Singapore Stocks: Noble, Olam, Goodpack, Technics Oil & Gas
Singapore’s Straits Times Index gained 0.5 percent to 3,250.29 at the close. Sixteen stocks advanced while 11 fell in the benchmark equity index of 30 companies.
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. Stock symbols are in parentheses after the company name.
Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, gained 0.1 percent in New York yesterday, to the highest level since October 2008.
Noble Group Ltd. (NOBL SP), a Hong Kong-based commodities supplier, rose 2.3 percent to S$2.27. Olam International Ltd. (OLAM SP), a Singapore-based supplier of agricultural commodities, advanced 1.9 percent to S$3.27.
Goodpack Ltd. (GPACK SP), a supplier of intermediate bulk containers used to transport commodities such as rubber, coffee and chestnuts, climbed 2.9 percent to S$2.13. The company was rated “outperform” in new coverage at Standard Chartered Plc.
Technics Oil & Gas Ltd. (TGH SP), an engineering-service provider, jumped 3.4 percent to 92 Singapore cents. The company said it won a S$23.5 million ($18.3 million) contract in the Middle East. Separately, it won Taiwan approval to sell 80 million Taiwan Depository Receipts, each representing 0.5 common share, according to a document sent to underwriter Polaris Securities Co. from the Financial Supervisory Commission in Taipei.
Wilmar International Ltd. (WIL SP), the world’s biggest palm-oil trader, dropped 2.8 percent to S$5.50 after JPMorgan Chase & Co. cut its rating to “underweight” from “overweight.”
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