indeed every World Cup it decreases transaction. We do not know the exact cause, but it was always like that. The movement of the rising and falling so casually, just a thin all their transactions," said Al-fatih.

IHSG (JCI) Ready to Speeding

Stock Recommendations
Jakarta - Composite Stock Price Index (JCI) yesterday closed lower amid thin regional bourses are already rebounding. Investors are still very cautious in an atmosphere of global financial markets is still uncertainty.

In trading Thursday (10/06/2010), Jakarta Composite Index closed down 15.006 points (0.53%) to the level of 2770.787. LQ 45 Index also fell 4.449 points (0.82%) to a level of 534.169.

But CSPI now ready to race again. CSPI on Friday trade (11/06/2010) is predicted to move sharply higher thanks to the positive sentiment strengthening regional bourses. Investors will utilize the momentum of this reinforcement to hunt again leading stocks that have been cheap.

Wall Street closed higher yesterday as well as recording its best day after nine days slumped. In trading Thursday (10/06/2010), the Dow Jones index closed sharply higher to 273.28 points (2.76%) to the level of 10172.53. Index Standard & Poor's 500 climbed 31.15 points (2.95%) to a level of 1086.84 and the Nasdaq gained 59.86 points (2.77%) to a level of 2218.71.

Japanese stocks also opened immediately strengthened. Nikkei-225 index opened Friday with the increase in trade 158.67 points (1,66%) to a level of 9701.32.

The following recommendations for the stock today:

Foreign Exchange:

JCI movement are still very volatile in the short term. Uncertainty indicates the high volatility in the market. Investors are still awaiting the development of the global economy. Selling pressure is still projected to hit shares bluechips. We projected the index would move in the range of support-resistance 2740-2795.

eTrading Securities:

At JCI closed lower on Thursday, 15 point, on this day the market will see the jobless claims data from U.S. and International trade, short-term JCI forming a bullish divergence on the RSI and the stochastic shows that will perform a golden cross, so the potential for stronger JCI, JCI be in the range 2750 - 2820 which can be observed with saham2 INDF, DILD and BSDE.

Samuel Securities:

JCI weakened due to the financial sector and infrastructure, which weighs big for the decline in the index, hit by negative sentiment from the lowered target short-term IDR three months of 8800 to 9,000 per dollar by Goldman Sachs. The possibility of this sector will still be experiencing short-term pressures. While the consumer goods industry and even higher due to stronger purchasing power. Index is expected to move in 2710-2800 range.

Erdikha Securities:

Jakarta Composite Index closed down 15.01 points to 2770.79 (-0.54%). Decline in most stocks of the financial sector and Grub Astra was the trigger attenuation index, but index is not too deep slowdown caused by the strengthening of the shares of consumption and property. The technical movements of the index are still flat, with strong support at 2750 levels. We estimate the movement of the index ranged from 2720 to 2810. Shares of our recommendations is INDF, WIKA, and BSDE.

Nusadana OSK Securities Indonesia:

CSPI today is expected to increase, with estimates of the nearest resistance R1 (2,808.34) and the nearest support between S2 and S1, or about the level of 2,764.99.

Daily risk this time around the level of 35.43%, which occurred Even if such corrections are expected to tend to be stuck in S2 (2,756.32). W% R indicator of the possibility of an Optimized bottom reversal, given the tendency to achieve more limited support trendline.

And if today is able to survive on the JCI level Q (2,791.00), then the opportunities are open to the R4 level (2,860.36) within the next week.

Market Place Flash eTrading Online

Jakarta - Dow Jones: U.S. stock market recovered, the S & P 500 reached the highest increase in two weeks linked to reports from China, Japan, and Australia, which reported increased optimism on the global financial crisis. Shares of Caterpillar, the largest construction equipment manufacturer in the world, rose by 5.5 percent. Meanwhile, shares of Alcoa, the world's largest aluminum producer, rose 4.2 percent. BP shares rose by 12 percent, the most since October 2008. S & P rose 3% to 1,086.84 with details of 496 stocks rose. Dow Jones Industrial Average rose 273.28 points, or 2.8 percent to 10,172.53 level.

