SGX

SGX: Due to report 4Q and FY 2012 earnings after market tonight. According to Bloomberg’s poll of 12 analysts, the street is looking at a consensus of $362.92m for SGX’s earnings before interest and tax, a 1.4% increase over the FY11 numbers. SGX’s stock price is currently on a seven week winning streak. Since the start of the second half of this yr, the stock has gained 6.9%, although that still lags the benchmark STI’s 8.4% increase over the same period. The stock had recently been in the spotlight following its announcement of a new partnership with the London Stock Exchange. Apart from greater market access, the key benefit to investors from this partnership is to enable them to better manage their risk trade positions across different time zones, therefore, investors are able to trade for extended hours. SGX expects the SGX securities to be quoted on LSE's international Board by early third qtr this yr while selected LSE securities will be quoted on SGX's GlobalQuote by the first half of 2013. Macquarie has an Outperform rating on the SGX with f $7.56 TP.