Market News - 19 Aug 2009

U.S. and European Market Roundup

• The DJIA up 82.60 points to 9,217.94 points.
• U.S stocks rose on Tuesday, rebounding after sharp losses in the previous session, as better-than-expected results from big retailers encouraged investors to get back into the market.
• European equities ended higher on Tuesday after hitting a two-week low in the previous session, with stronger crude oil prices supporting energy shares and Swedbank leading the banking sector higher.

Macro and Corporate New

• Malaysia saw manufacturing sales dip 25.5% in June 2009 to RM39.3 bln compared with a year ago, led by a drop in basic iron and steel products.
• Proton Holdings's net profit in the first quarter to June 30 2009 rose marginally to RM54.6 mln from RM52.0 mln a year ago despite the slightly lower sales volume.
• Transmile Group's net loss narrowed to RM449,000 in the second quarter to June 30 this year, from a net loss of RM21.0 mln a year ago. This is helped by unrealised foreign exchange gain of RM11.2 mln on U.S Dollar loans.