Welcome to a brand-new week, everyone. Here are three things about the local stock market and investing in general that you might be interested in today.
1. The Straits Times Index (SGX: ^STI) rose to its highest level in more than 10 years once again. For the day, it closed at 3,569.43 points, up 19.07 points or 0.54% as compared to its previous close on Friday.
Out of the 30 index stocks, the biggest winner was Jardine Matheson Holdings Limited (SGX: J36). The conglomerate’s shares went up 4.8% to US$65.50.
On the other hand, Yangzijiang Shipbuilding Holdings Ltd (SGX: BS6) lost the most ground among the blue-chips, sliding 2.4% to S$1.60.
2. The earnings season has started.
Local bourse operator, Singapore Exchange Limited (SGX: S68), released its second-quarter financial results last Friday. For the latest quarter, revenue went up 2.7% year-on-year to S$205.1 million, but net profit was flat. You can learn more from the earnings coverage here.
Singapore Exchange ended the day at S$8.35, gaining 4.6% to come in as the second-best performer of the Straits Times Index.
When asked to explain the unusual price movements, M1 said that it was not aware of any information, other than those announced previously, that might explain the erratic trading. It added that it would be releasing its 2017 financial results after the market closes tomorrow.
As for Noble, it pointed out a Bloomberg report published today with the title, “China’s Cedar Said to Be Interested in Noble Group Purchase”. This news might have stirred some interest in the embattled commodity group.
It also said that as previously announced, it is still in talks with some potential strategic parties and that there is no guarantee that the discussions will bear fruit. However, Noble feels that the talks are “open and constructive” and that there is some progress made.
M1 closed at S$1.86 for the day, increasing 3.3%, while Noble’s shares ended the day at S$0.27, ballooning 31.7%.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of Singapore Exchange Limited. Motley Fool Singapore contributor Sudhan P owns shares in Singapore Exchange Limited.