Market News - 28 Apr 2009

U.S. and European Market Roundup 

• The DJIA down 51.29 points to 8,025.00 points.
• U.S stocks retreated as concern the swine flu outbreak will hurt travel, energy and hotel companies overshadowed gains in health-care shares and General Motors Corp’s plan to cut liabilities.
• Elsewhere, European stocks recovered to end higher on Monday after being under pressure for most of the day on fears of a swine flu pandemic with drugmakers up on hopes of more vaccine demand and other defensives also rising.

Macro and Corporate News 

• Sime Darby said it is in talks with Ramunia Holdings for a potential corporate deal. It was reported earlier that Sime may take over Ramunia in a share swap deal.
• Pantech Group Holdings, which makes pipes and fittings for the oil and gas industry, said its 4Q net profit rose 7.0% due to better sales.
• AMDB has signed a conditional sale and purchase agreement with Detik Jalur Sdn Bhd to dispose off its entire interest comprising 1.23 mln shares of RM1.00 each or a 23.33% stake in Central Spectrum (M) Sdn Bhd (CSSB) for RM16 mln cash.