Market News - 09 Oct 2009

U.S. and European Market Roundup 

·  The DJIA up 61.29 points to 9,786.87 points.

·  Investors cheered a stronger-than-expected earnings report from aluminum giant Alcoa as it swung to a surprise profit during the third quarter, which snapped a three-quarter losing streak. 

·  The Dow rose 61.29, or 0.6%, to 9,786.87 while the Standard & Poor's 500 index rose 7.90, or 0.8%, to 1,065.48. Bond prices fell, pushing yields higher.

 

 

 

Macro and Corporate New

·  Pelabuhan Tanjung Pelepas Sdn Bhd (PTP) is planning to raise some RM1.5 billion from the sale of government-guaranteed Islamic bonds.

·  Top Glove Corp Bhd more than doubled its fourth-quarter net profit, driven by strong demand for its products amid the ongoing flu scare.

·  Changhuat Corp Bhd, a maker of plastic parts, is investing RM26 million to buy the remaining 37% shares in oil and gas group Arus Demaga Sdn Bhd (ADSB).

 

Market News - 06 Oct 2009

U.S. and European Market Roundup 

·  The DJIA up 112.08points to 9,487.67 points.

·  U.S stocks added to gains on Monday, pushing the Nasdaq and Standard & Poor's 500 indexes up more than 1% on positive economic data, as financials rose following positive broker comments on banks. 

·  European shares ended 0.8% higher on Monday as better-than-forecast data in the United States and Europe helped lift banks, while telecoms were boosted by merger activity between Telenor and Alfa Group.

  

Macro and Corporate New

·  Bina Puri Holdings, one of the largest construction groups in the country, has won a RM185 mln contract from Mayland View Sdn Bhd to build a 38-storey serviced apartment building in Jalan Kuching, Kuala Lumpur.

·  KNM Group , through subsidiaries - FBM-KNM FZCO, KNM Process Systems Sdn Bhd (KNMPS) and Borsig Boiler Systems GmbH - has secured new orders from international clients amounting to RM155 mln.

 

Market News - 05 Oct 2009

U.S. and European Market Roundup 

·  The DJIA down 21.61points to 9,487.67 points.

·  The Dow Jones industrial average fell for a fourth day, losing 22 points one day after sliding 203 on reports of weak manufacturing and a jump in claims for jobless benefits. 

 

Macro and Corporate New

·  Tenaga Nasional Bhd and Argentina's giant energy firm Impsa have forged an alliance here to create an IPP run by wind generated turbines. The IPP is formed to reduce TNB's high dependency on depleting fossil fuels as well as cut cost in capacity payments to the current IPPs.

·  Proton Holdings Bhd’s Chairman Datuk Mohd Nadzmi Mohd Salleh said Proton does not need a foreign partner to survive, stressing that it still has the upper hand in any collaboration talks.

·  Tradewinds Corp Bhd expects property development to start contributing significantly to its revenue sometime between 2011 and 2012.

 

Market News - 02 Oct 2009

U.S. and European Market Roundup 

·  The DJIA down 203.00 points to 9,509.28 points.

·  The Dow and S&P 500 suffered their worst one-day fall in three months on Thursday after economic reports fueled fears about the recovery's strength. 

·  European equities hit a three-week closing low on Thursday, a day after recording the best quarterly gains in a decade, with a slew of poor data reigniting worries about the pace of economic recovery.

 

Macro and Corporate New

·  Pilgrims fund Lembaga Tabung Haji (Tabung Haji) stands ready to provide the necessary funds to support Bank Islam Malaysia's growth plans, especially in Indonesia, now that the lender's Dubai investor cannot be counted on for financial support.

·  Proton Holdings expects to sell 10% more cars than it forecast in the UK this year, thanks to a large base of repeat customers and a growing market for cars that use liquefied petroleum gas (LPG) as fuel.

 

Market News - 01 Oct 2009

U.S. and European Market Roundup 

·  The DJIA down 29.92 points to 9,712.28 points.

·  U.S stocks fell on Wednesday after a surprising contraction in an index of Midwest business activity, but buying of technology bellwethers like Cisco Systems Inc at the end of a strong quarter limited losses. 

·  European shares climbed 17.3% in the July-September period, the best quarterly gains in almost a decade, against an 11.5% decline in the third quarter of last year.

  

Macro and Corporate New

·  Tanjong Plc said its net profit rose 32.8% to RM181.5 mln from RM136.7 mln for the second quarter to July 31 2009 due to improved topline performances in all business segments including power generation, gaming and leisure segments.

·  Pernec Corp, a unit of Permodalan Nasional Bhd (PNB), targets revenue to reach RM400 mln this year, helped by its revitalised payphone business.