Gasoline Market Update

Nymex gasoline for April delivery RBJ5, -2.96%  fell 4.7 cents, or 2.6%, to $1.762 a gallon, poised for a loss of more than 6% for the week. 

Gold loses 1% on week, stays above $1,150

Gold futures held their ground above $1,150 an ounce on Friday, finding some support as economic data cooled expectations for a Federal Reserve interest-rate increase as early as June, but prices lost 1% for the week, pressured by gains in the U.S. dollar.

Gold wavered between small losses and gains. April gold GCJ5, +0.56% climbed 50 cents to settle at $1,152.40 an ounce on Comex. For the week, it logged a loss of about 1%.

Oil futures suffer nearly 10% weekly plunge

Oil futures fell sharply on Friday, to tally a weekly decline of nearly 10%, as a monthly report from the International Energy Agency raised concerns that the glut of crude supplies and tightening storage capacity in the U.S. may cause prices to weaken further.

Crude-oil for delivery in April CLJ5, -4.36%  fell $2.21, or 4.7%, to settle at $44.84 a barrel on the New York Mercantile Exchange. Prices ended the week with a loss of 9.6%.

April Brent crude LCOJ5, -4.38%  on London’s ICE Futures exchange shed $2.41, or 4.2%, to settle at $54.67 a barrel, with the front-month contract down 8.5% for the week.

Market Closing Update

MALAYSIAN shares ended lower on Friday with the Kuala Lumpur Composite Index slipping 5.12 points to close at 1,781.75.

Some 2.96 billion lots, valued at RM1.82 billion were traded. Gainers numbered 372 while losers numbered 471.

KLSE Stock Recommendations

MARKET UPDATES :
The FBM KLCI index gained 8.71 points or 0.49% on Thursday. The Finance Index increased 0.51% to 15869.72 points, the Properties Index up 0.69% to 1312.96 points and the Plantation Index rose 0.08% to 7787.29 points. The market traded within a range of 9.27 points between an intra-day high of 1789.92 and a low of 1780.65 during the session.



STOCK RECOMMENDATION :

BUY PETRA ENERGY AT 1.455 – 1.450 TARGET 1.500 1.580 SL 1.380