MARKET ROUNDUP (Source Bloomberg)

Most U.S. Stocks Fall On FedEx, Economy Ahead Of ECB Plan: amid a slump in FedEx (FDX) Corp. and disappointing global economic data as investors awaited the European Central Bank's plan to buy bonds. The S&P 500 lost 0.1 percent to 1,403.44 at 4 p.m. New York time, after rising as much as 0.3 percent earlier. The Dow Jones Industrial Average added 11.54 points, or 0.1 percent, to 13,047.48. About five shares fell for every four that advanced on U.S. exchanges, with volume at 5.7 billion shares, or 6.4 percent below the three-month average.
European Stocks Swing Between Gains, Losses Before ECB: as investors await tomorrow's European Central Bank meeting. The U.K.'s FTSE 100 Index fell 0.3 percent. France's CAC 40 gained 0.2 percent and Germany's DAX rose 0.5 percent.

Oil Gains A Second Day As U.S. Stockpiles Drop Most Since July: after a report showed stockpiles declined the most in five weeks in the U.S., the world's biggest crude consumer. Oil for October delivery gained as much as 70 cents to $96.06 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.79 at 9:27 a.m. Sydney time. The contract climbed 6 cents yesterday to close at $95.36. Frontmonth prices are down 3.1 percent this year.

Gold To Fall As Stronger Dollar Curbs Investment Demand: Gold futures declined for the first time in three sessions. The ECB was said to propose unlimited government-debt purchases that will be sterilized, ensuring a neutral impact on the money supply by removing funds from elsewhere in the banking system. Gold futures for December delivery fell 0.1 percent to settle at $1,694 at 1:41 p.m.


CORPORATE NEWS

A&W sale to put KUB back in black: expects to return to the black this financial year ending December 2012 with the sale of its entire stake in A&W Restaurants (Thailand) Ltd Co and A&W (Malaysia) Sdn Bhd.

Singapore REITs yield world's best returns: Singapore's US$38 billion (RM118.18 billion) REIT market has returned an average 37 per cent in 2012, twice the gains in the US, the UK and Japan, according to data compiled by Bloomberg.

Btimes

JCY tumbles 9% on outlook, weak market: combination of a weak broader market and gloomy semiconductor outlook hurt investor sentiment towards the hard disk drive (HDD) maker.

Westports' capacity expansion: poised to handle about nine million containers of twenty-foot equivalent units (TEUs) once its new 600-metre wharf is ready by 2014.

StarbIz


Source:Jupiter Securities Reasearch 06 September 2012