Reuters: Financial Services and Real Estate: Singapore Stocks-Set to rise; SMRT in focus

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Singapore Stocks-Set to rise; SMRT in focus May 2nd 2012, 00:29 Tweet Share this Email Print Related Topics Energy » Financials » Industrials » Tue May 1, 2012 8:29pm EDT SINGAPORE, May 2 (Reuters) - Singapore shares are likely to open higher on Wednesday, after data showing U.S. manufacturing expanded at a faster pace than expected last month boosted U.S. stocks overnight. Subway operator SMRT Corp Ltd will be in focus after it reported on Monday a 59 percent drop in fourth quarter net profit to S$13.9 million ($11.2 million), hurt by higher operating expenses and the impairment of goodwill on its bus operations. It declared a reduced final dividend of 5.70 Singapore cents compared with 6.75 cents a year ago. ----------------------MARKET SNAPSHOT @ 0009 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1405.82 0.57% 7.910 USD/JPY 80.17 0.14% 0.110 10-YR US TSY YLD 1.9506 -- 0.005 SPOT GOLD 1661.69 0.01% 0.160 US CRUDE 105.87 -0.27% -0.290 DOW JONES 13279.32 0.50% 65.69 ASIA ADRS 126.45 -0.24% -0.31 ------------------------------------------------------------- > Dow hits 4-year high, lifted by ISM factory data > Bonds slip on stronger U.S. factory data > Yen off highs, China HSBC PMI eyed > Gold falls on strong US data, ends five-day rise > Oil turns higher on strong U.S. factory growth Stocks and factors to watch: - CAPITALAND LTD - CapitaLand, Southeast Asia's largest property developer, on Monday reported a 31 percent CLIMB in first quarter net profit to S$133.2 million, helped by higher operating income and larger portfolio gains. - SC GLOBAL DEVELOPMENTS LTD - Luxury property developer SC Global said it expects to report a net loss of S$10 million for January-March due to lower sales of its developments. That compares to a net profit of S$72.8 million a year ago. - SAKARI RESOURCES LTD - Coal miner Sakari Resources said its first quarter net profit plunged 65 percent to S$14.5 million from a year ago, hurt by lower production and sales. It said margins were also pressured by strong inflationary factors in Indonesia and higher fuel prices. - Singapore's benchmark Straits Times Index fell 0.10 percent to 2,978.57 points on Monday. - The Dow Jones industrial average rose 0.50 percent to 13,279.32. The Standard & Poor's 500 Index gained 0.57 percent to 1,405.82, while the Nasdaq Composite Index climbed 0.13 percent to 3,050.44. 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 Joseph Radford) 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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