Market News - 12 June 2009

U.S. and European Market Roundup

• The DJIA up 31.90 points to 8,770.92 points.
• U.S stocks racked up gains across a wide array of sectors on Thursday, aided by rising commodity prices and improving labor market conditions, along with a sharp drop in interest rates.
• European equities ended at their highest close in five months on Thursday, propelled by buoyant banking stocks, as U.S macro data showing the recession was abating helped shares extend their sharp three-month rally.

Macro and Corporate New

• SapuraCrest Petroleum, the oil and gas arm of Sapura Group, is bidding for some RM5 bln worth of contracts, of which more than half comes from within the region.
• Johor Land (JLand) has achieved an acceptance level of 93.83% for its shareholders’ proposed voluntary takeover of the company for RM90 mln.