SG Market (03 Aug 12)

SG Market: S’pore shares are likely to slip as sentiment in Wall Street turned sour after the ECB failed to live up to expectations following all the tough talk last week. With Nikkei opening down 1.4%, the first line of support for the STI will be at the 3000 level where the 20-day moving average sits, followed by 2975. Among stocks likely in focus, DBS's 2Q12 results topped estimates with net profit +10% yoy to $810m, while SembMarine’s 2Q12 was a shade off expectations with net profit -4.6% yoy to $142.8m. F&N is due to announce whether it will accept Heineken's offer for its APB stake.