Share this
Digg
Del.icio.us
StumbleUpon
Netscape
Yahoo
Technorati
Googlize this
Facebook
Export PDF
Print
E-mail
Singapore’s Straits Times Index gained 0.2% to 2,756.67 as of 9:12 a.m. local time. Two stocks gained for each that fell on the 30-member gauge.
Shares on the measure trade at 13.5 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.
Shares on the measure trade at 13.5 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.
Noble Group (NOBL SP), the Hong Kong-based commodities supplier partly owned by China Investment Corp., rose 0.6% to $1.79. The company said it bought a 5.1% stake in USEC Inc., a supplier of uranium used in nuclear power plants, for US$30.2 million ($42.8 million).
Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, gained 1.6% to $2.48. The company said it has agreed to buy the Gilroy Foods and Flavors dehydrated vegetables business of ConAgra Foods Inc. for US$250 million.
Otto Marine (OTML SP), a Singapore-based shipbuilder, climbed 2.5% to 40.5 cents after it said its Reflect Geophysical Pte unit won a contract valued at US$8 million to provide a seismic survey for ENI Oil Holdings BV.
Raffles Education Corp. (RLS SP), the operator of design schools in China, India and Singapore, slid 3.3% to 29.5 cents. The company said AIF Capital Asia III LP won’t proceed with the proposed acquisition of a 10% stake in its Oriental University City unit. AIF Capital was to have paid 350 million yuan ($72.5 million) for the proposed acquisition originally announced in April.
Singapore Airlines (SIA SP), the world’s second- biggest carrier by market value, gained 0.6% to $14.36. The airline industry will post a US$2.5 billion profit in 2010, reversing two years of losses, the International Air Transport Association said yesterday, scrapping an estimate for a US$2.8 billion deficit as the economy rebounds.
Singapore Press Holdings (SPH SP), the biggest newspaper publisher in the city, rose 0.3% to $3.69. The company plans to expand its property business and is looking to buy more development sites, the Straits Times reported, citing Seow Choke Meng, Times Development’s executive director. The company sold its first condominium in 2007 and also owns a shopping mall.
