Market News - 27 Jul 2009

U.S. and European Market Roundup

• The DJIA up 23.95 points to 9,093.24 points.
• U.S stocks rose, completing the steepest two-week rally for the Dow Jones since 2000, as companies beat profit estimates and an increase in home resales signaled an economic recovery may be underway with gains in pharmaceutical and energy shares lifted the Dow and the S&P 500 to fresh 8-month closing highs.
• European equities ended a shade lower on Friday after advancing for nine straight sessions, with weaker technology stocks overshadowing gains made by financial shares

Macro and Corporate New

• YLI Holdings, one of the country's largest manufacturers of ductile iron pipes, expects its performance to be slightly affected this year due to lower pipe sales, says chairman Tan Sri Syed Mohd Yusof Syed Nasir..
• Packet One Networks Sdn Bhd, a subsidiary of Green Packet and Malaysia's first telco to provide WiMAX services network, plans to expand its business in India but is not bidding for a spectrum licence there.