SG Market (06 Aug 12)

SG Market: Spore shares may rise in a pre-National Day rally amid rising risk-on appetite after European leaders edge towards a bond-buying program to fix the eurozone debt crisis and data showed better-than-expected job creation in the US. The STI could attempt to close the breakdown gap at 3100 after breaking clear of the 3030-3040 resistance zone. Among stocks likely in focus, F&N resumes trading after recommended the divestment of its APB stake to Heineken at $50 per share, moving closer to the break-up of F&N. Sembcorp's 2Q12 results was generally in line with expectation with net profit +9% to $190.7m, driven by its energy and water utilities businesses' strong performance. CapitaLand's serviced-residence arm Ascott agreed to buy the Cavendish London hotel for £158.8m. China Haida expects half year results affected by lower sales. ChinaVision Media expects to report 1H profit vs loss, citing significant improvement in media businesses, LionGold sees milestone with 60% Castlemaine Holders Acceptance.