Bloomberg News

Singapore Stocks: CSE Global, Eu Yan Sang, Guocoleisure, Noble

February 07, 2012

Feb. 7 (Bloomberg) -- Singapore’s Straits Times Index added 0.6 percent to 2,957.78, its highest close since Aug. 5. Four shares rose for each that fell in the 30-member gauge.

The following were among the most active shares in the market. Stock symbols are in parentheses after company names.

CSE Global Ltd. (CSE SP) slumped 6.1 percent to 84.5 Singapore cents after the supplier of industrial automation equipment said fourth-quarter net income will decline due to project delays.

Eu Yan Sang International Ltd. (EYSAN SP) slipped 1.5 percent to 68 Singapore cents after the maker and retailer of traditional Chinese medicine posted a net loss of S$2.8 million ($2.2 million), compared with a profit of S$4.1 million.

Guocoleisure Ltd. (GLL SP), the owner of hotels in the U.K., U.S. and Asia, fell 2.9 percent to 66.5 Singapore cents. The company said second-quarter net income declined 34 percent from a year earlier to $19.1 million.

Noble Group Ltd. (NOBL SP) gained 2.1 percent to S$1.47 after Asia’s biggest commodity supplier said it named Yusuf Alireza, formerly co-president of Goldman Sachs Group’s Asia excluding Japan unit, as chief executive officer. Noble said it also appointed William Randall as a member of the board.

Singapore Exchange Ltd. (SGX SP), the city’s bourse operator, rose 1.9 percent to S$7.05. Deutsche Bank AG reiterated its “buy” rating, citing improving market turnover. Average stock trading volumes climbed to S$1.2 billion in January, compared with S$791 million the previous month, according to data compiled by Bloomberg.

--Editor: John McCluskey

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net


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