Home THE DAILY EDGE Business STI falls 0.4% to 3,198.57 at trading break
STI falls 0.4% to 3,198.57 at trading break

Tags: Deutsche Post AG | Fed-Ex Corp | Genting Singapore Plc | Global Logistics Properties | Golden Agri Resources | Indofood Agri Resources | JP Morgan Chase & Co | Macquarie Group | Nomura Holdings Inc. | Olam International | Wilmar International

Written by Bloomberg   
Thursday, 18 November 2010 13:19
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Singapore’s Straits Times Index fell 0.4% to 3,198.57 as of the 12:30 p.m. trading break. About the same number of stocks rose and dropped in the benchmark equity index of 30 companies.

Shares on the measure trade at an average 15.6 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. 
 
Palm-oil suppliers: Crude palm-oil futures fell as much as 4.6% in Kuala Lumpur today, heading for its second day of decline.
 
Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer, sank 2.1% to 71.5 cents. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s largest noodle maker, fell 1.1% to $2.63. Wilmar International (WIL SP), the world’s biggest palm oil trader, slid 2.4% to $6.16.
 
Genting Singapore Plc (GENS SP), the operator of one of two casino resorts in the Singapore, decreased 2.9% to $2.04. The stock was cut to “underperform” from “neutral” at Macquarie Group.
 
Global Logistic Properties (GLP SP), a logistics company whose customers include Wal-Mart China, Deutsche Post AG’s DHL and FedEx Corp., climbed 3.7% to $2.26. JPMorgan Chase & Co. initiated coverage of the stock with an “overweight” rating and share-price estimate of $2.90.
 
Olam International (OLAM SP), a supplier of agricultural commodities, gained 0.7% to $3.11. The stock was raised to “buy” from “neutral” at Nomura Holdings Inc. The brokerage increased its share-price estimate to $3.90 from $3.40.
 
 
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Last Updated on Thursday, 18 November 2010 13:24