SG Market: Spore shares may consolidate recent gains after outperforming regional peers but a modestly positive lead from Wall Street is likely to provide support. Hopes are high that Greece will finally agree to the terms attached to its second bailout tonight but the cautious undertone will remain until the deal is inked.
The STI is expected to trade within the 2910-3000 range for now. On the corporate front, SATS 3Q results came in slightly below expectations as profit fell 25% to $38.2m. Keppel Corp ties up with ConocoPhillips to design jackup rig for Arctic drilling. Global Logistic Properties Ltd. signs 86,900 sqm of new and expansion leases in China. On the negatives, FSLT is likely to face selling pressure after Berlian Laju defaulted on lease payments of 3 of its chemical tankers. Fastube and LionGlobal issues profit warning. Tiger Airways may be in focus after it says it is looking for a new CEO. Mirach Energy postpones London dual listing plan, citing economic, market conditions.
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