KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Rolls-Royce (UK:RR) extended its remarkable rally on Thursday, raising its underlying operating profit guidance to a midpoint of £3.15B (from £2.8B) and upgrading free cash flow expectations. Shares of the British engine maker surged 9% to a fresh all-time high , with its five-year return now averaging 64% annually , second only to Nvidia’s (NVDA.US) 76% among major global names. Key Drivers: Civil Aviation: “Strong” large engine aftermarket demand continues to power recovery in aviation. Power Systems: Boosted by data center expansion and government contracts. Military Demand: Stable defense business providing earnings resilience. Analyst Expectations: Street consensus had forecast £2.87B underlying operating profit. Free cash flow is now expected to exceed prior guidance. Market Context: Rolls-Royce has been one of the UK market’s standout performers, benefiting from post-pandemic aviation recovery and growth in mission-critical po...