Market News - 07 May 2009

U.S. and European Market Roundup 

• The DJIA down 101.63 points to 8,512.28 points.
• U.S stocks advanced to a four-month high as investors speculated banks do not need as much capital as had been projected and a report showed employers cut fewer jobs than economists estimated.
• Elsewhere, European stocks advanced for a fifth day as companies from BNP Paribas SA to Bayerische Motoren Werke AG and Carlsberg A/S posted better-than-estimated results and economic reports signaled the recession is easing.

Macro and Corporate New

• Hong Leong Bank’s (HLB) net profit increased marginally to RM206.5 mln for the 3Q ended March 31 from a year ago due to lower taxes incurred.