MARKET ROUNDUP (Source Bloomberg)
Dow Caps Biggest Gain In One Month Amid Draghi's Pledge: after European Central Bank President Mario Draghi pledged to defend the euro. Seven stocks rose for every three falling on U.S. exchanges. The Standard & Poor's 500 Index added 1.7 percent to 1,360.02. It fell 2.8 percent over the previous four days. The Dow gained 211.88 points, or 1.7 percent, to 12,887.93. Volume for exchange-listed stocks in the U.S. was 7.7 billion shares, or 15 percent above the three-month
average.
European Stocks Rally As Draghi Pledges To Preserve Euro: after European Central Bank President Mario Draghi said policy makers will do whatever it takes to preserve the euro. The U.K.'s FTSE 100 gained 1.4 percent, France's CAC 40
jumped 4.1 percent and Germany's DAX climbed 2.8 percent.
Oil Rises For Third Day On U.S. Economy, Euro Pledge: as U.S. reports on durable goods and jobless claims reduced concern that economic growth is slowing, and the head of the European Central Bank pledged that the euro will survive. Crude for September delivery rose 42 cents to settle at $89.39 a barrel on the New York Mercantile Exchange. Prices have increased 15 percent from the year's closing low of $77.69 a barrel on June 28.
CORPORATE NEWS
AirAsia, partner buy Indonesia's Batavia Air: LOW-cost carrier AirAsia Bhd and its Indonesian partner PT Fersindo Nusaperkasa (Fersindo) have acquired PT Metro Batavia that operates the Indonesian airline, Batavia Air and Aero Flyer Institute, an aviation training school for RM253 million. Batavia Air, founded in 2002, operates a fleet of 33 aircraft. This includes 15 Boeing B737-300s, nine Boeing B737-400s, one Boeing B737-500s, one Airbus 321, five Airbus A320s and two Airbus 330s.
Parkson buys into Sri Lanka fashion retailer: Parkson Holdings Bhd's 67.61 per cent unit, Parkson Retail Asia Ltd, plans to buy a 41.82 per cent stake, or 60.6 million shares, in Sri Lanka's fashion retailer Odel plc from the Gunewardene family for S$13.6 million (RM34.27 million).
Btimes
Tasek Q2 profit falls 4.4% on weaker concrete business: Revenue was flat at RM139.73mil compared with RM138.57mil.It declared an interim dividend of 30 sen a share. As of the period, the company has RM446.14mil in cash.
Menang Corp unit bags training centre concession: has entered into a concession agreement with the Higher Education Ministry and University Teknologi MARA to undertake the proposed building of Institut Latihan UiTM Nilai in Negeri
Sembilan on a private finance initiative (PFI) basis of RM101mil.Upon completion of the facilities and infrastructure, PESB will receive availability charges of approximately RM1.3mil monthly in arrears for the project from UiTM over the lease period of 20 years.
BizTheStar
Tasek Q2 profit falls 4.4% on weaker concrete business: Revenue was flat at RM139.73mil compared with RM138.57mil.It declared an interim dividend of 30 sen a share.As of the period, the company has RM446.14mil in cash.
Menang Corp unit bags training centre concession: has entered into a concession agreement with the Higher Education Ministry and University Teknologi MARA to undertake the proposed building of Institut Latihan UiTM Nilai in Negeri
Sembilan on a private finance initiative (PFI) basis of RM101mil. Upon completion of the facilities and infrastructure, PESB will receive availability charges of approximately RM1.3mil monthly in arrears for the project from UiTM over the lease period of 20 years.
BizTheStar
Source:Jupiter Securities Research 27 July 2012