Singapore Stock Market Updates On 30/07/10

Morning Highlights

Singapore Market gap up to 3018.26 but pull back to below 3000 in opening trades following an overnight drop on Wall Street. Currently we are observing which particular share is strong enough to deduce which sector will bring the index to cross 3037…

• Capitaland broke 3.91
• Olam touched 2.80

New IPO : Consciencefood Holding limited
IPO Size : 103,996,000
IPO Price : S$0.22
Manager, Underwriter,placement agent : Collins Stewart
Commerce Trading : 5th Aug 2010 

Watch out for Economic News Release Today:

1. U.S. Q2 Personal Consumption
2. Japan June Industrial Production numbers (Japan’s June jobless rate higher-than-expected 5.3%, but household spending above estimate)

Corporate Announcements:

1. Keppel Corp multi-purpose self-elevating platform (MPSEP) design has been chosen by Seafox Group as the basis for wind turbine installation vessel.
2. DBS announced 30% increase year-on-year in 2Q10 profit after tax to $718 million and a goodwill impairment charge of S$1.02 billion

News Updates:

1. U.S. Initial claims for state unemployment benefits dropped 11,000 to a seasonally adjusted 457,000 in the week ended July 24, the Labour Department said.
2. Motorola Inc posted quarterly earnings and revenue that beat Wall Street expectations driven by products such as mobile network equipment, sending its shares up 1%.
3. Exxon Mobil Corp reported a better-than-expected second-quarter profit on Thursday, as oil prices and margins to process crude into fuel rebounded from a year earlier and production rose. Output up 8% and revenue hits $92.5 billion.
4. China’s US$300-billion sovereign wealth fund recorded a double-digit return (11.7%) on its overseas investments in 2009, state media said on Thursday, reversing a decline in the previous year.
5. Oracle sued by Justice Department for alleged software-contract fraud
6. U.S. stocks slip into negative territory; consumer-staples sector is hardest hit… eventually U.S. stocks end lower ahead of data on economic growth; Dow’s down 31 points

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)

Stock Prices last updated at 9:05 (Singapore Time)