Market News

GDP China
China posted its slowest ever quarterly growth in a signal of the frailty of the global economy. Economy grew a slower-than-expected 6.1 percent in the first quarter.

The Fed
The Federal Reserve’s Beige Book, based on observations from March through April 6, reported that overall economic activity remained weak and contracted further in some cases.

INDF
Rumors, PT Indofood Sukses Makmur Tbk (INDF) had plans to start exploring Initial Public Offering (IPO) Bogasari. In addition, the estimated first quarter 2009 profit company that predicted an increase of 15%. The growth of sales in 2009 of PT Indofood Sukses Makmur Tbk (INDF) also predicted increased. With the strengthening of the rupiah exchange rate of loss will be lower when compared to 2008 and the company will have incentives PPh because the number of free float above 40%.

Wheat
Wheat prices rose for the first time in three days on signs that freeze damage to winter crops in parts of Oklahoma and southwest Kansas was worse than estimated. Temperatures in the region fell below 20 degrees Fahrenheit (minus 7 Celsius) on April 6 and April 7, government data show. The freeze probably harmed plants as they were beginning to produce grain

TIN
Tin climbed $150, or 1.3 percent, to $11,500 a ton. A close at that price would be the highest since Jan. 27. The amount of the metal scheduled to be withdrawn from LME-monitored warehouses more than doubled to 835 tons, exchange data today showed. Increases in so-called canceled warrants may indicate stronger demand.

Nickel
Nickel declined $50, or 0.4 percent, to $12,450 a ton. Inventories rose for the first time since April 7, climbing 84 tons to 105,348 tons.

Elnusa
State of the Ministry of State Owned (BUMN) to encourage PT Pertamina to increase the portion of shares of PT Elnusa Tbk (Elsa) during action against the corporation is profitable takeovers.