Market News 26 May 2009

U.S. and European Market Roundup 

• The US markets were closed for the Memorial Day.
• European shares rose on Monday with Sanofi Aventis leading pharmaceuticals higher after winning a U.S contract and some analysts choosing to interpret a leading German economic survey positively.

 

 

Macro and Corporate New

• Sime Darby's net profit and revenue fell in the third quarter ended March 2009 on weaker plantation operations, prompting company officials to warn that full-year results may not be as good as in 2008. Net profit during the quarter dropped 87% to RM165.7 mln, while revenue fell to RM7.5 bln from RM8.6 bln previously.
• Tenaga Nasional (TNB) plans to hire Korea Electric Power Corp (Kepco) to help it do a preliminary feasibility study on what would be Malaysia's first nuclear plant.