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.
French luxury powerhouse Kering SA , the owner of Gucci , is close to finalizing the sale of its beauty division to L’Oréal , according to people familiar with the matter. The deal, reportedly valued at around US$4 billion (RM16.9 billion) , could be announced as soon as next week. If completed, the acquisition would give L’Oréal , the world’s largest beauty conglomerate, control of fragrance house Creed and rights to develop cosmetics and perfumes for Kering’s high-end fashion labels including Bottega Veneta, Balenciaga, and Alexander McQueen . The move would further strengthen L’Oréal’s dominance in the luxury beauty segment, complementing its existing portfolio that includes brands like Yves Saint Laurent Beauté and Giorgio Armani Beauty. A Strategic Move for Kering The sale represents a significant step for Kering’s new CEO Luca De Meo , who took office in September. De Meo’s top priority has been to addre...