Singapore Stocks: FJ Benjamin, Kreuz, Noble Group, SingTel
Singapore’s Straits Times Index gained 1.2 percent to 2,765.15 at the close, its first advance in six days. Five stocks rose for each that fell in the index of 30 companies.
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, rose 0.70 percent in New York yesterday, its second day of advances. Noble Group Ltd. (NOBL), a Hong Kong-based supplier of energy, food and mining commodities, jumped 4.9 percent to S$1.39. Olam International Ltd. (OLAM) , a Singapore-based supplier of agricultural commodities, increased 3.3 percent to S$2.21.
Phone companies: CIMB Group Holdings Bhd. raised its rating on Singapore phone operators to “overweight” from “neutral,” saying the companies offer a safe refuge amid the global market turmoil because of their “attractive and stable” dividends.
Singapore Telecommunications Ltd. (ST) , Southeast Asia’s biggest phone operator, advanced 3.1 percent to S$2.99. StarHub Ltd. (STH) , Singapore’s second-largest mobile phone operator, climbed 1.8 percent to S$2.79. Smaller rival M1 Ltd. (M1 SP) added 0.4 percent to S$2.44.
FJ Benjamin Holdings Ltd. (FJB) , the Singapore-based distributor and retailer of Guess Inc. and Gap Inc., surged 6.4 percent to 33.5 Singapore cents. The company said full-year net income increased 57 percent from a year earlier to S$13 million ($10.8 million).
Kreuz Holdings Ltd. (KRZ) , a provider of engineering services to the oil and gas industry, rose 4.9 percent to 32 Singapore cents. The company said it won contracts, valued at $25 million, to provide subsea installation works for a customer in the Middle East.
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