U.S. and European Market Roundup
· The DJIA up 104.21 points to 8,848.15 points.
· U.S stocks jumped on Monday, driving the S&P 500 to an eight-month closing high, after CIT Group Inc was thrown a lifeline to avoid bankruptcy, and investors bet corporate America would log another strong set of earnings this week.
· European shares rose for a sixth straight session on Monday to a five-week closing high on further evidence of recovery in the United States and a rescue package for lender.
Macro and Corporate New
· UEM Land Holdings is exploring various funding options including issuance of convertible bonds, to raise funds for its ongoing development activities in Nusajaya, Johor.
· MMC Corp said Salalah Power Holdings Ltd (SPHL) has agreed to divest its 46% interest in Dhofar Power Co SAOG (DPC) to Oman Technical Partners Ltd (OTPL), Oman Power and Water Procurement Co SAOC (OPWP) and Electricity Holding Co (EHC) for about RM124.8 mln.
· AXIS Axis REIT Managers, the manager of Axis Real Estate Investment Trust (REIT), has partially agreed to buy an industrial complex in Klang, Selangor, from Maximum Icon Sdn Bhd (MISB) for RM65 mln.
· BHS Industries Bhd’s wholly-owned unit, BHS Book Printing Sdn Bhd (BBP), plans to sell a 8,510 sq m leasehold industrial land in Cheras, Selangor, to Sin Chee Heng Sdn Bhd (SCH) for RM4.2 mln.
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