Regional Morning: Asian stock markets rose for two consecutive days with increasing interest of investors toward riskier assets amid speculation that the European debt crisis will not hamper economic growth. Canon Inc., Which acquired 31% of sales from Europe, up 2.2% in Tokyo after the European Central Bank raised growth forecasts for the euro area this year. Samsung Electronics Co. (+2.5%) in Seoul. BHP Billiton Ltd. (+2.2%) After the strengthening of metals and oil prices. Nikkei (+1.9%) 9.719 KOSPI (+1.66%) 1.679 S & P / ASX 200 (+1.4%) 4.495 STI (+0.9%) 2803

Commodity: Crude oil prices surged to its highest level in the past four weeks following the increase in equity markets after economic reports from China, Japan and Australia, indicating the strengthening of global economic recovery. Oil prices rose 5.7% in the last three days because of higher export figures of China in the highest level in six years and Japan's economic growth in the fastest pace in the second quarter 2009 in a period of three months to March. The Dow Jones Industrial Average rose 2.8% and the euro exchange rate also rose for the day ketigaWTI Crude -0.1% (75.4 U.S. dollars / barrel), Gold 100 +0.3% (EUR 1.220 / t oz), CPO -0.5% ( RM 2.532 /, MT), Nickel -1.7% (USD 18.945 / MT), Tin +2.0% (EUR 16.650 / MT).


Economic & Industrial News

Finance: European crisis had little influence multifinance

Indonesian Financial Services Association (IFSA) to assess the finance industry is not much affected by the crisis of Europe because most multi accessing loans from foreign banks denominated in Japanese yen. IFSA Chairman Wiwie Kurnia said the crisis was to give Europe its own sentiment, especially related to access financing company financing. However, according to him the effect is not large.

Economic: The IMF believes RI able to keep the economy

International Monetary Fund (IMF) believes the Indonesian government is able to keep the economy from the global turmoil, including the European crisis, although there is a change of personnel in the economic team of the United Indonesia Cabinet II. Division Chief IMF's Asia-Pacific call Agus Martowardojo new Indonesian Finance Minister Sri Mulyani Indrawati replaces, has a wealth of experience managing different economies, the banking sector. In addition, many associated with the reform track record.

Euro: ECB Hold Interest Rates Not Changed

European Central Bank maintained its key interest rate at a record low 1.0 percent on Thursday, as financial markets demanding details about the controversial program to buy bonds from the euro zone countries. "As usual pleasantries about the appropriate level of interest rates still remain high despite the uncertainty will not be enough this time," said Societe Generale economist James Nixon. Governor of the European Central Bank (ECB) last month decided to buy billions of euro bonds issued by countries such as Greece, Ireland and Portugal, but the move is opposed by at least one senior official and damaging the credibility of the ECB. ECB President Jean-Claude Trichet said the previous day that the option was not discussed in regular meetings the bank in early May.

U.S.: U.S. Budget Deficit Shrinking

U.S. government budget deficit shrank 28 percent in the year-to-year to 135.93 billion dollars in May, the finance ministry said Thursday. The deficit is the 20th consecutive month of federal red ink. The latest data from the federal government brought the deficit during the first eight months of the fiscal year ended September 30, 2010 to 935.61 billion dollars - 53.35 billion dollars less than the previous year. Receipts fell in May to 146.80 billion dollars from April, but expenditures also dropped to 282.72 billion dollars, the finance ministry figures showed. Figures for May deficit was lower than that estimated 142 billion dollars most economists and the Congressional Budget Office, a nonpartisan agency that provides economic data for members of parliament. Given the "small differences" between the CBO and the actual data, the market reaction will be limited, Briefing.com analysts said in a note to clients.

Economic: Oil Price Increases Driven Export of China, the IEA projections

Crude oil rose for the third consecutive day in New York on Thursday, driven by China's strong export data and optimistic outlook for energy demand from the International Energy Agency. New York's main futures contract, light sweet crude for July delivery, closed at 75.48 dollars per barrel, up 1.10 dollars from Wednesday's position. In London, Brent North Sea crude oil for July delivery added 1.02 dollars to settle at 75.29 dollars per barrel. "This is encouraged by news from China that showed significant improvement in China's exports, so that people feel it would lead to increased demand for oil," said Andy Lipow of Lipow Oil Associates. China, Thursday said its trade surplus surged in May amid strong foreign demand which encourages exports rose 48.5 percent from a year ago. Figures that trade helps alleviate concerns that the debt crisis would cost the euro zone's third largest economy and second largest energy consumer in the world, seen as a major engine of world oil demand.

China: Some of China's economic data will come out today

Economic data that will be released today (Friday, 6.11), among others, Industrial Production, Inflation, PPI, Retail and Urban Penjualam Fixed Asset investment. Predicted inflation rising from 2.8% to 3%. While PPI is expected no change, still padalevel 6.8%.


