Home THE DAILY EDGE Business STI ends flat at 3,147.67
STI ends flat at 3,147.67

Tags: Amtek Engineering | Changjiang Fertilizer Holdings | SIA | Singapore Airlines | XinRen | XinRen Aluminum | XinRen Aluminum Holdings

Written by Bloomberg   
Thursday, 16 December 2010 17:55
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Singapore’s Straits Times Index closed little changed at 3,147.67. Three stocks fell for every two that rose in benchmark equity index of 30 companies.

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. Stock symbols are in parentheses after the company name.

Amtek Engineering
(AMTK SP), a supplier of precision components to companies such as Sony Corp., advanced 1.9% to $1.10. The company said third-quarter net profit doubled to US$12.5 million ($16.4 million) from US$6 million a year earlier.

Changjiang Fertilizer Holdings (CJFH SP), a maker of liquid ammonia and methanol, sank 3.9% to 24.5 cents. The company said it plans to raise $20 million selling convertible bonds.

Singapore Airlines (SIA SP), the world’s second- biggest carrier, slipped 1.3% to $15.26. The company said overall load factor fell to 70.1% in November from 72.3% a year earlier. UOB-Kay Hian Holdings lowered its rating on the stock to “hold” from “buy” and reduced its share-price forecast to $15.90 from $18.

XinRen Aluminum Holdings
(XAH SP), a China-based producer of aluminum products, surged 9.9% to 50 cents. DBS Group Holdings initiated coverage of the stock with a “buy” rating and a share-price forecast of 70 cents.

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STI ends flat at 3,147.67
Thursday, 16 December 2010

Last Updated on Friday, 17 December 2010 09:28