Friday, April 13, 2012

Singapore shares up on strong US earnings start

SINGAPORE - Singapore share prices ended 1.08% higher on Thursday, as investors cheered a positive start to the US corporate earnings season and as worries about eurozone government debt problems abated somewhat.

The blue-chip Straits Times Index rose 31.70 points to close at 2,978.14. In the broader market, volume totalled 3.30 billion shares, with gainers outnumbering losers 237 to 138.

Indonesian palm oil company Bumitama Agri made a spectacular debut on the Singapore Exchange, closing at S$0.98, 32% higher than its initial public offer price of S$0.745.

Other gainers included OCBC, which rose 1.5% to S$8.83, and shipbuilder Cosco Corp which climbed 1.4% to S$1.11.

- CNA/ir

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