SAC Fund Manager Steinberg Guilty in Insider-Trading Case
Singapore Stocks: Amtek Engineering, Noble, STX OSV Holdings
Singapore’s Straits Times Index gained 0.4 percent 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. 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 0.9 percent in New York yesterday, snapping two days of decline.
Noble Group Ltd. (NOBL SP), a Hong Kong-based commodities supplier, advanced 4 percent to S$2.34. Olam International Ltd. (OLAM SP), a Singapore-based supplier of agricultural commodities, rose 0.6 percent to S$3.23.
Amtek Engineering Ltd. (AMTK SP), a supplier of precision components to companies such as Sony Corp., increased 1.6 percent to S$1.31. DBS Group Holdings Ltd. initiated coverage of the stock with a “buy” rating and a share-price forecast of S$1.65.
Consciencefood Holdings Ltd. (CSF SP), a maker of instant noodles, climbed 1.7 percent to 30 Singapore 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 Ltd. (SGX SP), the operator of the derivatives and securities exchange in the city, gained 0.6 percent to S$8.41. DMG & Partners Securities Pte raised its rating on the stock to “buy” from “neutral.”
STX OSV Holdings Ltd. (SOH SP), the world’s biggest maker of oil-rig support vessels by sales, jumped 5.2 percent to S$1.21. CIMB Group Holdings Bhd. initiated coverage of the stock with a “buy” rating and share-price forecast of S$1.60.
To contact the reporter on this story: Jonathan Burgos in Singapore at firstname.lastname@example.org.
To contact the editor responsible for this story: Nick Gentle at email@example.com.