Jan. 24 (Bloomberg) -- Singapore’s Straits Times Index closed little changed at 3,185.76. About the same number of stocks rose and fell in the benchmark index.
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.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company name.
Palm-oil producers: Crude palm-oil futures for April delivery gained as much as 2.4 percent in Kuala Lumpur today.
First Resources Ltd. (FR SP), an Indonesian palm plantation company, advanced 1.4 percent to S$1.43. Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer, jumped 2.8 percent to 73 Singapore cents.
CWT Ltd. (CWT SP), a logistics company, climbed 1.7 percent to S$1.22. DMG & Partners Securities raised its share-price forecast to S$1.45 from S$1.16 and kept its “buy” rating.
Federal International 2000 Ltd. (FEDI SP), a supplier of equipment to the oil and gas industry, jumped 5.9 percent to 9 Singapore cents. The company said its Federal Offshore Services Pte unit agreed to sell a vessel for $29.1 million.
Keppel Land Ltd. (KPLD SP), the real estate arm of Keppel Corp., rose 0.9 percent to S$4.57. The company said after market closed that fourth-quarter net income surged to S$841 million ($655 million) from S$106.9 million a year earlier, boosted by one-time gains.
M1 Ltd. (M1 SP), Singapore’s smallest mobile-phone company, lost 0.4 percent to S$2.45 after Deutsche Bank AG lowered its recommendation on the stock to “sell” from “hold.”
Q&M Dental Group Singapore Ltd. (QNM SP), the operator of dental clinics, surged 11 percent to 59.5 Singapore cents. CIMB Group Holdings Bhd. initiated coverage of the stock with a “buy” rating and share-price estimate of 83 Singapore cents.
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