Market News - 25 May 2009

U.S. and European Market Roundup 

• The DJIA down 14.81 points to 8,277.32 points.
• U.S stocks fell for a fourth day on Friday on persistent worries about the U.S budget deficit, with U.S Treasuries and the Dollar losing ground.
• European shares ended lower for the second day in a row on Friday, further cooling a rally that has added a third to stock prices in the past ten weeks, as defensives and Swiss stocks weighed.

 

 

Macro and Corporate New

• Green Packet, a company that develops telecommunication solutions and offers wireless broadband services, said its first-quarter net loss widened more than sevenfold despite higher revenue, due to the cost of rolling out its wireless broadband services.
• Malaysia second largest banking group Bumiputra-Commerce Holdings said it may review its targets for this year if capital markets continue to improve.
• Tanjung Offshore has diversifed its range of support vessel services and moved up the value chain for its engineering equipment business, according to Managing Director Omar Khalid.