MARKET ROUNDUP (Source Bloomberg)

Dow Posts Longest Weekly Rally Since October On Jobs Data: as better-than-forecast jobs data erased a four-day drop amid investor disappointment with global stimulus efforts. The S&P 500 added 0.4 percent for the week to 1,390.99. The benchmark index for American equities extended its 2012 gain to 11 percent. The Dow climbed 20.51 points, or 0.2 percent, to 13,096.17, the highest level since May 3.

European Stocks Advance For Ninth Week On U.S. Economy: outweighing comments by the Federal Reserve and the European Central Bank that disappointed investors looking for more definitive steps to support growth. France's CAC 40
Index gained 2.9 percent, the U.K.'s FTSE 100 Index advanced 2.8 percent, while Germany's DAX Index jumped 2.6 percent.

Oil rallies nearly 5% after positive data: spurred by optimism following a positive U.S. jobs report and as Wall Street traded sharply higher and the dollar lost some ground. Crude for September delivery rose $4.27, or 4.9%, to settle at $91.40 a barrel on the New York Mercantile Exchange on Aug. 3.


CORPORATE NEWS
Newfield sets aside RM422m for ops here: NEWFIELD Exploration Company, an independent oil and gas firm based in the United States, has set aside US$135 million (RM422 million) this year to boost exploration and production at its drilling operations offshore Malaysia.

Tadmax's JV to build Papua timber complex: TADMAX Resources Bhd on Friday announced the formation of a joint venture company to establish an integrated timber complex in Papua, Indonesia.

Btimes

Chin Well expanding ops: armed with a strong cashflow of RM 22.9mil, is expanding its range of steel fastener products into South-East Asia and Europe despite the weakening global economic climate.

CPO market expected to be cautious this week: For the week just-ended, the market was weighed down by weaker July palm oil export data, concern over the US' Midwest drought and rainy weather prediction.

StarbIz


Source:Jupiter Securities Research 06 August 2012