Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-OCBC cuts Cache Logistics target price

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS SINGAPORE-OCBC cuts Cache Logistics target price Apr 11th 2012, 01:24 Tue Apr 10, 2012 9:24pm EDT OCBC Investment Research has cut its target price for Singapore's Cache Logistics Trust to S$1.11 from S$1.19, while keeping its buy rating, to reflect the private placement of new units. Units of Cache were unchanged at S$0.995 and have gained 4.8 percent so far this year. Last month, Cache Logistics issued 60 million new units at S$0.985 each, which saw strong take-up from Asian and European investors, the broker said. Proceeds will be used to fund the purchase of a Singapore industrial property and the acquisition will give the trust additional debt headroom of S$120 million, OCBC said. "We continue to favour Cache as one of the preferred picks in the industrial REIT (real estate investment trust) space," it added. (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 08:49 STOCKS NEWS SINGAPORE-Index futures down 1 pct Singapore index futures are currently down by about 1 percent, signalling a weak start for the benchmark Straits Times Index on Wednesday. Asian shares were lower in early trade, as uncertainty over global growth prospects, and resurfacing worries about debt restructuring in the euro zone, prompted investors to continue trimming their risk exposures. For related story, click [ID:nL3E8FA2VY} (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions