U.S. and European Market Roundup
· The DJIA up 21.39 points to 9,605.41 points.
· U.S stocks rose on Monday, bounced back from early losses to post moderate gains as traders funneled money into utility and financial companies and reports of more merger activity added to a string of recent deals, suggesting investors still see value in the market after its runup of more than 50% since March.
· European shares fell on Monday, snapping six consecutive days of gains, as weaker banks and energy shares outpaced positive food producers, while a U.S-China trade row also hurt sentiment.
Macro and Corporate New
· Managing Director Datuk Syed Zainal Abidin Syed Mohamed Tahir is speculated to have been considering a management buyout (MBO) of Proton.
· Airasia, is expected to raise up to RM665 mln in a new share placement as it seeks to cut its debt. Demand for full-fare carriers has been hit by the economic downturn, which has given a boost to discount airlines.
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