DMG, which has a Buy rating with a $2.20 target, says the results were within expectations; the strong performance was underpinned by higher contributions from three domestic residential projects and an improved performance from its 35%-owned HK associate.
Singapore’s Straits Times Index rose 0.6% to 3,204.92 as of 9:15 a.m. Twenty-six stocks advanced in the benchmark index of 30 companies.
Shares on the measure trade at an average 14.6 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg.
327 million shares have been traded thus far worth $215 million. Phillip Securities technical analyst Phua Ming Weii says the benchmark’s severely oversold short term conditions, which may be helping today’s bounce.
The company says the contracts, which range from 3-12 months in duration, include new components and engine maintenance contracts, as well as airframe contracts involving heavy maintenance checks, passenger-to-freighter and passenger-to-passenger/cargo conversions and interior refurbishments.
Shares on the measure trade at an average 14.7 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.
The STI is down 0.6% at 3,241.92 at 3:17 p.m., pulling back sharply in the afternoon, tracking falls in Shanghai and Hong Kong bourses which extend losses after China’s weaker-than-expected December exports, sparking fears over a slowdown in Asia’s economic engine.
Shares on the measure trade at an average 14.9 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.
UOB KayHian notes the STI held above 3200 for the third-straight day yesterday, and has crossed above the 50-day moving average of 3150, “a sign that the bears have not overwhelmed the bulls after a widely-anticipated head and shoulder formation in December.”
Shares on the measure trade at an average 14.9 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.
The STI is +0.6% at 3,255.43 after good US economic data Monday buoyed Wall Street, though market breadth is neutral with about 1.3 gainers per decliner vs 2.5 to 1 earlier.
Volume is robust with 1.50 billion shares worth $1.09 billion traded.
Shares on the measure trade at an average 14.9 times estimated earnings, according to data compiled by Bloomberg. The following shares were among the most active in the market.
Positive US stock futures and gains across Asian bourses are expected to keep Singapore shares in positive territory for the rest of the session.
The STI is up 0.6% at 3,151.62 but may face resistance at Friday’s 3,167 high. Market breadth is still at more than 2 gainers for every decliner, although participation remains low with under 500 million shares changing hands.
Singapore’s Straits Times Index declined 0.6% to 3,132.96 at the close. Three stocks fell for each that rose in benchmark equity index of 30 companies.
Shares on the measure trade at an average 15.2 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg.
The STI is down 0.6% at 3156.88, weakening further in afternoon trade as euro-zone debt concerns resurface, hurting risk appetite.
There are 2 fallers for every gainer in broad market.
While Singapore’s market has been weak in recent sessions, most analysts expect activity and prices to pick up again after the holiday period.
Olam (O32.SG) is off 0.6% at $3.18 in modest volume, pausing for a breather after recent gains, which were driven by the commodity trader’s move to set up a US$200 million ($262 million) sugar refinery in Nigeria with diversified African business group Lababidi.
The venture is deemed positive in the long term as margins are expected to be sharply higher than what Olam now commands.
