U.S. stocks ended little changed on Monday after the biggest U.S. takeover deal proposed this year helped offset the comments by influential investor Warren Buffett, one of the deal's backers, that the country could face a long and deep recession.
Stocks and factors to watch:
- Malaysia's cement maker Tasek Corp Bhd has agreed to buy a building materials business from Hong Leong Asia for S$323.5 million ($238 million) in an all-share deal, Tasek said.
- Following the resignation of its chairman, Jade Technologies said Sam Chong Keen will replace Group President Anthony Soh, who will remain in the firm as an non-executive director.
- Neptune Orient Lines , the world's eighth-biggest container shipping firm, said it carried 13 percent more containers on its ships in the four weeks to April 4 compared with the same period a year ago.
- Goldman Sachs has cut its share price target for Jardine Cycle & Carriage to S$20.40 from S$24.60 after lowering its earnings estimates and price target for the firm's Indonesian unit, Astra International , due to falling domestic consumption.
- Property developer Allgreen Properties said its first-quarter net profit fell by 64.8 percent, citing a decrease in development properties due to a slowdown in the property market.
- Singapore Airlines said one of its flights to Paris was diverted to India's capital New Delhi because of engine trouble.
- Singapore's benchmark Straits Times Index <.FTSTI> rose 0.39 percent to 3,201.63 points on Monday.
- The Dow Jones Industrial Average <.DJI> fell 0.16 percent to 12,871.75 points, and the Nasdaq Composite Index <.IXIC> gained 0.06 percent to 2,424.40 points.
(Reporting by Tan Wei Xin; Editing by Jan Dahinten) ((weixin.tan@reuters.com; +65 6403 5667; Reuters Messaging: weixin.tan.reuters.com@reuters)
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