Morning Highlights
There Are No Quick Picks For Today
Due to last Friday big drop, STI gapped down on open, fell 69.84 points to 2736.67. Banking stocks opened weak on worries of a possible debt crisis in Hungary and weak US jobs data.
Corporate Announcements
-
Ezra announced the incorporation of a new subsidiary, Texas Limited Liability Company.
-
Olam announced the incorporation of 2 new Singapore entities and 1 Mauritius entity.
-
Sound Global requested for trading halt for 7 June 9am.
News Updates
-
Gold priced in euros hit another record around 1,022 euro on Monday after the single currency plunged to its lowest in more than four years against the US dollar.
-
U.S. economy adds 431,000 jobs in May; 411,000 are temporary Census hirings. The jobless rate fell to 9.7% from 9.9% as Americans discouraged by the lack of available jobs dropped out of the labour force.
-
Friday’s plunge in the S&P 500 was the biggest on the day of a government jobs report since at least 1998, according to Bespoke Investment Group LLC; Dow slides 323 points in third-worst drop of the year.
-
Some of Prudential’s largest shareholders have approached former chief executive Mark Tucker over a possible return to the helm of the British insurer, media reported on Monday.
-
The euro slumped amid concern the debt crisis will worsen after a spokesman for Hungarian Prime Minister Viktor Orban said his nation’s economy is in a “very grave situation” and press reports fuelled speculation of trading losses at French bank Societe Generale SA.
