Posts by Stephanie Irvin
Hong Kong shares jump to 31-month peak
Hong Kong stocks rose nearly 3 per cent on Friday (Oct 4) to close at their highest level since March 2022, still cheering China’s massive economic stimulus proposals, while other global markets were skittish about escalating tensions in the Middle East. Asian stocks fell, and oil prices were headed for their sharpest weekly gain in…
Read MoreDSV sells new shares for 5 billion euros without discount for DB Schenker deal
DSV has sold new shares for five billion euros (S$7.1 billion) without resorting to a discount, as a number of high-profile investors bought large stakes in the Danish freight-forwarding company. The accelerated bookbuilding process priced the shares at 1,410.50 kroner apiece, the company said on Friday (Oct 4). It matched the high end of a…
Read MoreUK Rolex dealer buys watch site Hodinkee backed by LVMH, Tom Brady
WATCHES of Switzerland Group is buying Hodinkee, a US watch enthusiast site backed by LVMH and Tom Brady that racked up losses after an ill-timed foray into selling used models online. The British company, which is the top seller of Rolex watches in the country and a major retailer in the US, said the deal…
Read MoreHot stock: Seatrium boosted to over 6-month high on heavy trading
SHARES of Seatrium advanced amid a steady surge in trading volumes in the morning trading session on Friday (Oct 4) and closed at S$1.99, 12.4 per cent or S$0.22 higher. As at 11.59 am, the index counter had jumped 11.3 per cent or S$0.20 to an intraday peak of S$1.97. The last time its share…
Read MoreSudden shift in China metals sentiment drives LME Week optimism
METALS traders arriving in London for LME (London Metal Exchange) Week were in for a surprise as they caught up with friends and customers from China. For the last couple of years, the biggest consumer and producer has been a buzzkill for metals bulls. Now suddenly Chinese representatives were among the most bullish in any…
Read MoreHot stock: Parkson Retail Asia surges as much as 16.2% upon watch list exit
SHARES of Parkson Retail Asia spiked on Friday (Oct 4) morning amid heavy trading volumes, following an announcement by the mainboard-listed department store retailer that it was exiting the Singapore Exchange (SGX) watch list after more than four years. As at 9.04 am, the counter had risen 16.2 per cent or S$0.011 to S$0.079 with…
Read MoreOng Beng Seng remains as managing director of Hotel Properties after being charged
HOTEL Properties Ltd (HPL), which requested a trading halt before the market opened on Friday (Oct 4), announced after managing director Ong Beng Seng was charged that he “continues to be suitable to carry out his duties and responsibilities” in that role. In a filing on Friday evening, the property player said that the board…
Read MoreStocks to watch: UOB, Qian Hu
THE following companies saw new developments that may affect trading of their securities on Friday (Oct 4): UOB: The bank’s Sydney branch is set to issue A$100 million (S$88.8 million) in floating-rate senior unsecured notes, which are expected to be rated Aa1 or AA- by major ratings agencies. The coupon rate is the Australian benchmark…
Read MoreGermany to vote against EU tariffs on Chinese electric vehicles: sources
GERMANY on Friday (Oct 4) will vote against the introduction of European Union tariffs on Chinese electric vehicles, sources with knowledge of the matter said on Thursday. Germany abstained in a first non-binding vote in July on the European Commission’s proposal to impose the tariffs, but since then industry has pressured German Chancellor Olaf Scholz…
Read MoreExxonMobil expects third-quarter earnings were hit by lower oil prices
A SLUMP in oil prices probably reduced ExxonMobil’s third-quarter upstream earnings by US$600 million to US$1 billion, the oil major signalled in a regulatory filing published on Thursday (Oct 3). Oil prices fell by 17 per cent in the third quarter, the largest quarterly decline in a year, on worries about the global oil demand…
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