Oil proxies among main laggards in market
Data unexpectedly showing US inventories rising against street expectations led oil prices to fall for second day
WITH oil prices falling for a second day after data unexpectedly showed US inventories rising against street expectations, the Singapore market's proxies for black gold were understandably lower on Thursday.
Upstream oil and gas firms like Rex International eased 0.6 Singapore cent or 3.2 per cent to 18.3 cents while GSS Energy fell 0.3 Singapore cent or 3.4 per cent to 8.5 cents.
Companies with sizeable exposure to the offshore and marine (O&M) sector also in the red.
Rig builder Sembcorp Marine retreated S$0.03 or 2.3 per cent to S$1.26 while conglomerate Keppel Corp dipped S$0.…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Hotel Properties prices 5-year notes at 5.1%
Apple to hold launch event on May 7, with new iPads expected
OUE Reit obtains S$600 million unsecured sustainability-linked loan
US: Wall St opens higher as more earnings roll in
GE Aerospace raises earnings goal on strong engine sales
BRC Asia to buy 19.9% of steel reinforcement company for S$16 million