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Three Shares That Beat the Market Today

With Labour Day just around the corner, the Straits Times Index (SGX: ^STI) has decided to spread some public holiday cheer with a 0.8% gain to 3,265 points. Within the index’s 30 constituents, 16 shares had made some headway while eight others weren’t so lucky as they clocked losses.

It is earnings season now and it’s not uncommon to see shares react to their earnings results. Here are three shares that had happened to beat the market today after turning in their quarterly report cards.

Raffles Medical Group (SGX: R01) is up 2.8% to S$3.63. The healthcare operator has received a somewhat delayed reaction from the market. Its first quarter earnings were released on Monday morning before the markets opened but it had finished flat that day at S$3.42. Since then, it’s moved up 6.1% to where it is now.

Raffles Medical Group had seen an 8% year-on-year increase in revenue to S$87.6 million with its Healthcare services division leading the way with growth of 14.3%. The top-line expansion in turn led to an 8% uptick to S$14.6 million in profits for the company.

Oversea-Chinese Banking Corporation (SGX: O39) had gained 1.9% to S$9.65 with the market seemingly liking its first quarter earnings that were announced just this morning. The bank’s total income (analogous to revenue for companies in other industries) for the quarter had gone up 19% year-on-year to S$1.89 billion. This helped drive a 29% gain in profits to S$899 million, a quarterly record.

The bank had seen growth in its loan portfolio as well as net interest margin during the quarter, both of which had played some part, among other factors, in OCBC’s record-breaking quarter.

Great Eastern Holdings (SGX: G07) rounds up the trio with its shares up 1.4% to S$19.00 after reporting its first quarter financials yesterday. The insurer, which is 87% owned by OCBC, had seen its profits grow by 12% to S$231.6 million from a year ago. In OCBC’s press release, the bank mentioned that “Great Easter Holdings’ underlying insurance business achieved strong year-on-year performance, as reflected by 12% growth in new business weighted premiums and an 11% increase in new business embedded value.

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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 writer Chong Ser Jing owns shares in Raffles Medical Group.