Market News - 07 Jul 09

U.S. and European Market Roundup

• The DJIA up 44.13 points to 8,324.87points.
• The Dow rose and the S&P 500 rebounded in late trading on Monday as investors' concerns about the strength of an economic recovery triggered a move into defensive stocks.
• European shares fell for the third straight session on Monday on renewed worries about the sustainability of economic recovery foreseen in recent sentiment surveys on both sides of the Atlantic and in China.

Macro and Corporate New

• LTKM, a poultry company, plans to invest RM15 mln to set up a glass processing plant in Klang, Selangor, to diversify its income base.
• UMW Holdings said a client, PCPP Operating Co Sdn Bhd, has terminated a RM601.8 mln contract for its Naga 2 jack-up drilling rig.