SG Market (03 Oct 12)

SG Market: S’pore shares may stall with some possible profit-taking following the see-saw movements on Wall Street. The next catalyst will be on the US non-farm payrolls data this Fri and with Spain on the boil, trading is expected to be choppy. The 3040-3080 range on the STI is likely to stick. Among stocks in focus, Olam offered to acquire the remaining 14.1% of NZ Farming Systems Uruguay for NZ$25.8m. CPO plays may come under pressure as Indian palm-oil importers are seeking to renegotiate contracts, with CPO futures prices touching 3-year lows. Tiger Airways plans to lease 5 additional planes for its Indonesian associate. STX OSV landed a more than Nok450m contract for a cable-laying vessel. Broadway restarts trade after terminating its deal to acquire 70% of Millennium Arena.