KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Commerzbank is preparing to enter discussions with Italy’s UniCredit after the latter acquired a 9% stake in the German bank. According to sources, Commerzbank will likely assign its CFO Bettina Orlopp to lead the talks when its supervisory board meets next week. UniCredit's move signals its interest in a potential pan-European bank merger , but the talks come with significant political and economic challenges, particularly in Germany, where trade unions fear potential job cuts. Commerzbank’s management is entering these talks out of duty to its shareholders but remains largely opposed to a takeover by UniCredit , one insider revealed. Orlopp, known for navigating Commerzbank through previous tumultuous periods, is expected to steer the discussions, which will focus on the potential implications of a merger and the bank's strategic response. The interest from UniCredit has drawn backlash in Germany, embarrassing the German government, which inadvertently sold part of its Co...