Home THE DAILY EDGE Business STI climbs 0.5% to 2,838.15 at the break
STI climbs 0.5% to 2,838.15 at the break

Tags: Cna Group | Cosco Corp. Singapore | Eunetworks Group | Gloucester Coal | Macarthur Coal | Noble Group | Z-Obee Holdings

Written by Bloomberg   
Wednesday, 23 December 2009 14:50
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Singapore’s Straits Times Index climbed 0.5% to 2,838.15 at the 12:30 p.m. break in Singapore, poised for its first back-to-back gains in two weeks. Almost two stocks climbed for each that fell among the 30 that make up the measure.

CNA Group (CNA SP), a provider of information technology and other related services, added 1.5% to 34 cents after saying it won $18 million of new contracts in Vietnam.
 
Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, fell 0.9%  to $1.08. The Baltic Dry Index, which measures the cost of shipping commodities, declined 2.9% in London yesterday, rounding off a 12-day, 25% drop.
 
EuNetworks Group (EUN SP), an operator of optical fiber networks and infrastructure, rallied 33 % to 2 cents. The company said it plans to raise as much as $92.9 million by selling convertible bonds in a rights issue.
 
Noble Group (NOBL SP), a Hong Kong-based supplier of raw materials and the largest shareholder in Gloucester Coal., jumped 4.7% to $3.15, set for its largest gain since Nov. 9. Macarthur Coal  is bidding A$656 million ($814 million) in cash for Gloucester Coal and is in talks to buy stakes in other mining assets from Noble. Noble will own 23%t of Macarthur after the transactions are completed.
 
Z-Obee Holdings (ZBEE SP), a designer of mobile handsets, tumbled 19% to 19 cents, poised for its largest drop since Dec. 15, 2008. The company said its application for a listing on the Hong Kong stock exchange has been “temporarily suspended” after the exchange yesterday said it will halt listings by introduction unless issuers can show they have taken steps to ensure ample liquidity and an orderly market.
 
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STI climbs 0.5% to 2,838.15 at the break
Wednesday, 23 December 2009

Last Updated on Wednesday, 23 December 2009 14:57