Singapore Stock Market Updates On 13/05/2010

Morning Highlights

Singapore shares started on a positive note after US capped their best three-day run in 10 months overnight. STI opened up 17.36 points at 2897.69.

Corporate Announcements

1. Singtel announced that its customer base increased 17% year-on-year to 293 million.
2. Singtel announced 13.1% growth FY10 net profit to S$3,910mn. Proposed final dividend S$0.08
3. Yanlord announced 46% decline year-on-year in 1Q10 net profit to S$21.3 million.

News Updates:

1. U.S. Stocks rallied with tech shares pacing the advance. The S&P 500 surged 1.4% to 1,171.67 at 16:00 in New York, above its highest close since May 4. Dow Industrials rise 149 points.
2. The Stoxx Europe 600 Index climbed 1.5% as all 19 of its industry groups gained.
3. US federal prosecutors investigating Morgan Stanley, Wall street journal reports. Morgan Stanley loses 5% of market value in premarket trades following investigation report. 
4. Cisco posts 63% higher profit ‘CEO says game plan “is hitting on all cylinders”.
5. A top Federal Reserve official said on Wednesday that a US$1 trillion rescue package to keep Greek debt woes from spreading appears to have calmed financial markets but warned that indebted nations must address fiscal problems or face future crises.
6. Gold futures for June reached $1,249.20, the highest ever.
7. Prudential gets in principle nod for AIA buy.
8. SAP to buy Sybase for US$5.8 billion.
9. Japan March current account surplus hits 2-year high.

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 9.12 (Singapore Time)