Trading ideas: Econpile, UEM Edgenta, MyEG

KUALA LUMPUR: JF Apex Research expects Econpile Holdings Bhd , UEM Edgenta Bhd and MyEG Services Bhd to be among the stocks to watch on Monday following their latest corporate news.

Econpile has secured a RM20.5mil contract to undertake piling and substructure works for the development of a 41-storey service apartment known as Block H of KL Gateway (Phase 2) project.

UEM Edgenta’s indirect wholly-owned unit, Opus International (M) Bhd, has secured a letter of award from related party Borneo Highway PDP Sdn Bhd to provide technical support services for RM60.3mil.

MyEG will see its contract with the Immigration Department to carry out the government’s rehiring exercise of undocumented foreign workers being terminated by the end of the month.

Meanwhile, US market rose on last Friday after employment data exceeded expectations.

The Dow Jones industrial average rose 219.37 points to close at 24,635.21 while the S&P 500 gained 1.08% to 2,734.62 points.

Earlier, European stocks advanced following political developments in Italy and Spain.

“Following the bullish performance in the US and Europe, the FBM KLCI could remain buoyed, hovering above the support of 1750-point level,” JF Apex said.

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