Morning Highlights
Singapore Stocks inched higher in opening trade on Friday after Wall Street jumped on news of Europe’s pledge to support indebted Greece and Phillip Morris International Inc. announced a US$12 billion share buyback.
In the U.S, Phillip Morris International Inc. increased 4%, reversing a 1.6% retreat after the announcement. U.S. stocks finished higher as energy, materials lead rally; Dow climbs 106 points and oil climbed in New York trading.
Corporate Announcement:
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Olam International reported 50.3% rise in 1H10 net profits to S$177.9 million and declared 2.0 cents per share as interim dividend.
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The company also announced that it will invest US$31.5 million to set up a Greenfield 500 metric tonne-per day wheat mill near Port Tema, close to the largest flour market, in Ghana.
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Genting Singapore yesterday announced the soft-opening of the casino and preview of Universal Studios Singapore at the Resorts World Sentosa Integrated Resort on 14 February 2010.
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Neptune Orient Lines announced a net loss of US$741 million for 2009, compared with a net profit of US$83 million for 2008. For 4Q09, NOL recorded a net loss of US$211 million, compared to a net loss of US$149 million for 4Q08.
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Tiger Airways announced that approximately S$20.4 million of the net proceeds of approximately S$233.3 million raised from the Company’s initial public offering has been utilised to repay outstanding short-term loans.
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Oilfield services provider KS Energy posted a 86.40%quarter-on-quarter drop in net profit in the Oct-Dec period, the company said in a news release on Friday.
News Updates
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Deal reached on aid package for Greece: E.U. president. European leaders ordered Greece to get the region’s highest budget deficit under control, and said they were prepared to take “determined” action to staunch the worst crisis in the euro’s 11 year history. Concern widening fiscal gaps in Greece, Portugal and Spain spurred concern Europe faces another recession, sending the S&P 500 down 3.1% on 4th Feb 10.
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.
Bullish Stocks (Singapore)
|
Name |
Entry |
SL |
TSL |
TP |
Remarks |
|
| 1 | China Hu An Cable | 0.425 | 0.395 | 0.455 | Overnight – Current Price at 0.430 |
Bearish Stocks (Singapore)
|
Symbol |
Name |
Entry |
SL |
TSL |
TP |
Remarks |
|
| 1 | HSEN | Hiap Seng Engineering | 0.57 | 0.64 | 0.50 | ||
| 2 | WLIL | Wilmar International | 5.93 | 6.38 | 5.48 | ||
| 3 | GUOC | Guocoland | 1.98 | 2.13 | 1.83 | ||
| 4 | WTHS | Wing Tai Holdings | 1.70 | 1.82 | 1.58 | ||
| 5 | SWBR | Swiber Holdings | 1.00 | 1.10 | 0.90 | ||
| 6 | PNHG | Pan Hong Property Group | 0.44 | 0.51 | 0.37 | ||
| 7 | SITT | Sinotel Technologies | 0.445 | 0.50 | 0.39 |
Stock Prices last updated at 9.05 (Singapore Time)
