Thursday, December 30, 2010

STI flat at 3,208.95 as of 9:50 a.m.

Singapore’s Straits Times Index was little changed at 3,208.95 as of 9:50 a.m. Six stocks gained for every five that fell on the benchmark index of 30 companies.

Shares on the measure trade at an average 15.7 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg.

The following shares were among the most active in the market. Stock symbols are in parentheses after the company name.

Palm-oil producers: Crude palm-oil futures for March delivery declined 1.2% in Kuala Lumpur yesterday.

First Resources
(FR SP), an Indonesian palm plantation company, declined 1.3% to $1.54. Golden Agri-Resources (GGR SP), the world’s second-biggest palm-oil producer, fell 0.6% to 80 cents.

Starhub (STH SP), Singapore’s second-largest phone company, gained 0.4% to $2.66. The company said it will provide telecommunications and entertainment services at Marina Bay Sands, Las Vegas Sands Corp.’s Singapore casino-resort.

Wilmar International (WIL SP), the world’s biggest palm-oil trader, slipped 0.9% to $5.64. The company said it’s jointly bidding for a site in China’s Yingkou City with Kerry Properties and Shangri-La Asia Wilmar holds 35% of the joint venture and the investment amount for the group is expected to be as much as 7.5 billion yuan ($1.46 billion).


No comments:

Post a Comment