Stocks in focus:
* Cosco: was down 3.3% on Friday. Besides being removed from the MSCI Singapore index, the co also announced the resignation of Mr Li Jian Xiong as Vice President wef 31 Dec ’12, due to rotation of key mgt talent by the Cosco Group among its business units. Mr Li has been with the co for a good many yrs and is a familiar face with the invmt community.
* Olam: shares halted for whole of today. Will announce an unspecified initiative involving its sh/h before the stock resumes trading tmrw. Co also announces purchase of Dehydro Foods in Egypt for US$30.8m.
* SIA: Delta Air Lines said to be in talks to buy part or all of SIA’s 49% stake in Virgin Atlantic.
* Civmec: is in talks to acquire Australian mining services Allmine Group, that would value Allmine at more than A$77m.
* Dukang Distillers: proposes to undertake an internal restructuring exercise
Monday, December 3, 2012
Singapore market (03 Dec 12)
Singapore market: could see a muted open following a wk end that was quiet on macro news flow.
The US markets closed Friday flat, providing little clues for trading direction in Singapore.
In the region, KOSPI and Nikkei are +0.6% and +0.4% respectively.
Technically, after Thursday’s long white candle and Friday’s gap up at open, the doji candle on Friday suggests some indecision in the market. Gains may slow down in the near term as the STI approaches resistance at 3,087, but watch for a break out of that level as the index could then move quickly to test the 2 yr high at 3,111. The key RSI and Stochastics indicator are rising steadily and continue to paint a positive picture for near term momentum.
Stocks in focus:
* Cosco: was down 3.3% on Friday. Besides being removed from the MSCI Singapore index, the co also announced the resignation of Mr Li Jian Xiong as Vice President wef 31 Dec ’12, due to rotation of key mgt talent by the Cosco Group among its business units. Mr Li has been with the co for a good many yrs and is a familiar face with the invmt community.
* Olam: shares halted for whole of today. Will announce an unspecified initiative involving its sh/h before the stock resumes trading tmrw. Co also announces purchase of Dehydro Foods in Egypt for US$30.8m.
* SIA: Delta Air Lines said to be in talks to buy part or all of SIA’s 49% stake in Virgin Atlantic.
* Civmec: is in talks to acquire Australian mining services Allmine Group, that would value Allmine at more than A$77m.
* Dukang Distillers: proposes to undertake an internal restructuring exercise
Stocks in focus:
* Cosco: was down 3.3% on Friday. Besides being removed from the MSCI Singapore index, the co also announced the resignation of Mr Li Jian Xiong as Vice President wef 31 Dec ’12, due to rotation of key mgt talent by the Cosco Group among its business units. Mr Li has been with the co for a good many yrs and is a familiar face with the invmt community.
* Olam: shares halted for whole of today. Will announce an unspecified initiative involving its sh/h before the stock resumes trading tmrw. Co also announces purchase of Dehydro Foods in Egypt for US$30.8m.
* SIA: Delta Air Lines said to be in talks to buy part or all of SIA’s 49% stake in Virgin Atlantic.
* Civmec: is in talks to acquire Australian mining services Allmine Group, that would value Allmine at more than A$77m.
* Dukang Distillers: proposes to undertake an internal restructuring exercise
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