KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia ended higher on Friday as investors continued to accumulate blue-chip stocks in line with stronger performances across most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.50 points to 1,724.90 from yesterday’s close of 1,720.40. The benchmark index opened 0.83 of a point higher at 1,721.23, and moved between 1,715.67 and 1,730.12 throughout the day. The broader market was positive with gainers outpacing losers 707 to 402, while 547 counters were unchanged, 1,085 untraded and 56 suspended. Turnover expanded to 3.03 billion units valued at RM3.56 billion from 2.49 billion units valued at RM2.25 billion on Thursday.
European stocks, after hitting record highs in 2024, face a challenging road ahead as fund managers from Goldman Sachs, BlackRock, and Northern Trust warn of rising risks from a weak economic outlook, uncertain corporate earnings, and the looming US presidential election . BlackRock’s Helen Jewell cautioned that the fragile market could remain volatile, particularly with uncertainty surrounding the US election and a shaky macroeconomic backdrop in Europe, where the eurozone’s private sector has been shrinking and Germany faces a potential contraction. Adding to the uncertainty is the upcoming third-quarter earnings season in mid-October. With consumer demand weakening , early signs suggest that earnings for some major companies, including Novo Nordisk and H&M , may disappoint. Expectations for full-year earnings have already dropped 2.8% since January, and some analysts believe further downgrades are likely. The US election adds another layer of risk, particularly if Donal...