The Singapore market recovered from earlier losses at the end of yesterday’s trading, finishing slightly higher. The key Straits Times Index rose 0.41% to 2,873.91. In the broader market, gainers edged out losers by just five counters.

Last night, the S&P 500 hit a 17-month closing high as rising bank shares led a late rally that lifted US stocks, more than offsetting worries China may move to cool its overheating economy. The Dow Jones industrial average gained 0.42%, to 10,611.84. The Standard & Poor’s 500 Index rose 0.40% to close at 1,150.24.

Here are some stocks and factors to watch:

Fortis Healthcare, India’s fastest-growing healthcare company, has announced the acquisition of a 23.9% strategic stake in healthcare service provider Parkway Holdings from TPG Capital (formerly Texas Pacific Group). Parkway has a network of 16 hospitals having 3,400 beds spread over six countries, including India. The deal size is estimated to be about US$685.3 million ($959.4 million).

Rig builder Sembcorp Marine said wholly-owned subsidiary Jurong Shipyard secured a $130 million contract to carry out pre-conversion works on the Very Large Crude Carrier (VLCC) for Petrobras Netherlands B.V.

Crane operator Sin Heng Heavy Machinery reported a 34.2% drop in income to $10.4 million for the six months ended 31 December 2009 on an 11.2% decline in revenue to $71.2 million. It is  recommending an interim dividend of $0.45.

Shipbuilder Cosco Corporation (Singapore) said a unit had agreed to cancel a shipbuilding contract for an 80,000 dwt bulk carrier. Construction of the vessel has not commenced and as part of the agreement to cancel the order for the vessel, the buyer has paid compensation to Cosco. Another unit also announced the delay delivery of four other vessels. Meanwhile, SGX said CapitaMalls Asia will replace Cosco on March 22 as a constituent of the Straits Times Index (STI) following the conclusion of the half-yearly review.

Xpress Holdings, the printer of financial reports, recorded revenue of $12.95 million for the 3 months ended 31 January 2010 (2Q2010), or 2.9% higher than the $12.59 million in 2Q2009. Net profit was $0.57 million or 15.9% higher than the S$0.49 million achieved in 2Q09.

Ryobi Kiso Holdings, the piling and underground structure specialist, said revenue for 2Q10 was $26.5 million compared with $34.3 million in 2Q09, a decline by $7.8 million or 22.5%.

Burwill Holdings said it had entered into a private placement of its shares for a total of HK$184 million ($33 million), at HK$0.605 per share, representing 8.98% of the existing issued share capital of the company and 8.24% of the issued share capital of the company as enlarged by the placing.

Guanzhao Industrial Forest Biotechnology Group said its sales for the year ended 31 December 2009 dipped 39% to RMB13.174 million ($2.7 million) compared to the year before. The loss attributable to shareholders narrowed to RMB 31.246 million as compared to a loss of RMB223.202 million the year before.