SG Market (07 Aug 12)

SG Market: S’pore shares may take a breather after tapping a one-year high on Mon amid signs the global rally is losing some momentum in US and European markets overnight. The STI may close the gap at the 3055 level before attempting the next hurdle at 3100. Keppel Corp and SembMarine will likely be in focus after the former firmed up contracts for 5 additional semi-submersible rigs from Sete Brasil for US$4.1b. In other corporate news, SGX bought a 49% stake in local electricity market operator Energy Market Co for an initial $17.6m. Yongnam may see broker downgrades after posting disappointing 2Q results with 20% drop in net profit.