Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-CIMB upgrades Noble to trading buy

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STOCKS NEWS SINGAPORE-CIMB upgrades Noble to trading buy May 3rd 2012, 01:53 Wed May 2, 2012 9:53pm EDT CIMB Research raised its rating on commodities firm Noble Group to trading buy from neutral, citing attractive valuations following the stock's recent underperformance, but kept its target price of S$1.40. Noble shares were up 0.8 percent at S$1.225. The stock has fallen around 11 percent since Noble reported a 57 percent drop in quarterly net profit in late February, underperforming the 1.2 percent rise in the broader Straits Times Index. Noble's operating environment was improving, with better soybean crush margins in China and a general bottoming out of commodity prices, CIMB said, adding that liquidity has also returned as European banks resumed trade financing activities. "With the worst of the downturn behind it, Noble is poised for sequential recovery in the first quarter of 2012," CIMB said. It noted improved industry performance, with companies such as Cargill Inc recently posting earnings growth. For related stories, click and 0945 (0145 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 08:42 STOCKS NEWS SINGAPORE-Index futures trade flat Singapore index futures were flat early on Thursday, indicating a lacklustre start for the benchmark Straits Times Index. Asian shares slipped on Thursday and the euro wallowed near a two-week low after disappointing data from both sides of the Atlantic rekindled concerns about the strength of the global economic recovery. 0840 (0040 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) Link this Share this Digg this Email Reprints

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