MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Fall For 4th Day As ECB's Draghi Disappoints: after European Central Bank President Mario Draghi failed to reassure investors on immediate efforts to bolster the ec. The S&P 500 lost 0.7 percent to 1,365, dropping 1.5 percent in four days. The Dow Jones Industrial Average declined 92.18 points, or 0.7 percent, to 12,878.88. Volume for exchange-listed stocks in the U.S. was 7.3 billion shares, or 8.6 percent above the three month average.


European Stocks Decline As Draghi's Comments Disappoint: as European Central Bank President Mario Draghi's comments disappointed investors seeking more definitive measures to stimulate the region's economy. The U.K.'s FTSE 100 Index slid 0.9 percent, France's CAC 40 Index declined 2.7 percent and Germany's DAX Index retreated 2.2 percent.

Oil Drops As Draghi Stops Short Of Detailing Bond Plan: after European Central Bank President Mario Draghi failed to give details of a plan designed to shore up the euro by curbing rising government borrowing costs in the region. Oil for September delivery fell $1.78 to settle at $87.13 a barrel on the New York Mercantile Exchange. Prices have declined 12 percent this year.

CORPORATE NEWS

Hua Yang sees RM872m revenue from BUSI: expects to generate a revenue of some RM872 million, which would keep them busy for the next 12 years at the 196ha site in the fast developing Bandar Universiti Seri Iskandar (BUSI). Japan Airlines Q1 net profit doubles: which just two-and-ahalf years ago went bankrupt in one of the country's worst corporate failures, said yesterday first quarter net profit more than doubled to 26.9 billion yen (RM1.1 billion).

MHB net profit slips to RM55m in 2nd quarter: posted a lower net profit of RM55.53 million for the second quarter ended June 30 2012 from RM79.29 million net profit last year. MHB said the lower profit in the second quarter was due to ongoing offshore projects, having past the preliminary stage to allow profit recognition on the progress made in the preceding quarter.

Btimes


Hibiscus to raise RM210mil via private placement: two of its existing shareholders will be increasing their shareholdings by subscribing to this exercise. The proceeds raised would only be utilised in relation to acquisitions or investments in development or production assets which may include potential exploration upside and associated transaction and other costs.

Ingress wins RM25mil automotive contracts: It received a contract from Isuzu Motors Co (Thailand) Ltd for the supply of roof moulding for a new model through its subsidiary in Thailand, Ingress Autoventures Co Ltd (IAV). The project is
expected to commence towards the end of the third quarter of financial year ending Jan 31, 2014 with a project duration of seven years.

StarbIz


Source:Jupiter Securities Research 03 August 2012