Home THE DAILY EDGE Business STI up 0.3% to 3,181.41 at the close
STI up 0.3% to 3,181.41 at the close

Tags: Capitaland | Goodland Group | SGX | Singapore Exchange | Straits Asia Resources

Written by Bloomberg   
Monday, 06 December 2010 17:44
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Singapore’s Straits Times Index gained 0.3% to 3,181.41 at the close of trading. Seventeen stocks gained and 11 fell in the benchmark equity index of 30 companies.

Shares on the measure trade at an average 15.5 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. Stock symbols are in parentheses after the company name.

CapitaLand (CAPL SP), Southeast Asia’s biggest developer, climbed 0.3% to $3.68. The company agreed to sell 163 units at Singapore downtown property “The Adelphi” for a total of $218.1 million. It expects to earn an after-tax profit of about $15.7 million from the deal.

Goodland Group (GOOD SP), the real-estate company, surged 13% to 18 cents. The company said it will issue new warrants at $0.01 each, with each warrant carrying the right to buy one new share in the company.

Singapore Exchange (SGX SP), the operator of the stock exchange, lost 0.9% to $8.57. ASX, which is selling itself to Singapore Exchange, said a study it commissioned by Access Economics confirms its view that the deal is ultimately in Australia’s interest.

Straits Asia Resources (SAR SP), the owner of coal mines in Indonesia, dropped 2.2% to $2.69. The company was cut to “reduce” from “buy” by Nomura Holdings Inc., which said it was the “most expensive stock” in its industry given the prospect of lower earnings.

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STI up 0.3% to 3,181.41 at the close
Monday, 06 December 2010

Last Updated on Monday, 06 December 2010 17:45