The Singapore market is expected to open higher this morning and hover above the 3,300-point level.
Stocks worldwide rose on Wednesday on signs a resolution of Greece's debt crisis appeared in hand, but US stocks later dropped from earlier levels after the prime minister called on Greeks to reject a bailout deal with international creditors, according to Reuters.
Stocks worldwide rose on Wednesday on signs a resolution of Greece's debt crisis appeared in hand, but US stocks later dropped from earlier levels after the prime minister called on Greeks to reject a bailout deal with international creditors, according to Reuters.
The Dow Jones industrial average rose 138.4 points, or 0.79%, to 17,757.91, the S&P 500 gained 14.31 points, or 0.69%, to 2,077.42, and the Nasdaq Composite added 26.26 points, or 0.53%, to 5,013.12.
Here are some stocks and factors that could move the market this morning:
Ascott REIT is acquiring the 411-key Element New York Times Square West hotel located in Midtown Manhattan for US$163.5 million ($220.7 million).
The accretive acquisition at an EBITDA yield of 6.2% is expected to increase Ascott REIT's distribution income in FY2014 by US$0.8 million, translating to a rise in distribution per unit from 8.44 cents to 8.51 cents on a pro forma basis.
Ascott REIT closed flat at $1.29 yesterday.
ST Engineering said Patrick Lee, former group financial controller of subsidiary ST Marine, pleaded guilty to a total of seven charges under section 477A of the Penal Code. He was charged with falsifying accounts on June 10. Earlier during the day, two other former employees of ST Marine, Han Yew Kwang and Tan Mong Seng, were charged in the State Courts of Singapore.
ST Engineering closed at $3.29.
Tiong Seng Holdings, the construction group and property developer, has won a $277.3 million building contract to develop JTC Space @ Tuas from JTC Corporation.
Tiong Seng closed at 13.6 cents.
Figtree Holdings, the designer and builder of commercial and industrial facilities, has secured a $65 million contract to design and build a state-of-the-art logistics hub in Singapore.
Figtree closed at 14.1 cents.
Lippo Malls Indonesia Retail Trust (LMIR Trust) has obtained a $200 million term loan facility to refinance existing debt and for working capital and general funding purposes.
LMIRT closed at 36.5 cents.
CFM Holdings, the fabricator of metal-stamped components, is acquiring a 10% stake in Midsouth Camca S.A. De. C.V. for $500,000.
CFM closed at 7.8 cents.
TIH Limited is investing US$1 million in Atlantic Pearl Limited (APL), a company which has been set up solely for the purpose of participating in a deal relating to food manufacturing in Indonesia.
TIH Limited closed at 71.5 cents.
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