Singapore Stock Market Updates On 09/06/10

Morning Highlights

Singapore Stocks started slightly lower today, with STI down 2.59 points to open at 2744.02.

Lookout for Economic News Release For Today:

1. U.S. ABC Consumer Confidence

Corporate Announcements:

1. Bharti, which is 32% owned by Singtel, has completed its US$10.7bn acquisition of Zain Group’s mobile operations in Africa
2. SGX sets up an office in London to reach out to its Europe and North America prospective clients.
3. Olam acquired the dehydrated and vegetable products business and operating assets of Gilroy Foods & Flavors for US$250 million

News Updates:

1. Gold finishes at record high of $1,245 an ounce‏.
2. Dow finishes up 123 points, gaining for first day in three; Nasdaq edges lower‏.
3. Goldman Sachs Group Inc may be looking at a new legal headache as settlement talks with an Australian hedge fund that invested US$100 million in a now toxic mortgage-linked security appear to be breaking down, a source said.
4. South Korea reported its biggest annual job growth in over eight years in May, pulling the unemployment rate to a 19-month low and providing fresh evidence of a sustained economic recovery, data showed on Wednesday.
5. Switzerland’s Federal Statistics Office said foreign-currency reserves jumped to 232.4 billion Swiss francs ($202 billion) in May, from 153.6 billion francs in April.

Quick Picks: Here is a quick pick screen that we have designed to pick out potential stocks, both Bullish and Bearish. These are measured with emphasis on larger changes in price and volume.

Bearish Stocks (Singapore)

Stock Prices last updated at 9.05 (Singapore Time)