Singapore’s Straits Times Index gained 0.9% to 2,780.84 at the close, erasing losses of as much as 0.3%. Eight stocks rose for each that fell in the index of 30 companies. The following shares were among the most active in the market.
Palm-oil producers: Crude palm-oil futures for December delivery rose as much as 0.9% in Kuala Lumpur today.
Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer by sales, jumped 3.7% to 69.5 cents, the highest close since Aug. 4. Wilmar International (WIL SP), the world’s largest palm-oil processor, added 0.6% to $5.22.
Lian Beng Group (LBG SP), a construction company, gained 2.9% to 35.5 cents. The company said it plans to spin off its engineering and concrete manufacturing businesses and list them on the Taiwan Stock Exchange.
Neptune Orient Lines (NOL SP), Southeast Asia’s biggest container carrier, increased 1.4% to $1.11. The company said it transported 8.4% more cargo in the four weeks to Aug. 26 from a year earlier. Average freight revenue tumbled 20% during the period, it said.
Singapore Airlines (SIA SP), the world’s second- largest carrier by market value, gained 1.3% to US$11.01. The International Air Transport Association raised its 2011 forecast for global airline earnings by 73% because of stronger-than-expected demand in Europe and the Middle East. Carriers will earn US$6.9 billion ($8.7 billion) this year, compared with a June profit forecast of US$4 billion and last year’s US$16 billion, it said.
STX OSV Holdings (SOH SP), the world’s biggest maker of oil-rig support vessels by sales, surged 6.1% to $1.22, the biggest advance since Aug. 15. The company said it won contracts from Aker Seafoods ASA to build three stern trawlers for 750 million Norwegian kroner ($166 million).
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