Corporate news

ASII: Explore Buy 47% Shares Owned ASF General Electric

PT Astra International Tbk (ASII) is in the process of buying a 47% stake in PT Federal International Finance (ASF) held by General Electric Capital Corporation. This acquisition will create over 100% shares ASII ASF.Kedua manandatangani parties have been purchase agreement (Conditional Share Sale and Purchase Agreement) on June 10, 2010. Simultaneously, also signed SP ASII Conditional Share Sale and Purchase Agreement for purchase of shares owned by General Electric Capital Asia Investments Inc. at PT Komatsu Pratama much as 47%.

BMRI: Self-drill a new consumer credit Rp6, 5 trillion

PT Bank Mandiri Tbk targeting at this year's new credit pengkucuran reaching Rp6 consumer sector, 55 trillion, up 28% to Rp29, 95 trillion if compared with the same period the previous year. Target credit exceeds the projections of the banking industry average of 20% -24%. Consumer sector has become a pillar of bank credit because of the level of public demand never subsided even during the crisis. Executive Vice President of Consumer Finance Bank Mandiri Coordinator Mansyur P. Nasution said that until now the total consumer loan portfolio has reached Rp25 trillion. This means that already grow Rp1, 6 trillion into the first half of this year.

BNII: BII boost cooperation with 35 business partners

PT Bank Internasional Indonesia Tbk (BII) to improve cooperation with the 35 strategic business partners through the provision of Financial Service Supply Chains. BII continues to develop the Financial Supply Chains in supporting the needs of strategic business partners who continue to develop with due regard to the potential market. Thus, BII can make a positive contribution to the development of real sector and growth of the Indonesian economy, said President Director of BII. Cooperation signed by the President Director of BII with a strategic partner of BII 35 representatives consisting of a variety of industries including information technology industry, pulp and paper, cement & un-metal excavating industry, consumer goods, building construction, property, automotive, heavy equipment, mini, financial institutions, travel agencies and telecommunications.

DURATION: Can U.S. $ 185 Million Loan

Sarana Tbk PT Multistrada Direction get immediate credit facility from a syndicate of banks amounted to U.S. $ 185 million in July 2010. These funds will be used to increase tire production capacity to be doubled. There are three banks that entered in the syndicate, including Bank CIMB Niaga, Bank Internasional Indonesia (BII), and HSBC. There is also a Credit Union's institutions, from Germany amounted to U.S. $ 45 million.

BTEL: Telkom Buyers Right Issue Alert Bakrie Telecom

PT Telekomunikasi Indonesia Tbk (Telkom) and PT Bakrie & Brothers Tbk will be a standby purchaser public offering (rights issue), PT Bakrie Telecom Tbk, which is scheduled for August 2010. An executive involved in the cooperation, said the action is the early stage of consolidation of fixed telephone services based on CDMA (Code Division Multiple Access) owned by Telkom and Bakrie Telecom, Flexi and Esia.

BNGA: CIMB Niaga Offer Yield 10% -11%

PT Bank CIMB Niaga Tbk offered kuopn yield (yield) of subordinated bonds (subdebt) amounting to Rp1, 5 trillion in the range 10% to 11%. Director of Bank CIMB Niaga said it is subordinated bonds denominated in rupiah sebdebt first. Previously the company had issued subdebt in rupiah denomination. Previously the company has issued dollar denominated subdebt worth U.S. $ 100 million.

Bipi: Immediately Elnusa Acquisition Complete

Benakat Petroleum Energy Tbk PT (bipi) in the near completed the purchase of 12.55% stake in PT Tridaya Esta PT Elnusa Tbk (ELSA) worth Rp302, 5 billion. The Company has set aside to complete the acquisition transaction.

TOWR: Remove 10% Stake

PT Sarana Tower Nusantara Tbk (TOWR) immediately release 10% of new shares without preemptive rights (non-ER). Djarum Group business unit is targeting the acquisition of funds Rp215, 99 billion. Tower Facility will unleash 102.02 million shares at a price per unit Rp2.117.

JPFA: U.S. $ 50 Million Investment

PT Japfa Comfeed Indonesia Tbk (JPFA) will invest U.S. $ 50 million or about Rp465 billion in 2010. Funds amounting to U.S. $ 25 million will be allocated its subsidiaries, PT Indonesia Tbk Multibreeder (MBAI). (Investor / NLT)

META: New Stock Price Discount 20% Nusantara

Toll road operator PT Nusantara Infrastructure Tbk (META) plans to issue new shares (rights issue) with the ER 8.5 billion shares at a price of USD 88 per share or equivalent to Rp 748.7 billion. With the price of Rp 110 per share at the close Wednesday, June 9, or the day before the announcement of the company, the price of new shares were offered 20% discount.

