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The following companies may have unusual price changes in Singapore trading today. Share prices are from the previous close. Singapore’s Straits Times Index dropped 0.8% to 2,927.04.
Shipping companies: The Baltic Dry Index of commodity-shipping rates rose 2.5% in London yesterday to its highest level since June 29.
STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, lost 1.3% to $13.60. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, was unchanged at 26.5 cents.
Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, climbed 3.3% to $1.59. The company said it won a US$48 million ($65.4 million) contract to build two ships.
Boustead Singapore (BOCS SP): The provider of engineering services said second-quarter profit increased to $31.9 million from $9.5 million a year earlier. The shares slipped 1.2% to 84 cents.
Genting Singapore Plc (GENS SP): The owner of one of two casinos in the city-state posted a second-quarter profit of $396.5 million, compared with a loss of $50.7 million a year earlier. Credit Suisse Group AG raised the stock to “outperform” from “underperform,” while Citigroup Inc. upgraded its rating to “buy” from “sell.” The stock gained 0.8% to $1.28.
Noble Group (NOBL SP): The commodities supplier part-owned by China Investment Corp. said second-quarter profit tumbled 65% to US$85.9 million ($117 million) from a year earlier after costs rose and as last year’s income was inflated by a revaluation gain. Noble dropped 2.5% to $1.59.
Sembcorp Industries (SCI SP): The parent of the world’s second-biggest oil-rig maker said second-quarter profit climbed 14% to $161.2 million from a year earlier. SembCorp Industries fell 0.5% to $4.10.
Wilmar International (WIL SP): The world’s biggest palm-oil trader said second-quarter profit fell 15% to US$344.5 million ($469 million) due to lower margins and revaluation losses from convertible bonds. That missed the media analysts’ estimate of US$462 million compiled by Bloomberg. The stock dropped 1.3% to $6.27.
