MARKET ROUNDUP (Source Bloomberg)U.S. Stocks Rise on Better-Than-Forecast Manufacturing; after a measure of manufacturing beat economists’ forecasts and concern about Europe’s debt crisis eased. The S&P 500 rose 0.3 percent to 1,444.49 at 4 p.m. New York time, trimming a rally of as much as 1.1 percent. The Dow Jones Industrial Average added 77.98 points, or 0.6 percent, to 13,515.11. The Nasdaq- 100 Index fell 0.2 percent to 2,794.28. Volume for exchangelisted stocks in the U.S. was 6.3 billion shares, or 5.6 percent above the three-month average.
European Stocks Rise on Spanish Stress Tests, U.S. Data; as test results showed the stress to the Spanish banking system was less than estimated and as U.S. manufacturing expanded for the first time in four months. France’s CAC 40 rose 2.4 percent. The U.K.’s FTSE 100 added 1.4 percent. Germany’s DAX gained 1.5 percent.
Oil Trades Near One-Week High as U.S. Manufacturing Expands; after a measure of U.S. manufacturing beat economists’ forecasts and concern eased that Europe’s debt crisis will curb demand. Crude for November delivery was at $92.36 a barrel, down 12 cents, in electronic trading on the New York Mercantile Exchange at 9:34 a.m. Sydney time. The contract climbed 0.3 percent to $92.48 yesterday, the highest close since Sept. 21. Prices are down 6.6 percent this year.
CORPORATE NEWS
RM8.5bil new O&G storage facility to be undertaken by Halim Saad’s Armada; to be known as Sabah Oil Terminal, is being planned in Sipitang, Sabah . The sources said that a 1,000-acre site at the Sipitang Oil and Gas Industrial Park has been allocated for this development which would be undertaken by Armada Sdn Bhd beginning next year.
TSR secures grant of up to RM57mil; under a facilitation fund agreement it has sealed with the Government and Bank Pembangunan Malaysia Bhd. In a filing to Bursa Malaysia, TSR said the fund was to facilitate the implementation of its PD Waterfront mixed development project on the beachfront at Port
Dickson town.
StarbIzMAS keeping its options open for Firefly; Firefly now owns the right and efficient aircraft to carry out its role as a short-haul community carrier, an area which it can do well. Firefly, which is the country's first ever community airline, started operations in 2007 with two Fokker F50s, each with a capacity of 50 passengers. It previously operated eight jets, of which six are Boeing 737-800s and two Boeing 737-400s. But in 2011, MAS took over Firefly's jet operations in line with the former's business transformation plan to return to profitability.
Scomi wins Indonesia vessels deal; has scored another win in Indonesia with PT Pertamina Hulu Energi Offshore North West Java ordering three offshore support vessels from it. The RM120 million deal comprises an accommodation barge, a utility vessel and an anchor handling tug boat. The contract is for two years.
Btimes
Source:Jupiter Securities Research, 02 October 2012
