MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Rise on Economic Reports Amid Draghi Comments; as reports on jobless claims and factory orders were better than forecast and the European Central Bank said it stands ready to buy bonds. The S&P 500 increased 0.7 percent to 1,461.40 at 4 p.m. in New York. The benchmark index for American equities has rallied 1.4 percent this week. The Dow Jones Industrial Average rose 80.75 points, or 0.6 percent, to 13,575.36 today. Volume for exchange-listed stocks in the U.S. was 6.1 billion shares, or 2.2 percent above the three-month average.

European Stocks Close Little Changed; Halfords Rallies; as the European Central Bank and the Bank of Englandleft their benchmark interest rates on hold. Germany's DAX fell 0.2 percent and France's CAC 40 declined 0.1 percent. Britain's FTSE 100 was little changed.

Oil Falls After Surging on Middle East, Heads for Weekly Decline; on speculation the biggest gain in two months yesterday was exaggerated amid rising supplies. Crude for November delivery fell as much as 32 cents to $91.39 a barrel and was at $91.48 in electronic trading on the New York Mercantile Exchange at 8:47 a.m. in Tokyo. The contract rose $3.57 to $91.71 yesterday. Prices are down 0.8 percent this week and 7.4 percent this year.


CORPORATE NEWS

Malaysia Airlines charts course for next 20; Interestingly at 40, there is still talk that MAS may be taken private once again. There is a long-standing rumour that MAS parent Khazanah Nasional Bhd would want to do a 'Proton' i.e. sell its MAS shares to a businessman. Some say the suitors may include Middle Eastern investors. Others say Tan Sri Ahmad Johan of Nadi Sdn Bhd is keen to acquire a stake in MAS. His name has long been linked with a possible MAS sale, but it should be noted that he has partnered Indonesia's Lion Air to set up Malindo Airways, a low-cost airline that will begin operations on May 1 from KLIA2.

Malaysia aims to maintain cocoa export revenue; Malaysia aims to maintain its cocoa export revenue of over RM4.2bil this year despite the slowdown in production, according to Malaysian Cocoa Board director-general Dr Lee Choon Hui. The slowdown in production was due to El Nino phenomenon and that some of the farmers have started to switch to other crops like palm oil,' he told a media briefing yesterday.

StarbIz


Pestech lands Sg Siput works deal; wholly owned subsidiary Mega Linear Sdn Bhd will undertake the supply and build and commission of 132 KV and 33 KV switchgear, transformer and ancillary equipment with associated civil works for the Bukit Siput extension in Johor.

Emico unit inks RM8.6m land pacts; wholly owned subsidiary, Emico Development Sdn Bhd has signed three sale and purchase agreements with Gre-East Builders Sdn Bhd for the proposed disposal of several pieces of land owned by Emico for RM8.6 millon cash.

Btimes

Source:Jupiter Securities Research, 5 October 2012