SG Market (14 Nov 12)

SG Market: S’pore shares may stall in post-holiday training, buffeted between declines on Wall Street and slightly positive signals from regional markets but the latest batch of earnings is likely to be traders' key focus. Support for the STI is seen at the psychological 3000 level with topside resistance at 3040. With the market trading sideways, most traders are still erring on the side of caution. Among stocks likely in focus, SingTel reported 2QFY13 net profit fell 1.6% yoy to $868m, mainly on a lower contribution from its Australian unit, Optus. Golden Agri may be hit after reported 3Q12 net profit fell 22% to US$86m on lower CPO prices and higher soybean costs. Genting S’pore 3Q12 results came in below par with net profit -34% to $138.4m as Singapore casino revenue dropped sharply. Noble plans to raise $250m via a placement of 225m shares at $1.10-$1.12. GLP requested a trading halt pending an announcement that cold be linked to a Brazilian logistics purchase.