SG Market (17 Aug 12)

SG Market: S’pore shares are likely to take a breather following recent gains and as the results reporting season winds down. With little catalyst to drive the market either way, ihe STI is expected to trade within the 3050-3100 band. Among stocks likely in focus, Italian Shipbuilder Fincantieri was reported to be making a bid for a 50.75% stake in STX OSV at $1.50/share. Traders may also look out for further news on the ongoing tussle for F&N/APB as both counters are on trading halt pending an announcement. Swiber may outperform following the purchase of another 49.5% stake in Atlantis Navigation for US$18.3m, while Otto Marine bagged a US$10m charter contract for a vessel in Africa. Commodity and oil-related stocks like Noble and Olam to remain in play backed by a rally in commodity and oil prices.