Noble Group Limited Leads The Pack As Singapore’s Stocks Put On Gains For The Week

This week saw only three-and-a-half trading days due to the New Year’s Eve and New Year holidays. The Straits Times Index (SGX: ^STI) gained 17 points, or 0.5%, to end the first week of 2015 at 3,371 points.

Of the index’s 30 components, 18 of them ended the week with gains, seven were in the red, while five were flat. Commodities trader Noble Group Limited (SGX: N21) led the pack as it put on 4% to S$1.16.

On the other hand, another commodity firm, Olam International Ltd (SGX: O32), moved in the opposite direction as it lost 2.4% to S$2.04. In the middle of last month, Olam announced that it will be buying the worldwide cocoa business of Archer Daniels Midland Co., an American global food-processing outfit and one of the largest of its kind in the world. The deal is valued at US$1.3 billion.

Outside the index we have Hyflux Ltd. (SGX: 600) surging by 4.4% to close at S$0.835. On 19 December 2014, the provider of integrated water management and environmental solutions said that “a consortium comprising Hyflux Ltd and National Power and Water Co., LLC has received a letter of award for an international tender to design, build, own and operate an independent water project in Qurayyat, Sultanate of Oman from the government-owned Oman Power and Water Procurement Company SAOC. The project is worth an estimated US$250 million.” Shares of Hyflux are going at 10 times historical earnings now.

The STI is trading at a price-to-earnings ratio of 13.7 and has a market capitalisation of S$551 billion.

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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.