Morning Highlights
Our Focus For Today Is On Property Sector
Singapore shares enjoyed modest gains following a positive lead from Wall Street, with STI opened up at 2834.95.
Other Asian markets also rises but volume was reportedly light, with Japanese markets closed for the Emperor’s Birthday and with many other bourses set to close at week’s end for Christmas.
Corporate Announcements
Noble Group announced that Macarthur Coal Limited has made a takeover offer to acquire all of Gloucester providing the latter’s shareholders 0.84 Macarthur shares for every Gloucester share. Macarthur has also made an all cash alternative to Gloucester’s shareholders at A$8.00 per share. Noble owns 87.7% of Gloucester.
Keppel Corp’s subsidiary Keppel FELS Brasil has won another contract from Noble Corporation to upgrade and repair a third Brazil-based drillship for US$152mn. This brings the total sum of drillship contracts secured in recent weeks from Noble to US$456mn.
CapitaLand’s subsidiary CapitaLand Financial Investments has acquired the remaining 80.33% in Mezzo Capital Pte Ltd.
News Updates:
-
Stock market operator Dubai Financial Markets said Tuesday that it will buy its local rival Nasdaq Dubai for $121 million. The deal will enable the firm to combine back office functions, such as custody and clearing, but the two exchanges will continue to be operated separately. (Read More)
-
CNA Group Ltd, an enabler of intelligent buildings said it has secured new contracts in Vietnam worth $18 million (US$13 million) which are expected to contribute to its FY2010 performance. (Business Times)
-
Britain’s economy shrank by 0.2% in the 3Q of this year, a smaller upward revision than expected after stronger construction output was offset by a weakening in the services and industrial sectors.
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 | HWHS | Hwa Hong | 0.54 | 0.49 | 0.59 | |
| 2 | WPSL | Wheelock Properties | 2.05 | 1.96 | 2.14 | |
| 3 | GENS | Genting Singapore | 1.20 | 1.14 | 1.26 | |
| 4 | IFAR | Indofood Agri Resources | 2.20 | 2.06 | 2.34 | |
| 5 | CTDM | City Development | 11.72 | 11.34 | 12.10 | |
| 6 | SIAT | Singapore Airport Terminal Services | 2.66 | 2.55 | 2.77 | |
| 7 | CDLT | CDL Hospitality Trusts | 1.76 | 1.67 | 1.85 |
Here’s Our Mid Term Holding Opportunities:
|
Symbol |
Name |
Entry |
SL |
TSL |
TP |
Remarks |
|
| 1 | OCBC | Overseas Chinese Banking Corp | 8.83 | 8.15 | 8.36 | 9.51 | Overnight, Current Price at 8.93 |
| 2 | KLAN | Keppel Land | 3.38 | 3.14 | 3.62 | Overnight, Current Price at 3.43 | |
| 3 | UTOS | UOL Group | 4.06 | 3.20 | 4.92 |
Stock Prices last updated at 09:27 (Singapore Time)
