Metro Holdings Boosts Index
May 05, 2011
The Straits Times Industrials Index rose 18.79 to 2181.52 of about 92.3 million shares. Advancers led decliners 167 to 122, with 257 issues ending unchanged. Other closely followed market indexes also rose. The DBS-50 Index of stocks from different sectors was up 4.30 to 556.99. The UOB-OTC index, which tracks Malaysian over-the-counter shares, added 2.31 to 1182.98. Retail and property group Metro Holdings Ltd. gained 1.55 Singapore dollars to S$6.05. Analysts said a block of 35,000 Metro shares was traded at S$4.40 each Friday morning. Renewed rumors that property developer First Capital Corp. would raise its stake in Metro boosted the share price, observers said. Marine-salvage operator Sembawang Maritime, in which major shareholder Sembawang Corp. is making a general offer at S$3.70, rose 50 cents to S$3.72. Analysts said institutional investors and fund managers sold off foreign shares of blue chips. Foreign shares of Singapore Airlines Ltd., Singapore Press Holdings Ltd., Oversea-Chinese Banking Corp. and Development Bank Of Singapore Ltd. led the day's decliners. Singapore Press Holdings fell 20 cents to S$25.20.
VastPress 2011 Vastopolis
