Friday 29 Mar 2024
By
main news image

SINGAPORE (Feb 27): Singapore shares headed mostly lower as weaker earnings from a number of companies kept investors at bay.

At 10:15am (0215 GMT), market breadth was negative and the Straits Times Index was little changed at 3,425.34, with gains by index heavyweight Singtel mitigated by losses in most other blue chips.

Noble Group fell the most among large caps, down 5.7% at $1.00, as news of its huge impairment charges in 2014 sent investors rushing for the exit.

Noble incurred its first quarterly loss in three years in 4Q2014 following a $438-million write-down, of which US$200 million related to Yancoal Australia.

ST Engineering fell 1.1% to $3.51 after the group said its 4Q2014 earnings declined 16% y-o-y to $140.3 million and warned that its 2015 pre-tax profit and revenue are unlikely to exceed last year's.

Golden Agri-Resources declined 1.2% to 40.5 cents after the palm oil producer turned in a 4Q2014 net loss of US$21.9 million.

Yangzijiang Shipbuilding gave up 2.4% to $1.21, also hurt by weaker results. 

      Print
      Text Size
      Share