Singapore’s Straits Times Index fell 0.8% to 3,051.49 as of the 12:30 p.m. trading break, heading for a 0.3% decline this week. All but two stocks in the benchmark index of 30 companies declined.
Shares on the measure trade at an average 14 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg. The following shares were among the most active in the market.
Shares on the measure trade at an average 14 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg. The following shares were among the most active in the market.
Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, fell 1.6% in New York yesterday, extending its decline for a third day.
Noble Group (NOBL SP), a Hong Kong-based commodities supplier, dropped 1% to $2.04. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, sank 3% to $2.62.
CapitaMall Trust (CT SP), Singapore’s biggest retail property trust, slipped 1.6% to $1.80 after the company increased the size of its convertible bond sale to $250 million from $200 million because of strong demand. The fund-raising exercise was “a rather unnecessary move” as CapitaMall trust had about $713 million cash as of Dec. 31 and a gearing of about 38%, JPMorgan Chase & Co. analysts Joy Wang and Christopher Gee wrote in a note to clients today.
Keppel Corp. (KEP SP), the world’s biggest builder of oil rigs, gained 0.9% to $11.92. The company said its Keppel Offshore & Marine unit won two contracts valued at $170 million from Saipem SpA (SPM IM) and Bumi Armada (BAB MK). The stock fell 1.5% to $11.82.
SMRT Corp. (MRT SP): Singapore’s biggest commuter train operator slipped 0.5% to $1.92. Global Logistic Properties (GLP SP), the logistics company whose customers include Wal-Mart China and FedEx Corp., will replace SMRT on the benchmark Singapore index effective March 21, according to a statement by the Singapore Exchange (SGX SP), Singapore Press Holdings (SPH SP) and FTSE International Global Logistics lost 1.5% to $1.93.
Swiber Holdings (SWIB SP), a provider of offshore logistic services, climbed 1.9% to 82.5 cents. The company said it won a contract valued at US$125 million ($159 million) to install a subsea pipeline and perform platform modification works for an unnamed customer in South Asia.
No comments:
Post a Comment