Market News - 29 Apr 2009

U.S. and European Market Roundup 

• The DJIA down 8.05 points to 8,016.96 points.
• U.S stocks fell on Tuesday as fresh worries that major banks may need to raise more money offset more reassuring economic data that suggested the worst may be over and a big dividend boost from IBM.
• Over in Europe, shares lost ground on Tuesday but closed off intra-day lows as surprisingly strong U.S consumer confidence data took some of the edge off fears linked to swine flu and U.S banks' capital needs.

Macro and Corporate News 

• Jaks Resources, which is in the midst of finalising details of a planned RM6.48 bln power plant in Vietnam, is now planning to secure an estimated RM94.56 mln wastewater treatment plant construction job there.
• Deleum is bidding for contracts worth between RM300 mln and RM400 mln this year. Of these, 50-60% involves existing contracts and the rest will be new.
• Quill Capita Trust's (QCT) net profit for the 1Q ended March 31 rose 3.5% to RM7.4 mln from RM7.1 mln a year earlier, driven by contributions from the six acquisitions it made after its IPO.