May 23, 2011

Stock recommendation today

Jakarta Composite Index (JCI) is predicted to move mixed today with tendency to weaken, e-Trading Securities said in a review. Here is stock recommendation as quoted by today:
The securities company sets the support-resistance level at 3,849 -3,896 and recommends 'buy' on shares like INTP, INCO, and BORN.
From Europe, investors are still concerning on the future of the region following the Italy's debt rating downgrade to negative from stable by Standard & Poor's due to high potential failure of its debt cut effort and the prospect of weak economy.    
Yet, European stocks slightly rose on Friday, led by the gain in oil and gas sector on BP's success to settle the Deepwater Horizon claims, PT Monex Investindo Futures said.
BP announced on Friday that it has reached agreement with MOEX Offshore 2007 LLC (“MOEX”) and its affiliates, Mitsui Oil Exploration Co, Ltd and MOEX USA Corporation to settle all claims between the companies related to the Deepwater Horizon accident. 
MOEX – which had a 10% interest in the Macondo well – has joined BP in recognising and acknowledging the findings by the Presidential Commission that the accident was the result of a number of separate risk factors, oversights and outright mistakes by multiple parties and a number of causes. 
Like BP, MOEX Offshore has also recognised and acknowledged the conclusions of the United States Coast Guard that, among other things, the safety management systems of both Transocean and its Deepwater Horizon rig had significant deficiencies that rendered them ineffective in preventing the accident. 
MOEX has concluded that entering into a settlement with BP is in its best interest. The agreement is not an admission of liability by any party regarding the accident

Disclosure: No position at the stock mentioned above.

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