Market News - 25 Aug 2009

U.S. and European Market Roundup

• The DJIA up 3.32 points to 9,509.28 points.
• U.S stocks ended the day barely changed on Monday as investors took a break from a four-day rally that lifted major indexes to 10-month highs. Wall Street initially charged higher, but a sharp gain in U.S Treasury debt prices, which drove benchmark yields lower, triggered a sell-off in stocks.
• European shares hit their highest closing level in more than 10 months on Monday, boosted by banks and miners, with recent economic data and positive comments from some central banks prompting investors to grab risky assets.

Macro and Corporate New

• Yesterday, Tan bought another 11.23 mln shares, or 18.14%, in GBH for RM16.84 mln, or RM1.50 a share. CIMB said those who had accepted the offer at RM1.25 apiece would be entitled to receive the revised offer price of RM1.50, up from RM1.25 before.
• RHB Capital said its second quarter net profit rose 11% to RM301.53 mln from a year ago, driven mainly by its Islamic banking business.