Market roundup-Bloomberg

S&P 500 Caps Longest Slump in 1 Month on Europe Concerns: dropped a fourth day, the longest decline in a month, as concern Greece's debt crisis is worsening offset better-than-estimated reports on U.S. housing starts and industrial production. The S&P 500 retreated 0.4 percent to 1,324.80 reversing an earlier advance of as much as 0.8 percent. The Dow Jones Industrial Average decreased 33.45 points, or 0.3 percent, to 12,598.55, the lowest level since Jan. 18.

European Stocks Extend Four-Month Low Amid Greek Concern: dropped for a third day, to their lowest level this year, amid growing concern Greece will be forced to leave the euro area. The U.K.'s FTSE 100 fell 0.6 percent, Germany's DAX dropped 0.3 percent and France's CAC 40 increased 0.3 percent.

Oil, Gold Slide as Dollar Gains on Greece: Oil slid to a six-month low and gold declined as the Dollar Index extended a record-long rally amid concern Greece's financial crisis is worsening. Crude for June delivery fell 1.2 percent to settle at $92.81 a barrel while gold approached a bear-market drop of 20 percent from last year's record.

Corporate News
SapuraKencana needs US$1-1.5b new jobs a year: which makes its debut on Bursa Malaysia today, will need to replenish US$1 billion to US$1.5 billion of new jobs every year to sustain a healthy backlog for the newly merged entity.

Hektar REIT gets nod to increase fund size: Approval was also given for the valuation of two retail properties totalling RM184 million in Kedah to be acquired by Hektar REIT, namely the Landmark Central Shopping Centre and a major portion of Central Square Shopping Centre. JCY starts ops at 2nd China factory: The new factory costs RM36 million to build and another RM9 million to fit out and furnish.

-SunBiz


HLB earnings soar on merger with EON Capital: net profit for its third quarter ended March 31 rose 60.5% to RM465.1mil from RM289.7mil a year earlier.

MISC net loss widens in Q1: suffered a net loss of RM465.08mil in its first quarter ended March 31 compared with a net loss RM307.88mil a year earlier.

Tradewinds Q1 earnings down: net profit for its first quarter ended March 31 fell sharply by 91% to RM4.34mil from RM48.63mil

 -StarBiz

KrisAssets posts higher Q1 pre-tax: registered a higher pre-tax profit of RM1.357 billion in the first quarter ended March 31 compared with RM54.269 million in the same period last year.

Media Prima outlook strong despite Q1 setback: net profit and revenue for the first quarter ended March 2012 fell 40.4 per cent and 5.3 per cent to RM20.8 million and RM335.3 million, respectively.

BSN net income jumps to RM1.03b: as posted a higher net income of RM1.03 billion for its financial year ended December 31 2011 compared with RM968 million in the same period previously.

-Btimes


Source:Jupiter Securities Research 17 May 2012


-StarBiz-StarBiz

Source:Jupiter Securities Reasearch 17 May 2012