HK's Kunlun Energy at 3-week high on upbeat outlook, profit

Kunlun Energy

29/08/2018 04:25

** Shares of Kunlun Energy Company Ltd  0135.HK  rise 7.8
pct to HK$7.98, the highest since Aug. 10, after the oil and
natural gas producer and distributor gives an upbeat outlook
following a jump in H1 profit 
    ** The shares trim gains to HK$7.86, still up 6.2 pct and
heading for the best day since Dec. 18
    ** Co posts 21.4 pct rise in H1 profit and a 21.8 pct jump
in revenue, and says China's natural gas industry will continue
to develop rapidly amid favourable policy  urn:newsml:reuters.com:*:nFWN1VJ0S2
    ** Daiwa maintains "outperform", saying the firm's H1
results are a strong beat on all fronts 
    ** Jefferies maintains "buy" saying it expects Kunlun's high
utilisation rate of LNG terminals to be maintained in H2, making
the LNG terminals business a strong cash cow
    ** Kunlun Energy has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 9.0 percentage points in the
past month

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)