Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Shares rise, led by CapitaLand

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STOCKS NEWS SINGAPORE-Shares rise, led by CapitaLand Jun 15th 2012, 04:51 Fri Jun 15, 2012 12:51am EDT Singapore share were up by midday, reversing two straight days of losses as investors regained some confidence from plans by major central banks to limit potential fallout following this Sunday's Greek elections. At 0426 GMT, the benchmark Straits Times Index was up around 0.5 percent at 2,787.79. Other Asian bourses were also up, with the MSCI Asia-Pacific index excluding Japan gaining 0.7 percent, slightly outperforming Singapore. Officials from the G20 nations, whose leaders are meeting in Mexico next week, said that central banks were ready to take steps to stabilise financial markets - if needed - by providing liquidity and prevent any credit squeeze after Sunday's election. Property developer CapitaLand Ltd and rigbuilder Sembcorp Marine were the biggest gainers on the index, rising about 2.7 percent and 2.3 percent respectively. Sembcorp was also the second most-traded stock by value. 1232 (0432 GMT) (Reporting by Leonard How in Singapore; leonard.how@thomsonreuters.com) ************************************************************ 11:20 STOCKS NEWS SINGAPORE-DBS says S'pore tourism sector healthy Singapore's tourist arrivals in April rose 9 percent from a year ago, and could point to a record breaking performance for hoteliers in the second quarter, which will benefit the hospitality sector, said DBS Vickers. The brokerage also said the Singapore Tourism Board's (STB) target of 13.5 million to 14.5 million visitor arrivals this year could be exceeded. According to STB data, tourism arrivals for the month of April rose 9 percent to 1.2 million from a year earlier, raising year-to-date arrivals to 4.8 million. Hotel occupancy rates for April were at 87 percent with revenue per available room around S$227 per night, a 12 percent year-on-year jump, STB said. "Visitor arrival numbers should continue to remain robust given the expected strong line-up of Meetings, Incentives, Conventions and Exhibitions events in coming months," DBS said. Its top picks for the hospitality sector are CDL Hospitality Trusts, with a buy rating and target price of S$2.06, and Genting Singapore. It has a buy rating and target price of S$2.05 on Genting stocks. 1033 (0233 GMT) (Reporting by Leonard How in Singapore; leonard.how@thomsonreuters.com) ************************************************************ 09:57 STOCKS NEWS SINGAPORE-STX OSV rises after order win Shares of STX OSV Holdings Ltd rose as much as 3.52 percent after the offshore vessel builder said it had won a $235 million contract, prompting analysts to raise their target prices for the stock. By 0156 GMT, shares of STX OSV were up 3.2 percent at S$1.465, and have gained about 26 percent since the start of the year, compared with the FTSE ST Oil & Gas Index's 13 percent gain. STX OSV said its won a contract worth 1.4 billion Norwegian crown ($235 million) to design and build an advanced offshore subsea construction vessel for Ocean Installer and Solstad Offshore. CIMB Research said this was STX OSV's largest contract win since its listing in Singapore and its fifth subsea order so far this year. CIMB raised its target price for STX OSV to S$2.09 from S$2.02 and kept its 'outperform' rating, as it bumps up its order target for the company to 10 billion Norwegian crowns, from 9 billion Norwegian crowns. "Investment in drilling units in 2011 should pave the way for such vessels, which are needed for field development. We continue to see opportunities in the subsea segment," said CIMB. Another brokerage DMG & Partners also lifted its earnings per share estimates for STX OSV in 2012-2013 by 4-6 percent, upgrading its target price to S$2.05 from S$2.00. For a related statement click 0942 (0142 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 8:40 STOCKS NEWS SINGAPORE-Index futures up 0.1 pct Singapore index futures were 0.2 percent higher, indicating a slightly positive start for the benchmark Straits Times Index. Asian shares edged up on Friday, and the euro held most of the previous session's gains, as nervous investors took comfort from plans for coordinated action by major central banks to stabilise markets if Sunday's election in Greece results in turmoil. (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) Link this Share this Digg this Email Reprints

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