Market News - 25 June 2009

U.S. and European Market Roundup

• The DJIA down 23.05 points to 8,299.86 points.
• The Dow fell for the fourth day and other indexes ended well off the day's highs after the Federal Reserve reiterated concerns about the economic outlook at the end of its policy meeting.
• European shares closed higher on Wednesday, led by financials after the biggest-ever liquidity injection by the European Central Bank boosted hopes that the effort could help pull the euro zone economy out of a recession.
• Berjaya Media's (BMedia) net profit for the 16 months ended April 30 amounted to RM36.7 mln mainly due to the operating profit contributed by its unit SunMedia Corporation Sdn Bhd and also the recognition of exceptional gain arising from the disposal of Edge Communications Sdn Bhd.

Macro and Corporate New

• Developer MK Land Holdings is partnering two other companies for a RM3.0 bln residential development project in northern Bangalore, India.
• Malaysian Resources Corp (MRCB) will be launching its property brand and unveil the second phase of its pioneer project at Bandar Seri Iskandar in Perak on Saturday.