MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Fall as Alcoa Slumps Amid Earnings Concern; as Alcoa (AA) Inc.'s forecast fueled concern over corporate earnings and global economic growth. The S&P 500 slipped 0.6 percent to 1,432.56 in New York. The benchmark gauge fell 1 percent yesterday, and is down 2 percent over four days. The Dow Jones Industrial Average lost 128.56 points, or 1 percent, to 13,344.97. More than 5.9 billion shares changed on U.S. exchanges today, about 1.5 percent below the three-month average.

European Stocks Decline for a Third Day; AB InBev Falls; as investors speculated that economic fundamentals don't justify current stock valuations and Alcoa Inc. (AA) cut its forecast for global aluminum demand. The U.K.'s FTSE 100 slipped 0.6 percent, while Germany's DAX retreated 0.4 percent and France's CAC 40 declined 0.5 percent.

Oil Falls on Expectations of Gain in U.S. Supply Report; for the first time in three weeks and concern that a weaker economy will curb demand for commodities. Oil for November delivery decreased $1.14 to settle at $91.25 a barrel on the New York Mercantile Exchange. The contract increased $3.06 yesterday to $92.39, the highest settlement since Oct. 1. Prices are down 7.7 percent this year.


CORPORATE NEWS

CPO stocks jump to record high on weaker exports; Crude palm oil stocks jumped 17.4% to a record of 2.48 million tonnes September compared with August as exports fail to keep up with production that surged to an all time high of two million tonnes . Exports rose by 4.5% to 1.5 million tonnes last month according to Malaysian Palm Oil Board (MPOB) monthly statistic data released yesterday.

Malton unit to develop Penang land; wholly-owned subsidiary Silver Setup Sdn Bhd (SSSB) has entered into a jointdevelopment agreement with Batu Kawan Development Sdn Bhd to jointly develop a 300-acre piece of land in Batu Kawan, Penang into a mixed commercial and residential development with a gross development value of RM3.8bil.

StarbIz

'MAS-LSGB catering deal intact'; Brahim's Holdings Bhd says the catering agreement between its unit LSG Sky Chefs- Brahim's Sdn Bhd (LSGB) and Malaysian Airline System Bhd (MAS) remains intact.It said any operational issues will be reviewed and resolved progressively within the framework of the existing catering agreement. "Upon discussions with the representatives of MAS, Brahim's is pleased to inform that there are no substantial issues at the shareholders' level with MAS in respect of the catering agreement," it said.

Pesona ends 20pc higher on debut; Pesona Metro Holdings Bhd, a construction company, made its debut on the Main Market of Bursa Malaysia yesterday at 46.5 sen for a 86 per cent premium, with 2.9 million shares traded. The company, which took over the listing status of Mithril Bhd, saw its shares close at 30 sen, or 20 per cent above its initial price offer of 25 sen. Pesona, which raised RM10 million from the listing exercise via the issuance of 400 million new shares at 25 sen each, plans to invest in technologies like industrialised building systems (IBS).

Btimes

Source:Jupiter Securities Research, 11 October 2012