Three Shares That Beat the Market Today

StockMarketBoardThe Singapore stock market had responded with relative normalcy after Monday night’s string of less-than-pleasant news. Gold prices had endured its worst two-day rout in 30 years while the US stock market’s S&P 500 Index fell by 2.3% for its worst day since November 7. In Asia, China had reported a slowdown in economic growth and to top it all off, there was the outrageous and tragic bomb attack on the Boston Marathon in USA.

Despite all that, the Straits Times Index (SGX: ^STI) only fell by 0.2% on Tuesday and closed flat today at 3,291. After all that sombre news, let’s look a few of the stock market winners today to lift some of the gloom.

Investors seemed to like Singapore Exchange’s (SGX: S68) third quarter earnings release last evening as it climbed 1.2% to $7.79 today. The stock exchange operator saw year-on-year top-line growth of 17% for the quarter to $191m. Profits grew even faster at a rate of 26% from $77.8m a year ago to $97.7m. The company said that “improved sentiments across global capital markets this past quarter led to increased trading and clearing volumes for both our Securities and Derivatives markets.” However, the company preached caution as they still see volatile conditions in the global economy and are “uncertain if current market conditions will persist”.

United Overseas Bank (SGX: U11) was another winner as it grew by 1.9% to $20.73. Last year, the bank had grown annual total income by 14% from S$5.7b to S$6.5b. UOB’s after-tax profit growth was even more impressive at 20.5% from S$2.3b to S$2.8b. Investors will find out if the bank can keep up its momentum when it releases its first quarter results on 2 May 2013. UOB’s shares are currently selling for 1.4 times its net-asset value and fetch a dividend yield of 2.9%.

M1 Limited (SGX: B2F) also released earnings results yesterday, and investors seemed pleased – its shares are up by 3% to $3.09. The telecommunications company’s first quarter results saw a year-on-year 1.8% increase in earnings from S$40.3m to S$41m. Sales for M1 did not fare too well however, as it had declined by 7.4% to S$243m. The company is expecting 2013 to be slightly more profitable than last year’s after-tax profit of S$146.5m.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Chong Ser Jing doesn’t own shares in any companies mentioned.