MARKET ROUNDUP (Source Bloomberg)

S&P 500 Erases Drop As M&A Deals Temper Manufacturing: as takeovers helped the market recover from earlier losses triggered by data showing a contraction in manufacturing. The S&P 500 rose 0.3 percent to 1,365.51, after dropping as much as 0.5 percent earlier. The index gained 4 percent last month, its best June since 1999. (SPX)The Dow Jones Industrial. Average retreated 8.7 points, or 0.1 percent, to 12,871.39. Volume for exchange-listed stocks in the U.S. was 6.2 billion shares, 9 percent below the three-month average.

European Stocks Advance As Investors Eye ECB Decision: as investors bet central banks will add to measures unveiled by the region's governments to contain the sovereign-debt crisis and data from China and Japan fueled optimism Asia will drive global growth. France's CAC 40 climbed 1.4 percent and the U.K.'s FTSE 100 added 1.3 percent. Germany's DAX increased 1.2 percent.

Oil Drops As U.S. Manufacturing Shrinks In June: unexpectedly shrank in June for the first time in almost three years. Crude for August delivery decreased $1.21 to settle at $83.75 a barrel on the New York Mercantile Exchange. Prices climbed $7.27 on June 29 to $84.96. The percentage gain was the biggest since March 12, 2009. Oil is down 15 percent this year.

CORPORATE NEWS

1,000 Petronas stations by October: Petronas Dagangan Bhd (PDB), the domestic marketing arm of Petroliam Nasional Bhd (Petronas), expects its Petronas stations in the country to surpass 1,000 outlets by October from 977 currently. PDB and epay have signed a nine-year extension agreement to provide electronic payment services for mobile reloads, online games top-ups, event tickets and bill payment collection at all Petronas stations. The agreement was renewed following 11 years of partnership. Of the 977 Petronas stations nationwide, over 800 are being serviced by e-pay terminals, bringing a revenue of RM30 million a month for e-pay.

SunBiz

Firefly targets tourists with new routes: Firefly is targeting foreign tourists for its two new routes, Kota Bharu-Singapore and Penang-Koh Samui beginning this August 10 and 11. Apart from that, the airline will also restart its Subang-Hat Yai route on August 17. Firefly is offering special airfares price from RM99 (one way) for the Kota Bharu-Singapore and Subang-Hat Yai routes and RM199 (one way) for Penang-Koh Samui route. These promotional rates are for bookings made from July 2 until July 15 for travel starting from their respective
commencement dates to March 30 next year.

Btimes

Cypark posts higher Q2 earnings and revenue: Integrated renewable energy power producer Cypark Resources Bhd posted a 25% higher net profit of RM7.8mil for the second quarter of its financial year ending Oct 31, 2012, while revenue
increased 6.5% to RM43.6mil. Its pre-tax profit surged 33% during the period to RM10.1mil from RM7.6mil.

Rebranding of Esso stations to complete this year: All of Esso Malaysia Bhd's 120 petrol stations nationwide will be rebranded with the Petron name by year-end. Some of them have already gotten their new look. The Philippinesbased Petron Corp, part of the San Miguel Corpconglomerate, is now Esso Malaysia's biggest shareholder with a 73.4% stake. Petron triggered a mandatory general offer for Esso Malaysia shares after buying ExxonMobil International Holdings Inc's 65% stake in Esso Malaysia.

StarBiz

Source:Jupiter Securities Research 03 July 2012