Singapore Stocks: Olam, Sembcorp Marine, Singapore Air, TMC
Shares on the measure trade at an average 14.3 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, advanced 1.6 percent in New York yesterday, extending gains for a second day.
Noble Group Ltd. (NOBL) , Hong Kong-based supplier of energy, food and mining commodities, increased 1 percent to S$2.04. Olam International Ltd. (OLAM) , a Singapore-based supplier of agricultural commodities, climbed 2.1 percent to S$2.89.
Oil rig builders: The world’s largest builders of oil exploration platforms gained after crude oil futures rose to a two-week high in New York on signs of increased U.S. fuel demand after a government report showed inventories of diesel and heating oil fell in the world’s biggest crude-consuming nation.
Keppel Corp. (KEP SP), the world’s largest builder of oil rigs, added 0.4 percent to S$11.26. Smaller rival Sembcorp Marine Ltd. (SMM) increased 0.6 percent to S$5.28.
Hiap Seng Engineering Ltd. (HSE) , the provider of engineering services in the oil and gas industry, sank 4.1 percent to 47 Singapore cents. The company was cut to “underperform” from “trading buy” at CIMB-GK Securities Pte.
Singapore Airlines Ltd. (SIA) , the world’s second- biggest carrier by market value, lost 0.4 percent to S$14.14. The company said it will form a low-cost, long-haul carrier amid competition from Jetstar and AirAsia X Sdn for budget intercontinental travelers.
TMC Education Corp. (TMCH SP), an operator of business management and information technology schools, slipped 5.9 percent to 8 Singapore cents. The company said it expects to report a loss before tax for the year ending June 30 due to dwindling student numbers.
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