|Day's Range||4.137 - 4.143|
|52 Week Range||4.0427 - 4.2255|
The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange last fell 0.9% at 2,474 ringgit ($592.57) per tonne. Weighing on palm prices was a firmer ringgit, which rose 0.1% against the dollar on Thursday, making the edible oil more expensive for holders of foreign currencies. "Palm fell today because of a stronger ringgit," a Kuala Lumpur based trader told Reuters.
MYR (MYRG) delivered earnings and revenue surprises of 6.90% and 14.72%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Malaysian palm oil futures opened higher for a sixth straight session on Wednesday, tracking gains in China and rival oils, and weakness in ringgit. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange last traded up 1.6% at 2,456 ringgit ($587.14) per tonne. The rally is due to strength in palm oil on the Dalian Commodities Exchange, which has been surging to record highs in the past week, a Kuala Lumpur-based trader told Reuters.
While MYR Group Inc. (NASDAQ:MYRG) shareholders are probably generally happy, the stock hasn't had particularly good...
The ringgit, palm's currency of trade, eased to a three-week low against the dollar, making the edible oil cheaper for holders of foreign currencies. The ringgit was down 0.1% at 4.1955. The benchmark palm oil contract for the December delivery on the Bursa Malaysia Derivatives Exchange was up 1% at 2,196 ringgit ($523.42) per tonne.
Trump said that a trade deal with China could happen sooner than people think saying the two biggest economies are having "good conversations." The president's recent remarks come after he delivered a stinging rebuke to China's trade practices and said he would not accept a "bad deal". While Trump's comments helped sentiment, Asian currencies traded in a thin range as investors remained apprehensive.
Malaysian palm oil futures edged down at the midday break on Wednesday, as a stronger ringgit and overnight losses in U.S. soyoil prices weighed. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was last down 0.4% at 2,169 ringgit ($520.02) per tonne around noon. Palm oil may retest a support at 2,160 ringgit per tonne, following its failure to break a resistance at 2,192 ringgit, said Wang Tao, a Reuters market analyst for commodities and energy technicals.
* Palm drops for 3rd straight session * Ringgit hits 2-week high against dollar * Palm oil may test support at 2,160 rgt/T - techs (Adds closing prices, trader's comment) By Emily Chow KUALA LUMPUR, Aug 19 (Reuters) - Malaysian palm oil futures fell nearly 2% on Monday, weighed down by gains in the ringgit and tracking losses in related edible oils. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was down 1.6% at 2,156 ringgit ($516.41) per tonne to mark a third straight session of losses. Palm earlier fell as much as 1.8% to an over one-week low of 2,152 ringgit, its lowest since August 9.
The ringgit advanced 0.2%, while the Indonesian rupiah built on gains from Friday to be up 0.3%. Earlier on Monday, Fitch Solutions revised Malaysia's 2019 growth forecast to 4.6%, up from 4.2%, after the country reported stronger-than-expected growth over the first half.
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
MYR (MYRG) delivered earnings and revenue surprises of -28.33% and -1.89%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
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MYR Group Inc. (NASDAQ:MYRG) is a company with exceptional fundamental characteristics. Upon building up an investment...
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* Palm earlier rose to 4-day top of 2,058 rgt/T * Ringgit gained slightly around noon before trading flat * Market also down on profit taking - trader (Updates with closing prices) By Emily Chow KUALA ...
* Palm earlier rose to 4-day top of 2,058 rgt/T * Ringgit gained slightly around noon * Market also down on profit taking - trader (Updates with midday price, quote) By Emily Chow KUALA LUMPUR, May 8 (Reuters) ...