Home THE DAILY EDGE Business STI gains 0.4% to 3,241.49 at closing
STI gains 0.4% to 3,241.49 at closing

Tags: Amtek Engineering | CIMB Group Holdings | Consciencefood Holding | Dbs Group Holdings | DMG & Partners Securities | Noble Group | Olam International | Singapore Exchange | Sony Corp | STX OSV Holdings

Written by Bloomberg   
Tuesday, 11 January 2011 17:45
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Singapore’s Straits Times Index gained 0.4% to 3,241.49 at the close. Three stocks rose for every two that fell in the benchmark equity index of 30 companies.

Shares on the measure trade at an average 14.8 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg. The following shares were among the most active in the market. 
 
Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, gained 0.9% in New York yesterday, snapping two days of decline.
 
Noble Group (NOBL SP), a Hong Kong-based commodities supplier, advanced 4% to $2.34. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, rose 0.6% to $3.23.
 
Amtek Engineering (AMTK SP), a supplier of precision components to companies such as Sony Corp., increased 1.6% to $1.31. DBS Group Holdings initiated coverage of the stock with a “buy” rating and a share-price forecast of $1.65.
 
Consciencefood Holdings (CSF SP), a maker of instant noodles, climbed 1.7% to 30 cents. The company said it installed new machinery that will boost its annual production capacity to 852 million packs of noodles from 741 million.
 
Singapore Exchange (SGX SP), the operator of the derivatives and securities exchange in the city, gained 0.6% to $8.41. DMG & Partners Securities raised its rating on the stock to “buy” from “neutral.”
 
STX OSV Holdings (SOH SP), the world’s biggest maker of oil-rig support vessels by sales, jumped 5.2% to $1.21. CIMB Group Holdings initiated coverage of the stock with a “buy” rating and share-price forecast of $1.60.
 
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Last Updated on Tuesday, 11 January 2011 17:49