The Straits Times Index (STI) on Friday ended +24.23 points higher or +0.74% to 3293.73, taking the year-to-date performance to +4.07%. The top active stocks were UOB (+3.58%), DBS (+1.18%), SingTel (+1.04%), OCBC Bank (unchanged) and Global Logistic (unchanged).Here are some stocks and factors to watch this Monday morning:
Singapore’s economy unexpectedly contracted in the second quarter after manufacturing slumped, hurt by a tighter labour supply. Gross domestic product fell an annualised 0.8% in the three months through June from the previous quarter, when it expanded a revised 1.6%, the trade ministry said in a statement today. The median of 17 estimates in a Bloomberg News survey was for a 2.4% gain.
Frasers Hospitality Trust reports that the 45.5 million stapled securities offered to retail investors attracted around $552.7 million worth of applications. This translates into a subscription rate of around 13.8 times.
SPH REIT on Friday posted a distribution per unit (DPU) of 1.35 cents for its third quarter ended May 31, 2014, higher than the 1.31 cents it forecast in its prospectus.
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