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The Singapore Market for the Week

Singapore’s market barometer the Straits Times Index  (SGX: ^STI) had added 20 points, or 0.6%, to close at 3,354 on Friday. Of the index’s 30 components, 12 ended the week with gains, 17 were in the red, while Capitaland Mall Trust (SGX: C38U) ended the week unmoved.

Transport operator ComfortDelgro Corporation Ltd  (SGX: C52), with a 4.6% gain to S$3.20, came in as the best performer in the index.

The company said during its latest fiscal first-quarter earnings release that it may see higher revenue going forward from its bus, taxi, and rail operations in our country. It also added that its bus operations in the United Kingdom could see growth after new routes were started in the first quarter and contract price adjustments were made. However, ComfortDelgro warned that its overall business will continue to be bogged down by “keen competition and cost pressures.”

Meanwhile, Global Logistic Properties Ltd (SGX: MC0) is the worst performing blue chip with its shares slumping 4.3% to S$2.65.

On 10 June 2015, news reports emerged that the logistics facilities and services provider was in talks to gobble up more than 200 warehouses in the United States that are valued at around US$4.5 billion. Global Logistics Properties clarified the news the next day, saying that “it has not entered into any binding contractual agreement in this regard.”

 

The SPDR STI ETF (SGX: ES3), a proxy for the Straits Times Index, is now trading at 13.5 times its trailing earnings and has a dividend yield 2.7%.

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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.