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3 Things You Need to Know About the Singapore Stock Market Today

Welcome to a brand-new week, Fools! Here are three things about the local stock market that you might be interested in today.

1. The Straits Times Index (SGX: ^STI) ended the day flat at 3,291.56 points.

Conglomerate, SembCorp Industries Limited (SGX: U96), saw its shares surge some 3% to S$3.11. This made the firm the index’s best performer.

On the other hand, the biggest loser was Jardine Strategic Holdings Limited (SGX: J37), slumping 1.5% to US$43.13.

2. City Developments Limited’s (SGX: C09) wholly-owned subsidiary, Agapier Investments Limited, might be making a possible cash offer for London-listed subsidiary, Millennium & Copthorne Hotels (M&C), at 552.5 pence a share.

The offer is for the outstanding shares of M&C not owned by CDL and its subsidiaries currently; CDL indirectly owns 65.2% of M&C. The proposed offer price would consist of a cash amount of 545 pence and a special dividend of 7.5 pence per M&C share.

The offer price is at a 23.7% premium to M&C’s closing price of 446.7 pence on Aug 18, the last business day after which M&C received an initial proposal from CDL.

CDL said in its announcement that it “intends to maintain M&C’s current business model, in particular to run the business as an owner and operator of its hotel portfolio. CDL also confirms it has no intention to sell or repurpose any of M&C’s hotels in London or in New York”.

CDL must make a firm offer or state that it does not wish to do so before 5 pm on 6 November 2017. The firm has the right to make an offer at any time at a price below 552.5 pence per M&C share if certain conditions are met.

Shares of the property giant ended Monday at S$11.75, up 1.3%.

3. Singapore Exchange Limited (SGX: S68) reported the market statistics for September 2017. Some of the key highlights are presented below:

  • Total market turnover value for Securities was S$21.8 billion, growing 5% year-on-year over 20 trading days. There were 21 trading days in September 2016.
  • Total Derivatives volume was 16 million, up 19% year-on-year. Equity Index Futures volume was 12.1 million, up 8% year-on-year while total FX Futures volume was 1.3 million, rising 131% year-on-year.
  • SGX Commodity Derivatives volume was 1.7 million, up 44% year-on-year.

The stock market operator’s shares last changed hands at S$7.61, down 0.1% for the day.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of Singapore Exchange Limited. Motley Fool Singapore contributor Sudhan P owns shares of SembCorp Industries Limited and Singapore Exchange Limited.