MRAT: Dividend Payment Schedule

PT Mustika Ratu Tbk (MRAT) will distribute a cash dividend amounting to 20% of total net income earned in the fiscal year ended December 31, 2009 or a total of USD 9.82 per share, with the following schedule: cum dividend on the regular market and negotiation : July 1, 2010 ex-dividend in the regular market and negotiation: July 2, 2010 cum dividend in cash market: July 6, 2010 ex-dividend on cash markets: July 7, 2010 recording date: July 6, 2010 Payment date: July 20, 2010.

JSMR: BPJT Form 4 Evaluation Team 24 Toll Road

Toll Road Regulatory Agency (BPJT) formed four teams for the evaluation of 24 projects including the Trans-Java toll. Four teams tasked with evaluating the ability of the equity investor and project feasibility. BPJT head Nurdin Manurung said four had been in charge of the evaluation team from the beginning of the week has a task force to evaluate the feasibility of each project. Evaluation of toll roads is realized by referring to the Minister of Public Works Peratudan No 06/PR/M/2010 about guidelines for evaluation of toll road concessions forwarding. The evaluation result will determine the continuation scheme toll project if it turns out these fields still have economic value to be continued.

BSDE: BSD Target Sale Houses Rp1, 5 Trillion

PT Bumi Serpong Damai Tbk target of Rp1, 5 trillion in home sales in the region along the BSD City township in 2010. Until the first quarter of this year, BSD has been successfully achieved residential sales amounted to Rp600 billion. BSD President stated that he target the BSD City will be able to sell residential units amounted to Rp900 billion, in the next three quarters.

IHSG Increases 2800 Hits

Jakarta - Composite Stock Price Index (JCI) opened sharply darted back through the 2800 level in the middle of regional exchanges that have been improved. The rupiah strengthened to 9.200/US $.

In trading Friday (06/11/2010), Jakarta Composite Index opened slightly higher level to 2771.480 and then straight up to the level of 2817.407, up 47 points from yesterday's closing level at 2770.787.

In pre-opening trade, JCI opened up 31.763 points (1.14%) to the level of 2802.550. LQ45 Index also increased by 8.046 points (1.50%) to a level of 542.215. Almost all leading shares rose high enough in pre-opening trade, led by the strengthening of commodity stocks.

Wallstreet Exchange which closed up 2% over last night to give a fresh breeze on the trade Asian bourses this morning. JCI yesterday to move against the current, direct current sharp shot more than 1% in early trade.

Toward the 2010 World Cup which will take place starting tonight, there seems to be an effort lifted the stock price high enough in today's trading. Because usually, the trade shares during the World Cup tends to slow.

Until 09:35 o'clock, at the level of CSPI 2810.059, up 39.272 points (1.41%).

While the rupiah opened higher level to 9200 per dollar compared with yesterday's closing level of 9230 per U.S. dollar.

All Asian bourses rose high enough

* Shanghai Index rose 22.06 points (0.86%) to a level of 2584.44.
* Hang Seng index raced 281.29 points (1.43%) to the level of 19913.99.
* Straits Times Index rose 17.20 points (0.62%) to a level of 2796.78.
* Nikkei-225 index soared 190.41 points (2%) to a level of 9733.06.

Oil Spills Make BP Believed Not Bankrupt

New York EXCHANGE- The cost of handling oil spills in the Gulf of Mexico to reach billions of dollars. However, it is believed will not make a BP as a contractor becomes insolvent. British oil company that still has plenty of money to fix them.

So far, BP has reached around U.S. $ 1.5 billion to handle oil spills in the Gulf of Mexico. The amount is predicted to continue to rise given to this problem is not too exhaustive even more widespread impact.

That led to speculation BP will soon be registering for bankruptcy protection to avoid lawsuits. But Fadel Gheit, an analyst with Oppenheimer dismissed such speculation. According to him, will enter bankruptcy protection only to protect the assets of which are incalculable liabilities and at the same time taking care of business without any interference lawsuits.

In the midst of political pressure, Gheit believes, run the company out of business will not solve the problem of oil spills, complete liability to the plaintiffs, helping 23 000 U.S. workers, or even retirees.

Meanwhile, Citigroup analyst Mark Fletcher raise the risk ranking of BP from medium to high. This was based on estimates that the maximum BP would reduce the value of its stake to U.S. $ 40 billion.

"We realize that the little certainty about costs or definitions for the handling of such oil spills to the stockholders of BP. Costs and expenses incurred is still unclear, but we've made an adjustment up to four times what we believe is the most reasonable cost," says Fletcher as quoted in Forbes, Friday (06/11/2010).

Fletcher also noted BP's financial condition is still very good. Currently BP's total net debt is predicted to reach U.S. $ 25 billion, with underlying assets of about U.S. $ 130 billion, not including the contribution from the U.S..

