Singapore Stocks: Consciencefood, Golden Agri, Stamford Tyres
Singapore’s Straits Times Index increased for a fourth day, climbing 0.2 percent to 3,210.20 at the close. The four-day gain is the longest-winning streak in a month. Three stocks rose for every two that fell 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. Stock symbols are in parentheses after the company name.
Palm-oil suppliers: Crude palm-oil futures for February delivery rose as much as 1.3 percent in Kuala Lumpur today.
Golden Agri-Resources Ltd. (GGR SP), the world’s second- biggest palm-oil producer, climbed 1.9 percent to 79 Singapore cents. First Resources Ltd. (FR SP), an Indonesian palm-oil producer, increased 0.7 percent to S$1.55
Consciencefood Holdings Ltd. (CSF SP), the maker of instant noodles, surged 11 percent to 25 Singapore cents. DBS Group Holdings Ltd. initiated coverage on the stock with a “buy” rating and a share-price forecast of 38 Singapore cents.
Stamford Tyres Corp. (STC SP), a Singapore-based retailer and distributor of tires, slid 3.1 percent to 31 Singapore cents. The company said second-quarter net profit dropped 16 percent to S$1.66 million.
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