Market News - 26 Jun 2009

U.S. and European Market Roundup

• The DJIA up 172.54 points to 8,472.40 points.
• Investors rushed back into stocks as profits at a handful of companies indicated the economy might be gaining strength.
• European shares closed lower on Thursday as banks and drugmakers fell and investor sentiment was hit by data showing the number of U.S workers filing new claims for jobless benefits unexpectedly rose last week

Macro and Corporate New

• Gamuda's third-quarter profits dropped by 40% to RM46.30 mln because of lower contribution from construction, property development and infrastructure concessions. In the three-month period ended April 30, the builder posted RM579.37 mln revenue from RM574.70 mln a year ago.
• Petra Perdana is allocating some RM1.09 bln to buy 14 new vessels that are due to be delivered within the next 18 months.