Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Index rises to 1-year high; F&N at record

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STOCKS NEWS SINGAPORE-Index rises to 1-year high; F&N at record Aug 6th 2012, 05:46 Mon Aug 6, 2012 1:46am EDT Singapore shares rose to their highest in more than a year after better-than-expected jobs data from the United States, while drinks and property firm Fraser and Neave Ltd was among the biggest gainers after a deal with Heineken . The Straits Times Index gained as much as 1.1 percent to 3,086.18 points, the highest since Aug 4 last year. MSCI's broadest index of Asia-Pacific shares outside Japan was 1.7 percent higher. F&N shares jumped to a record on speculation that a break-up of the Singapore conglomerate will unlock more value after its board accepted Heineken's $4 billion offer for its stake in Asia Pacific Breweries. F&N shares rose as much as 4.9 percent to S$8.55 on volume of nearly 6 million shares, 1.4 times the average full-day volume over the past 30 days. F&N was the top traded stock by value in the Singapore market. Shares of DBS Group Holdings rose as much as 1.5 percent after Maybank Kim Eng and OCBC Investment Research raised their target prices on the bank following a 10 percent increase in its second-quarter result. Shares of energy, water and marine group Sembcorp Industries gained as much as 1.5 percent to S$5.37. UOB Kay Hian upgraded the stock to 'buy' and raised its target price to S$6.20 from S$5.20, after increasing its 2012-2014 earnings forecasts by 3-7 percent on better-than-expected utilities earnings. 1328 (0528 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) *********************************************************** 12:49 STOCKS NEWS SINGAPORE-Maybank Kim Eng, OCBC raise target on DBS Maybank Kim Eng and OCBC Investment Research raised their target prices on Singapore's DBS Group Holdings after the bank beat forecasts with a 10 percent increase in its second-quarter net profit. DBS shares were up 1.2 percent at S$14.93 on Monday. The stock has gained around 30 percent so far this year versus the 16 percent gain in the broader Straits Times Index. OCBC increased its target on DBS stock to S$15.94 from S$15.40 and maintained its buy rating, after raising its 2012 fiscal year earnings estimate to S$3.25 billion ($2.6 billion) from S$3.14 billion. While market conditions are expected to remain challenging, DBS's management strategy such as to increase cross-selling, raise productivity, reduce its cost-to-income ratio and grow its key businesses may help ensure a healthy second half, OCBC said. Maybank increased its target price to S$13.10 from S$12.10 to take into account a higher price-to-book value of 1.05 times versus 0.97 times previously and a bigger 2012 return on equity of 11.1 percent from 10.8 percent. The broker noted that DBS's loan momentum picked up in the second quarter and liquidity remains ample, but the bank still faces net interest margin pressure and external headwinds. Maybank maintained its 'sell' rating on DBS stock. For a related story, click 1236 (0436 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ($1 = 1.2432 Singapore dollars) Link this Share this Digg this Email Reprints

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