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The Singapore Market this Week

The Straits Times Index (SGX: ^STI) closed at 3,262 points on Friday, down 0.3% from last week’s close of 3,252 points. This week saw only four trading days due to the Vesak Day public holiday on Tuesday. On the same day (Monday evening in the United States), the Dow Jones industrial Average and the S&P 500 both closed at new all-time highs of 16,695.5 points and 1,896.7 respectively. It seems this had a knock-on effect on the STI as it gained 1.1% on Wednesday.

For the week, among the STI’s 30 constituents, 15 finished in the green, 13 were in the red and the rest were flat.

The largest weekly gainer in the index was ComfortDelGro Corporation (SGX: C52). The world’s second largest publicly-listed land transport operator saw its first quarter revenue hit a new-high of S$950.8 million after growing by 9.2% year-on-year. The record came about mainly due to broad-based growth in its main businesses and favourable currency fluctuations involving the pound and reminbi against our dollar. Consequently, net profit for ComfortDelGro had climbed by 9.7% to S$63.3 million as well. The transport company closed at S$2.28 on Friday, gaining some 12% for the week.

On the other hand, City Developments (SGX: C09) lost the most ground, falling 5% throughout the course of the week to close at S$10.35. The property firm had a dismal first quarter in 2014 where there was a 13% year-on-year decline in net profits. The fall in profit was mainly due to a lack of one-off gains in relation to the disposal of several strata units which appeared in the corresponding quarter last year.

Outside the blue-chip arena, Singapore Post (SGX: S08) went up by around 3%, closing at S$1.445. It released its full year results on Friday. The mailman’s  annual revenue grew by 24.6% year-on-year to S$821.1 million on the back of contributions from acquisitions and increased e-Commerce related revenue in all business segments. Net profit meanwhile, increased by just 4.8% from S$136.5 million to S$143.1 million. A final dividend of 2.5 Singapore cents per share will be paid out. Together with the interim dividend payment of 1.25 cents per share for each of the first three quarters, the total dividend for the year would come up to 6.25 Singapore cents per share. The company added that it will, unless something drastic occurs, “endeavour to pay a minimum annual dividend of 5 cents per share”.

The STI is currently trading at a historical PE ratio of 13.8.

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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 Sudhan P doesn’t own shares in any companies mentioned.