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Singapore’s Straits Times Index increased 0.3% to 3,140.41 as of 9:20 a.m., its second consecutive day of gains. Nearly three stocks rose for each that fell on the 30-member gauge.
Shares on the measure trade at an average 15.4 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg.The following shares are among the most active in the market.
Shares on the measure trade at an average 15.4 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg.The following shares are among the most active in the market.
Shipping companies: The Baltic Dry Index of commodity- shipping rates climbed 0.3% in London on Oct. 1, reversing a two-day decline.
Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, gained 2.2% to $1.85. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, climbed 1.8% to 28 cents.
Genting Singapore Plc (GENS SP), owner of one of two casino resorts in the city-state, rose 1.5% to $2.03. Its share price estimate was raised to $1.50 from $1.46 by Goldman Sachs Group Inc. The investment rating was left unchanged at “neutral.”
Eagle Brand Holdings (EBH SP), the maker of ceramic tiles and sanitary-ware, jumped 6.7% to 8 cents. The company agreed to pay $472 million in stock to acquire Nam Cheong Dockyard and 50% of Nam Cheong Offshore.
The company will issue 94.4 billion new shares at 0.5 cents each to fund the acquisitions, Eagle Brand said.
Keppel Corp. (KEP SP), the world’s biggest oil-rig builder, rose 0.7% to $9.17. The stock was rated “buy” in new coverage at BNP Paribas, which advised people to invest in the company ahead of a “strong recovery” that may take place in the first half of 2011. The brokerage has a share-price estimate of $11.05, according to a report by Brenda Lee.