UPDATE ON EUROPE
European Union leaders agreed on a plan to toughen the region's budget rules to help restore market confidence after a two-year sovereign debt crisis. But, Europe debt saga is far from over.
Analysts said the current solution is focused more on preventing a future crisis, rather than resolving the current one. This solution is unlikely to calm investors for long.
The concern now is European Central Bank (ECB) is not making the commitment to step up in a big way and buy bonds.
MALAYSIA NEWS
Tun Mahathir Mohamad said Khazanah, which held a 42.74% stake in Proton, would be selling their portion to DRB-Hicom at above market price with general offer likely to be made.
ANALYSTS' TARGET PRICE ON THEIR "BUY" RATINGS
PCHEM = RM6.72 by RHB
