Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Maybank says Noble is top commodity trader pick

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STOCKS NEWS SINGAPORE-Maybank says Noble is top commodity trader pick Sep 6th 2012, 03:26 Wed Sep 5, 2012 11:26pm EDT Maybank Kim Eng said its top pick among the Singapore commodities traders was Noble Group Ltd as it saw an earnings recovery story in the current financial year, as well as a more diversified portfolio from energy to agriculture. Noble's balance sheet also looks robust with the gains from the Yancoal-Gloucester deal, Maybank said. Noble shares were up 0.4 percent at S$1.175 on Thursday. The stock has risen 4 percent so far this year versus the 13 percent gain in the Straits Times Index. Investors hoping for a turnaround in the sector would have generally been disappointed with the recent set of second-quarter results, Maybank said, noting that most of the earnings weakness still appears traceable to China. Assuming that the Federal Open Market Committee in the United States announces a third quantitative easing, Maybank said it believes the positive share price impact is likely to be even more muted than the second easing, and has probably been factored in by now. The broker has a 'buy' rating on Noble, a 'hold' on Olam International Ltd and a 'sell' on Wilmar International Ltd. 1120 GMT (0320 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com)

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