How Did the Local Share Market Fare This Week?

The Straits Times Index  (SGX: ^STI) climbed 1.5% this week to end Friday at 3,525 points. This is the index’s highest close since early December 2007.

Of the 30 index components, 20 ended the week with gains, seven clocked losses, while the rest remained unchanged.

Singapore Technologies Engineering Ltd (SGX: S63) was the biggest winner in the STI; it had jumped by some 9% to S$3.81. Earlier this week, the engineering conglomerate had announced two separate pieces of good news for shareholders.

The first is that its aerospace division had clinched new contracts totalling S$298 million in the first three months of 2015. These contracts involve jobs ranging from “aircraft maintenance and cabin interior modification, to engine wash and pilot training.”

The second came from ST Engineering’s electronics division. Turns out, the division had secured S$383 million worth of new contracts in the same period as above for “Rail Electronics & Intelligent Transportation, Satellite & Broadband Communications, as well as Advanced Electronics & Information Communications Technologies (ICT) solutions”.

Jardine Strategic Holdings Limited (SGX: J37), with a 2.1% decline in share price to US$34.75 over the week, was the Straits Times Index constituent that lost the most ground. Last month, the company, with a market capitalisation of US$38.9 billion, announced its full year results – total revenue had inched up 2% year-on-year to US$62.8 billion while earnings had stepped up by 8% to US$1.8 billion.

Some other blue-chips like Keppel Corporation Limited (SGX: BN4) and Singapore Press Holdings Limited (SGX: T39) had announced their latest quarterly earnings during the week.

Keppel Corp, which saw its share price inch up 0.4% to S$9.25, experienced a 6.4% year-on-year increase in profit attributable to shareholders to S$360.2 million in its fiscal first-quarter. You can read more about Keppel Corp’s results release here.

Meanwhile, Singapore Press Holdings saw its  profit decline by 18.3% year-on-year to S$139 million for the six months ended 28 February 2015. The publisher of a wide-range of newspapers and magazines closed at S$4.13 on Friday, down 1% compared to the previous week.

Outside the index, SMRT Corporation Ltd (SGX: S53) made a surprise announcement that it will be linking up with OMGTel to try and enter Singapore’s telecommunications market. Shares of the land transport operator rose 3.4% to S$1.67 during the week.

Speaking of telcos, M1 Ltd (SGX: B2F) released its financial results for the quarter ended 31 March 2015 on Monday. Revenue grew 22.8% year-on-year to S$295 million while net profit increased 6.6% year-on-year to S$45.7 million.

Bargain hunters may be interested to look into Sarine Technologies Ltd (SGX: U77) as it slumped by some 20% to end the week at S$2.04. The plunge came amid the company’s announcement on Monday that its financial results for its upcoming quarter will be negatively affected due to a confluence of events. Sarine Technologies is currently trading at 19 times its historical earnings.

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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.