U.S. and European Market Roundup
- The DJIA up 109.44 points to 8,029.62 points.
- U.S stocks rose for the fourth time in five days as prospects for consumer-staples and industrial shares improved and American Express Co triggered gains in financials after saying growth in bad loans slowed.
- Over in Europe, equities were flat on Wednesday as financial stocks resumed their slide after UBS made a first-quarter loss, negating the impact of stronger drugmakers and retailers.
- Tenaga Nasional (TNB) swung to a net profit in its second quarter and it expects demand for electricity to pick up for the rest of the year as the worst is probably over.
- Cahya Mata Sarawak’s (CMS) unit, CMS Land Sdn Bhd has secured RM232 mln worth of construction contracts from Sarawak Energy Bhd (SEB) to develop and construct the latter’s proposed headquarters building at Isthmus in Kuching.
FKLI traded higher closed @ 958.50.
Bollinger Band width continue its expanding with candle touching upper BB band. MACD still in bullish mode but RSI is touched overbought area.
Resistance @ 967.5 while support @ 903
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