Home THE DAILY EDGE Business STI climbs 0.3% to 3,133.83 at trading break
STI climbs 0.3% to 3,133.83 at trading break

Tags: Apple Inc. | Bombardier Inc. | Creative Technology | Genting Singapore Plc | Great Eastern Holdings | Las Vegas Sands Corp. | Midas Hldgs | Oversea-Chinese Banking Corp.

Written by Bloomberg   
Thursday, 28 October 2010 13:11
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Singapore’s Straits Times Index climbed 0.3% to 3,133.83 as of the 12:30 p.m. trading break. Two stocks rose for each that fell on the 30-member gauge.

Shares on the measure trade at an average 15.3 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg. The following shares were among the most active in the market. 
 
Creative Technology (CREAF SP), the consumer electronics maker whose music players compete with Apple Inc.’s iPod, declined 2.3% to $4.20. The company said it had a first-quarter loss of US$3.6 million ($4.68 million) compared with a loss of $1.04 million a year earlier.
 
Genting Singapore Plc (GENS SP), owner of one of two casino resorts in the city-state, climbed 2.8% to $2.19 after its rival Las Vegas Sands Corp. reported third-quarter earnings that topped analysts’ estimates as “outstanding results” at Marina Bay Sands in Singapore helped boost profit margins.
 
Great Eastern Holdings (GE SP), the insurer controlled by Oversea-Chinese Banking Corp. (OCBC SP), rose 2.2% to $16.06. The company said its third-quarter net income rose to $168.6 million from $33.6 million a year earlier. Oversea-Chinese Banking gained 0.2% to $8.96.
 
Midas Holdings (MIDAS SP), the maker of aluminum alloy profiles used in train carriages, increased 2.7% to 96 cents. The company said it won a supply contract, valued at 20.3 million euros ($36.4 million), from Bombardier Inc.
 
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Last Updated on Thursday, 28 October 2010 13:19