He also estimated that BP managed to scoop up cash flow US4 40 billion per year in 2011-2013.

BP recently decided not to declare dividends, after the U.S. government asserted BP should provide funds to complete the obligations of the oil spill. But Fletcher said, in financial terms there is no reason why BP could not accommodate its obligation to pay dividends as well as completing an oil spill.

"Although it does not pay (dividends), the shareholders still enjoys a solid payment. If BP decides not to pay dividends in the second quarter to satisfy the politicians, the annual rate of return is still predicted to grow 6.8%," he added.

Oil spill crisis, which became one of the worst disasters in the U.S. has eroded the value of BP shares. In trading Thursday (10/06/2010), on the London Stock Exchange, shares of BP dropped to 15.7% and fell below U.S. $ 30 per share as investors worried about the cost of handling the problem of oil spills in the Gulf of Mexico it would be swell. Yet on April 20, or when an explosion which caused oil spill, BP shares were at the level of U.S. $ 60.48 per share.

BP shares slump to continue until the trade in Europe. On the London Stock Exchange, BP shares had dropped to 330 pence before finally improved to 372.4%, or down 4.87% compared to previous closing. But in trading Thursday (06/10/2010) on Wall Street, shares of BP Plc, which was hit hard in finally rebounded sharply by 12.3%.

Revenue at the World Bank Sri Mulyani USD 4.3 Billion per Year

Jakarta - Minister of Finance Sri Mulyani will soon occupy his new position as Managing Director at the World Bank. In these new positions, Sri Mulyani will gain up to U.S. $ 476,500 or USD 4.3 billion per year.

Revenue calculations Sri Mulyani was obtained under the World Bank's financial statements in 2009 that cited Top today Finance, Wednesday (05/05/2010).

The report describes, salary scale World Bank Managing Director who is currently still held Juan Jose Daboub reached U.S. $ 476,500 per year. Sri Mulyani will replace Juan Jose's position at the World Bank will begin June 1, 2010.

Salary scale structure in the position of Managing Director Sri Mulyani consists of a basic salary of U.S. $ 347,050 per year, plus a pension of U.S. $ 52,752 per year, and other benefits amounting to U.S. $ 76,698 per year.

Sri Mulyani salary scale at the World Bank, equivalent to two other World Bank officials are Executive Vice President of IFC (International Finance Corporation) Lars Thunell and the World Bank's Financial Director Vincenzo La Via.

However, Sri Mulyani salary scale is still far when compared to salaries of World Bank President Robert B. Zoellick that totals U.S. $ 700,986 per year. Consists of the basic salary of U.S. $ 441,980 per year, retirement benefits of U.S. $ 67,181 per year, and other allowances of U.S. $ 191,825 per year.

In addition to Sri Mulyani, the World Bank Managing Director also found two other salary scale is also still on top of Sri Mulyani later. First of Ngozi N. Okonjo-Iweala of the total salary of U.S. $ 506,471 per year. Then Graeme Wheeler a total salary of U.S. $ 511,517 per year.

Euro slumped Oil prices drop below U.S. $ 70/Barel

Tokyo - the euro single currency continues to stress to the lowest level in four years. It was directly triggered the decline in world crude oil prices to below U.S. $ 70 per barrel.

In trading Monday (5/17/2010) in Asian markets, the euro fell to 1.2234 dollars, which is the lowest point since April 2006. The next Euro at 1.2277 dollar recovered slightly, or weaker than the closure last weekend at 1.2358 dollars.

The fall of the euro continue to occur despite the European Union and the IMF has announced a rescue package from the impact of the crisis region of Greece worth U.S. $ 1 trillion.

"This is not just a problem of the debt crisis that caused the euro slumped Greece, but also fears of widespread impact," said Hideaki Inoue, a senior analyst with Mitsubishi UFJ Trust and Banking, as quoted from the AFP on Monday (5/17/2010).

Deterioration of the euro was directly triggered the drop in world crude oil prices. In trading in Asia, the main contract light sweet crude June delivery had slipped to U.S. $ 69.82 per barrel, before finally improved to U.S. $ 70.05 per barrel. While the Brent oil fell 1.38 dollars to the level of U.S. $ 76.55 per barrel.

"One of the factors that put pressure on oil prices is the continued strengthening of the U.S. dollar over the euro. Fundamentally, the oil market is not particularly tight, so they are vulnerable to reversal of sentiment, and this is what actually happened," said David Moore, analyst at Commonwealth Bank of Australia.

So far oil prices already down 17 dollars or about 20%, after touching its highest point in the level of U.S. $ 87.15 per barrel on 3 May. (Qom / dnl)