Singapore Stocks - Factors to watch on July 4

Thu Jul 4, 2013 5:42am IST

Stocks

   

SINGAPORE, July 4 - Following are some company-related and
market news which could have an impact on the local market.
 
     --------------------MARKET SNAPSHOT @ 2358 GMT ------------
    
                                                                                 
                                         
                     INSTRUMENT   LAST       PCT CHG   NET CHG
 S&P 500                          1615.41      0.08%     1.330
 USD/JPY                          99.77       -0.13%    -0.130
 10-YR US TSY YLD                 2.5032          --     0.000
 SPOT GOLD                        1254.69      0.28%     3.500
 US CRUDE                         101.3        0.06%     0.060
 DOW JONES                        14988.55     0.38%     56.14
 ASIA ADRS                        134.65      -0.59%     -0.80
 -------------------------------------------------------------                   
 
                  
 
    
    GLOBAL MARKETS-Stocks, euro fall as Portugal revives debt
crisis fears    
    SE ASIA STOCKS-Most fall amid foreign selling; Indonesia
leads 
 
 
    STOCKS TO WATCH
    
    -- UNITED OVERSEAS BANK LIMITED 
    - United Overseas Bank Limited said following the merger of
the investment banking arm of the OSK Group into the RHB Group,
the UOB Group and the OSK/RHB Group have agreed to terminate
their various joint ventures in the fund management business in
Malaysia. 
         
    
    -- KEPPEL CORPORATION LTD 
    - Keppel Corporation, the world's largest offshore drilling
rig producer, won an order for a KFELS B Class jackup rig for
$210 million from PV Drilling Overseas. 
    Keppel Corp has acquired a 35 percent stake in PV Drilling
Overseas at a consideration of $1 per share in cash for 350
ordinary shares from Falcon Energy Group Limited.
PetroVietnam Drilling & Well Services Corporation owns 55
percent of PV Drilling Overseas, and Falcon holds the rest 10
percent. 
      
    -- SINGAPORE TECHNOLOGIES ENGINEERING LTD 
    - Moody's Investors Service has affirmed the Aaa issuer
rating of Singapore Technologies Engineering Ltd and the senior
unsecured rating of ST Engineering Financial I Ltd, a wholly
owned special purpose funding subsidiary of ST Engineering.
 
    
    -- PARKWAY LIFE REAL ESTATE INVESTMENT TRUST  
    - Parkway Life Real Estate Investment Trust (PLife REIT)
plans to acquire two nursing home properties in Japan at a
combined price of approximately S$23.1 million ($18.14 million).
The acquisition, due to be completed by 12 July 2013, is
expected to generate a net property yield of 7.1 percent.
 
    
    -- MIDAS HOLDINGS LTD 
    - Midas Holdings said it has won a 44.3 million yuan ($7.23
million) contract from CNR Changchun Railway Vehicles Co., Ltd
for two subway lines in the northeastern city of Changchun in
China. Jilin Midas, a subsidiary of the company, will supply
aluminium alloy extrusion profiles for 44 train sets with
delivery expected from 2013 to 2015.    
     
    
    MARKET NEWS
 
 > Nikkei set to edge up on US data; Portugal may cap gains 
 > Wall St pares losses as tech shares advance              
 > US Treasuries prices slip ahead of labor market data    
 > Dollar gets the jitters before policy meetings, jobs   
 > Gold buoyed by weak dollar, safe-haven buying          
 > U.S. crude ends at 14-month high on stocks draw, Egypt  
 > Key political risks to watch in Singapore        
 
    ASIA-PACIFIC STOCK MARKETS
    S.Korea       China      Hong Kong    
    Taiwan       India       Australia/NZ     
     
    OTHER MARKETS
    Currency      Eurostocks      JP bonds  
    ADR Report    LME metals  
         
    STOCKS NEWS
    US 
    Europe 
    Asia   
    
    DIARIES & DATA: 
    Singapore diary     
    U.S. earnings diary     
    European diary      
    Asia Macro         
        
    TOP NEWS
    Front Page         Asian companies 
    U.S. company News European companies 
    Forex news          Global Economy 
    Tech, Media and Telecoms 
    Financials          General/political 
    A multimedia version of Reuters Top News is available at:
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