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4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Singapore Telecommunications Limited    STEL   SG1T75931496

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Singapore Shares End Flat In Quiet Session Before Holiday

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04/30/2012 | 12:09pm CEST

Singapore shares closed flat Monday after a lackluster session that saw low-volume trade, as many market participants stayed away from their desks ahead of a public holiday in Singapore Tuesday.

Despite gains for major markets across most of the region following some upbeat earnings results in the U.S. on Friday, the local market slipped a little in a technical move, following four straight sessions of gains last week.

The benchmark Straits Times Index closed 0.1%, or 3.01 points, lower at 2,978.57, well off its intraday low of 2,966.53. Markets in Singapore will be closed Tuesday for the Labour Day public holiday.

"It's mainly profit-taking and some worries about U.S. GDP that's taking the index down a little bit," said Lee Kok Joo, head of research at Phillip Securities.

"U.S. GDP did not come in as strongly as expected and that might weigh a little bit," he added. He expects the STI to find support at the 2,950 level, with 3,000 posing resistance.

Losers outnumbered gainers 257 to 149 and volumes were lower at 2.36 billion shares compared with 3.34 billion Friday. The value of shares traded amounted to S$1.27 billion, steady from Friday's level.

Container shipper Neptune Orient Lines was the day's top-performing blue chip, closing up 2.5% at S$1.235, in a rebound following a recent selloff.

The gains coincided with a report from OCBC Investment Research, which said there has been a disconnect between NOL's stock price and container freight rates, with the former falling 17% from the recent S$1.45 high hit on April 3.

"The correction...does not seem warranted. The SCFI (Shanghai Containerised Freight Index) is currently 43% higher than this time last year," the house noted, while upgrading its investment rating on the stock to Buy from Hold.

Singapore Telecommunications, or SingTel, ended up 0.6% at S$3.12 in above-average volume trade, recovering from its 1.3% decline on Friday, which came on confirmation the company had sold its entire 4% stake in Taiwan's Far EasTone Telecommunications, raising approximately S$339 million.

Carey Wong, an analyst at OCBC, said the counter had been oversold on Friday following the news.

Among other actively traded blue chips, banks ended mixed, with DBS Group down 0.3% at S$13.96 while Oversea-Chinese Banking Corp. added 0.1% to S$8.96 and United Overseas Bank gained 1.3% to S$19.25.

-By Matthew Allen, Dow Jones Newswires; +65 64154 158; [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
NEPTUNE ORIENT LINES LTD. 0.00% 1.3 End-of-day quote.0.00%
OVERSEA-CHINESE BANKING CORP. LIMITED 1.64% 12.99 End-of-day quote.4.76%
SINGAPORE TELECOMMUNICATIONS LIMITED 0.00% 3.34 End-of-day quote.-6.70%
UNITED OVERSEAS BANK LTD 0.89% 29.49 End-of-day quote.11.70%
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Financials ( SGD)
Sales 2019 17 804 M
EBIT 2019 2 840 M
Net income 2019 3 641 M
Debt 2019 9 590 M
Yield 2019 5,37%
P/E ratio 2019 14,80
P/E ratio 2020 13,77
EV / Sales 2019 3,60x
EV / Sales 2020 3,51x
Capitalization 54 539 M
Chart SINGAPORE TELECOMMUNICATIO
Duration : Period :
Singapore Telecommunicatio Technical Analysis Chart | STEL | SG1T75931496 | 4-Traders
Technical analysis trends SINGAPORE TELECOMMUNICATIO
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 4,03  SGD
Spread / Average Target 21%
EPS Revisions
Managers
NameTitle
Sock Koong Chua Group CEO & Non-Independent Executive Director
Simon Claude Israel Chairman
Cheng Cheng Lim Group Chief Financial Officer
Chin Kok Chong Group Chief Technology Officer
Peter Mason Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SINGAPORE TELECOMMUNICATIONS LIMITED-6.70%40 628
VERIZON COMMUNICATIONS-8.50%200 769
NIPPON TELEGRAPH AND TELEPHONE CORP-4.12%101 610
DEUTSCHE TELEKOM-8.52%75 323
TELEFONICA-2.14%47 957
ORANGE-1.24%46 515