Three Shares That Lost To The Market Today

The Straits Times Index (SGX: ^STI) managed to reverse Monday’s losses with a 0.7% increase to 3,179 points today. It was a day of broad gains around the market, with more than 80% of the index’s 30 components in the green. But, there were still some unfortunate shares that were unable to make any advances today. Let’s take a look at them.

Old Chang Kee (SGX: 5ML) has been on somewhat of a roller-coaster ride after announcing on 4 July 2013 that it might be acquired by another party. The snacks retailer’s shares shot up by 26% to $0.85 on the day of the announcement before gradually giving back some of those gains, ending today’s trading session at $0.73 for a 2% slide from yesterday’s close at $0.75.

There’s still been no news on any possible offer price, and there’s a distinct possibility that any takeover might not take place. Market participants hoping to make a quick buck by banking on further increases after Old Chang Kee’s recent peak at $0.85, without considering the business’s underlying fundamentals must surely be smarting now.

Next up, we have Second Chance Properties (SGX: 528), with its shares down by 4.4% to $0.435. The company, with interests in apparel and gold jewellery retail as well as property investing, released its third quarter results two Fridays ago on 28 June 2013 and posted a 24.7% increase in quarterly profit to S$4.26m. Management also declared an interim dividend of 1.7 cents per share for the third quarter, an improvement over the corresponding period last year where no dividends were paid.

Lastly, we have Noble Group (SGX: N21). The commodities-trading company’s shares dropped by 2.6% to $0.93 and it is one of the unfortunate few within the STI that made losses for the day. According to the SGX, Noble will be reporting its second quarter results roughly a month from now on 7 August 2013. Noble’s first quarter results, released on 14 May 2013, saw it post a 62% decline in quarterly earnings to US$41.3m.

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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.