Market News - 21 Apr 2009

U.S. and European Market Roundup 

• The DJIA down 289.60 points to 7,841.73 points.
• Wall Street slid more than 3% on Monday after weak results from Bank of America reignited concerns over the state of the banking industry and the economy.
• European shares closed sharply lower on Monday with banks taking most points off the index as investors gave the thumbs down to Bank of America results marked by an increase in troubled loans.

 Macro and Corporate News 

• SP Setia is keeping mum on its plan to acquire three real estate companies under Permodalan Nasional Bhd (PNB) to increase sales and gain financial backing from the government.
• Kumpulan Europlus (KEB) expects projects worth RM3 bln from the proposed West Coast Highway, which links Taiping to Banting and the KLIA in Sepang.
• Axis REIT recorded a 15.4% growth in net profit to RM10.4 mln in the 1Q ended March 31, from a year earlier on the back of a 19.9% surge in revenue to RM17.3 mln