Reuters: Financial Services and Real Estate: Singapore Stocks-May open up as China moves to boost growth

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Singapore Stocks-May open up as China moves to boost growth May 14th 2012, 00:39 Tweet Share this Email Print Related Topics Basic Materials » Financials » Industrials » Non-Cyclical Consumer Goods » Sun May 13, 2012 8:39pm EDT SINGAPORE, May 14 (Reuters) - Singapore shares may see a positive start on Monday, after China took steps to spur growth by cutting the required reserve ratio for banks, but ongoing concerns over the euro zone's austerity drive may weigh on the market. ----------------------MARKET SNAPSHOT @ 0015 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1353.39 -0.34% -4.600 USD/JPY 80.03 0.09% 0.070 10-YR US TSY YLD 1.8307 -- -0.010 SPOT GOLD 1580.72 0.15% 2.420 US CRUDE 95.58 -0.57% -0.550 DOW JONES 12820.60 -0.27% -34.44 ASIA ADRS 120.36 -0.92% -1.12 ------------------------------------------------------------- > Banks hit by JPMorgan; Wall St ends week lower > U.S. bond prices up on Europe worries, US banks > Euro near 3-1/2 month low vs dollar on Greek uncertainty > Gold posts worst weekly drop this year on euro fears > Oil dips as China data outweighs upbeat US consumers Stocks and factors to watch: -- FRASER AND NEAVE LTD - Fraser and Neave posted on Friday a 37.1 percent fall in second quarter net profit to S$85.5 million from a year ago, weighed by a decline in property development revenue and lower soft drinks and dairies sales. -- SEMBCORP INDUSTRIES LTD - Sembcorp Industries said its first quarter net profit rose 10.5 percent to S$176.7 million compared to a year earlier, helped by strong growth in its utilities business. -- GOLDEN AGRI RESOURCES LTD - Palm oil firm Golden Agri said its net profit in the first quarter fell 30 percent to $162 million from a year ago, due to lower palm oil prices and higher fertiliser and labour costs. -- UOL GROUP LTD - Property developer UOL said its first quarter net profit declined 63 percent to S$84 million, due to lower revenue from property development and a drop in share of profits from associated companies. -- SATS LTD - Aircraft ground handling and food services firm SATS Ltd said on Monday its fourth quarter net profit slipped 1.2 percent to S$50.1 million, due to the absence of contribution from British food distributor and producer Daniels, which was sold in October. - Singapore's benchmark Straits Times Index fell 0.7 percent to 2,883.40 points on Friday. - The Dow Jones industrial average rose dropped 0.27 percent to 12,820.60. The Standard & Poor's 500 Index slipped 0.34 percent to 1,353.39. The Nasdaq Composite Index gained 0.01 percent to 2,933.82. ASIA-PACIFIC STOCK MARKETS: Japan S.Korea China Hong Kong Taiwan SE Asia Australia/NZ India OTHER MARKETS: Wall Street Gold Currency Eurostocks Oil JP bonds ADR Report LME metals US bonds STOCKS NEWS US, Europe, Asia: DIARIES & DATA: IPO diary & data U.S. earnings diary Singapore diary Eurostocks Week Ahead Asia earnings diary European diary Wall Street Week Ahead TOP NEWS: Asian companies U.S. company News European companies Forex news Global Economy Technology Telecoms Media news Banking news General/political Asia Macro A multimedia version of Reuters Top News is available at: topnews.session.rservices.com LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt (Local currency) LME price overview (Reporting by Charmian Kok; Editing by Jonathan Hopfner) Non-Cyclical Consumer Goods Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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