U.S. and European Market Roundup
· The DJIA up 19.43 points to 8,740.87 points.
· UU.S stocks rose for a fourth day as a rally in health-care companies and optimism that the housing market is improving overshadowed concern share sales will dilute earnings at lenders seeking to pay back bailout funds.
· Over in Europe, stocks ended flat on Tuesday as stronger auto shares negated the impact of weaker banks, which were led lower by Barclays after Abu Dhabi sold more than 11% of the lender's shares.
Macro and Corporate New
· SapuraCrest Petroleum via its unit, TL Geotechnics Sdn Bhd has signed a share sale agreement with Scomi Group to acquire the remaining 1.2 mln shares, or 60% stake in Scomi Oilserve Sdn Bhd (SOSB) for RM8.48 mln. SOSB owns two anchor-handling tugs (AHTs), Oilserve Alpha and Oilserve Beta.
· Land & General (L&G) has proposed a five-to-one share capital reduction, which would involve cancelling 80 sen of the par value of its RM1.00 shares.
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