Singapore’s Straits Times Index gained 0.5% to 3,003.01 as of the 12:30 p.m. trading break. Almost three stocks advanced for each that fell on the 30-member gauge.

Shares on the measure trade at 15.2 times estimated earnings, compared with about 17.5 times at the beginning of the year, according to Bloomberg data. The following shares were among the most active in the market. 

 

Commodity suppliers: The Reuters/Jefferies CRB Index, which tracks prices of 19 commodities including corn and copper, gained 0.7% in New York on April 23, taking a four-day advance to 2.1%. Noble Group (NOBL SP), a Hong Kong- based commodity supplier, rose 1% to $3.10. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, gained 1.1% to $2.66.

 

Rig builders: Crude oil traded above $85 a barrel on speculation demand will increase as the world economy recovers from recession.

 

Keppel Corp. (KEP SP), the world’s biggest builder of oil rigs, climbed 3.6% to $10.42, set for its highest close since Aug. 11, 2008. Its smaller rival SembCorp Marine (SMM SP) advanced 3.5% to $4.48. Shares of the two companies posted the biggest advances on the benchmark Straits Times Index.

 

Frasers Centrepoint Trust (FCT SP), the shopping mall operator partly owned by Fraser & Neave (FNN SP), climbed 1.5% to $1.40. The company said second-quarter net income climbed 40% to $13.8 million.

 

Hiap Seng Engineering (HSE SP), a provider of engineering services to the petroleum and petrochemical industries, advanced 4.6% to 69 cents. CIMB Group Holdings Bhd. raised the stock to “outperform” from “neutral.”

 

Rickmers Maritime Trust (RMT SP), which operates a fleet of container ships, increased 5.1% to 41.5 cents. The company said its creditors have agreed to extend the maturity of its US$130 million ($178) loan facility by five years. Separately, Rickmers Maritime said it has cancelled US$918.7 million in vessel orders and agreed to pay suppliers US$64 million in penalties.

 

Singapore Airlines (SIA SP), the world’s second- biggest carrier by market value, gained 0.9% to $15.50. The company said yesterday international flights are operating normally and European-bound passengers stranded in Australia are either on their way home or booked on planes to travel. Flights to Europe were disrupted in the past week because of an ash cloud from a volcanic eruption in Iceland.