Singapore Stocks-Likely down; SingTel, Noble in focus

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Singapore shares are likely to open lower on Thursday after U.S. stocks plunged more than 3 percent overnight as investors saw the spike in Italian bond yields as a signal that the European debt crisis had worsened.

Singapore Telecommunications may be in focus after it posted its sixth straight year-on-year decline in quarterly profit, hit by smaller contributions from Indian associate Bharti Airtel .

Singapore-listed commodities firm Noble Group may also be in the spotlight after reporting on Wednesday its first

quarterly loss in more than a decade, hurt by turbulence in commodity prices as the global economy weakened.

It announced on the same day that chief executive Ricardo Leiman had quit for personal reasons, and that chairman and founder Richard Elman will run the company until a successor is

named.    

 

----------------------MARKET SNAPSHOT @ 2354 GMT ------------

INSTRUMENT   LAST       PCT CHG   NET CHG

S&P 500                   1229.1      -3.67%   -46.820

USD/JPY                   77.74       -0.05%    -0.040

10-YR US TSY YLD     1.9659          --     0.000

SPOT GOLD                 1772.79      0.18%     3.250

US CRUDE            CLc1       95.75        0.01%     0.010

DOW JONES                 11780.94    -3.20%   -389.24

ASIA ADRS                116.14      -3.83%     -4.62

-------------------------------------------------------------

 

> Wall St sinks as European debt plight worsens          

> U.S. bonds gain on safety bid as Italy fears mount    

> Euro drops most in 15 months as Italy worries grow  

> U.S. gold futures drop more than 1 pct              

> Crude falls on Europe woes, shrugs U.S. draws        

Stocks and factors to watch:

-- CAPITAMALL TRUST

- Singapore shopping mall owner CapitaMall Trust on Thursday

requested a halt in the trading of its shares pending release of

an announcement related to its proposed private placement. The

company said on Oct 31 that it planned to issue up to 139.7

million new units at between S$1.79 and S$1.85 each.

-- STARHUB

- StarHub, Singapore's second-biggest telecom firm, said on

Wednesday its third-quarter net profit fell 7.6 percent from a

year ago as operating expenses rose faster than revenue.

-- YANLORD LAND GROUP

- Singapore-listed Chinese developer Yanlord said on

Wednesday its third-quarter net profit plunged 99 percent to 6.5

million yuan ($1 million) from a year earlier, hurt by lower

gross floor area delivered to customers and average selling

price per square metre, as well as greater net foreign exchange

loss.

- Singapore's benchmark Straits Times Index fell

0.27 percent on Wednesday to 2,858.66 points.

- The Dow Jones industrial average lost 3.20 percent

to finish at 11,780.94. The Standard & Poor's 500 Index

retreated 3.67 percent to 1,229.10. The Nasdaq Composite Index

sunk 3.88 percent to 2,621.65.

ASIA-PACIFIC STOCK MARKETS:

Japan             S.Korea       China  

Hong Kong        Taiwan        SE Asia

Australia/NZ     India      

OTHER MARKETS:

Wall Street       Gold         Currency  

Eurostocks       Oil           JP bonds  

ADR Report      LME metals  US bonds  

STOCKS NEWS US, Europe, Asia:

DIARIES & DATA:

IPO diary & data

U.S. earnings diary

Singapore diary

Eurostocks Week Ahead

Asia earnings diary

European diary

Wall Street Week Ahead

TOP NEWS:

Asian companies       U.S. company

News

European companies    Forex news

Global Economy       Technology

Telecoms            Media news

Banking news

General/political

Asia Macro

A multimedia version of Reuters Top News is available at:

topnews.session.rservices.com

LIVE PRICES & DATA:

World Stocks        Currency rates  

Dow Jones/NASDAQ  Nikkei

FTSE 100 Debt

(Local currency) LME price overview

($1 = 6.340 Chinese Yuan)

 

source: reuters.com

 

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