Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-NOL up after loop plan cancelled

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STOCKS NEWS SINGAPORE-NOL up after loop plan cancelled May 3rd 2012, 03:43 Wed May 2, 2012 11:43pm EDT Shares of Neptune Orient Lines rose to a two-week high after a plan to add an Asia-Europe service loop was cancelled, a move that analysts said signals shipping lines' discipline not to add more capacity. NOL shares gained as much as 4.4 percent to S$1.305, the highest since April 17. But the shares are still down around 8 percent since the world's seventh-biggest container shipping firm reported a fourth-quarter net loss in late February. On Wednesday, NOL said a group of six liners, of which its container shipping firm APL is a member, decided that market conditions have not improved and could not justify additional service between Asia and Europe. "It's positive in the sense that they are not adding more capacity in the market right now. This will help to sustain rates in the Asia-Europe lane, as long as the other competitors don't add more loops," said a local analyst. "It shows that the liners are intent on maintaining capacity discipline." The G6 Alliance members include Hapag-Lloyd, Hyundai Merchant Marine, Mitsui O.S.K. Lines , Nippon Yusen Kaisha and Orient Overseas (International) Ltd's shipping unit Orient Overseas Container Line. 1129 (0329 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 09:53 STOCKS NEWS SINGAPORE-CIMB upgrades Noble to trading buy 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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