Stocks in the power producer group, led by GPSC, GULF and BGRIM, gained on Thursday’s early morning trading as markets shrug off costs rising after oil prices dropped.
At 11.38 hrs. local time in Thailand, the share price of Global Power Synergy Plc. (SET: GPSC) rose THB2.25/share or 3.37% to THB69.00/share, with a trading value of THB1,053 million.
The share price of Gulf Energy Development Plc. (SET: GULF) rose THB1.00/share or 2.09% to THB48.75/share, with a trading value of THB1,032 million.
The share price of B.Grimm Power Plc. (SET: BGRIM) rose THB1.75/share or 5.51% to THB33.50/share, with a trading value of THB527 million.
Asia Wealth Securities is bullish on equities in the power producer sector, particularly GPSC, GULF, and BGRIM, following a fall in crude oil prices in response to the Russian-Ukrainian negotiations, which have made little progress.
Third round of negotiations between Russian Foreign Minister Sergei Lavrov and Mr. Dmitro Kuleba, Minister of Foreign Affairs of Ukraine is scheduled today (10 Mar). There are positive signs and progress ahead of the talks. The statement from the Russian Foreign Ministry spokesman said that there is no intention to overthrow the Ukrainian government, to occupy Ukraine, to destroy the statehood of Ukraine, to overturn the Ukrainian government and no targets against civilians. The attitude of Ukraine is likely to give up its intention to become a member of the North Atlantic Treaty Organization (NATO), in response to one of Russia’s demands for Ukraine.