SG Market (06 Mar 13)

SG Market: S’pore shares are likely to get a lift from the Dow’s record close on signs of an improving US economy, better-than-expected corporate earnings, ongoing monetary stimulus and growing investor confidence. The STI has also managed to hold above the 50-day dma support level at 3240 and might break past the immediate resistance at 3280 to test 3300.. Stocks to watch out for: *CapitaLand: Looks to exit Australia as it opens the books of 59.3% owned Australand to potential bidders after a strategic review to pivot back to S’pore and China. Group has appointed JP Morgan as financial adviser to the possible divestment. *Ezion: PACC Offshore Services Holdings has teamed up with Terasea (Ezion/Seabridge Marine JV) to operate 9 AHTS vessels for the ocean towage market. *TTJ Holdings: Secures $20m of new contracts for the supply of structural steelworks and civil defence shelter doors. This lifts the group’s orderbook to $182m, bulk of which will be completed in FY13 and FY14. *STX OSV: Proposed corporate name change to Vard following the sale of STX Europe’s majority stake to Fincantieri Oil & Gas. *SGX: Feb securities daily average value traded $1.76bn -2% yoy, -2% mom. Average daily trading volume of futures and options record 512,551 contracts +59% yoy. Index Changes: Keppel Land joins FTSE Asia Pacific Ex-Japan Large Caps Index, Olam deleted.