Trading ideas: Icon Offshore, Orion IXL

KUALA LUMPUR: JF Apex Research expects Icon Offshore Bhd and Orion IXL Bhd to be among the stocks to watch on Monday.

Icon Offshore has received contracts and a work order to provide vessels to three Petroleum Arrangement Contractors and Petronas Carigali Sdn Bhd.

Orion IXL has entered into a Memorandum of Understanding with SME Bank Bhd to provide technology services to strengthen the latter’s core banking activities and services.

The MoU will look at implementing an automation platform in SME bank, as well as generating alternative credit scores for Malaysian SMEs using data such as electronic communications and industry trends.

Meanwhile, US markets rose on Friday following positive employment data and progress in the US-China trade deal.

On Friday, the S&P 500 and Nasdaq closed higher by 0.5% and 0.6%, respectively, while the Dow climbed 40.36 points.

European stocks also advanced on US’ non-farm payroll data and developments in US-China trade talks.

“Following the positive performance in the US and Europe, the FBM KLCI could climb towards the resistance of 1,655 points,” JF Apex said.

Source : TheStar