Singapore stocks may fall amid concerns European finance ministers may delay Greece’s bailout and President Barack Obama’s re-election may endanger US tax breaks for investors.
The ST index fell 31.02 points to 3,012.25 on a volume of 1.72 billion shares. There were 114 advances against 306 declining issues by the close of dealings. Here are some stocks and factors to watch:
Singapore palm oil firm Wilmar International beat forecasts with a 26% rise in third-quarter net profit, helped by its sugar business and a rebound at its oilseeds and grains unit after two quarters of losses.
Oversea-Chinese Banking Corp, Singapore's second-largest lender, posted an almost fourfold jump in third-quarter net profit on Friday, boosted by a one-time gain from the sale of stakes in Fraser and Neave and its breweries unit.
Singapore-listed commodities trader Noble Group swung to a third-quarter net profit of US$75 million from a net loss of US$17.5 million a year earlier, helped by its energy business.
The Thai group pursuing Singapore conglomerate Fraser and Neave extended the closing date for its takeover bid to Nov. 22, giving it more time to decide whether it should raise its offer price. The Thais may face a rival bid for F&N from Overseas Union Enterprise, a hotel and property firm controlled by Indonesia's Lippo Group, which said on Wednesday that it will decide by Nov 15 whether or not it will make a counterbid.
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