The Singapore stock market concluded the week with a positive note. The Straits Times Index (SGX: ^STI) rose 0.1% to 3,861.42, supported by strong revenue from local businesses and trust from new investors.
Singapore Stock Highlights of the Week
The Singapore Exchange (SGX: S68) rises 10% to reach 17 years’ height
Singapore Exchange Ltd appeared as a star performer this week. Its shares surged 10% at S$13.99 S$13.99 for the six months ended in December after reporting a 20.7% jump in net profit to S$340 million. Strong demand for cash stocks and derivative products played a key role in this impressive gathering. Against the backdrop of strong revenue, SGX’s stock price has been in tears since last year.
F&N (SGX:F99) is more robust Q1 results
F&N rose 1.6% to 1.29 S$1.29 after reporting a strong 18.8% jump in net profit for the first quarter, ending December 31, 2024, to S$52 million.
ST Engineering (SGX: S63) is still a safe bet
ST Engineering was stable amidst market fluctuations. It closed at S$5.00 on February 7 with a profit of 3.52%, and the company continues to ensure consistent contract victory and maintains a strong reputation in defense and technology services. ST Engineering has been a consistent dividend payer over the past decade and appears to be ready to keep on doing well.
Frasers Logistics & Commercial Trust (SGX: NBUOU) is steadily progressing
Frasers Logistics & Commercial Trust (FLCT) reported solid performance in the first quarter, which ended December 31st. The stock was closed at S$0.885 (+0.57%), reflecting Australia’s e-commerce growth and optimism in industrial demand. At this stock price, FLCT’s units offer a subsequent distribution yield of 7.7%. With 175,000 square meters of lease activity secured, FLCT is suitable for long-term growth.
US market: trade tensions fall
The US market was facing headwinds this week, mainly due to escalating trade tensions and weak economic data. The Dow Jones fell 0.54% to 44,303.40, the S&P 500 soaked 0.24% to 6,025.99, and the Nasdaq fell 0.53% to 19,523.40.
Economic factors also play a role, with U.S. employment growth slowing down to 143,000 non-farm payroll in January, with unemployment rates steady at 4%. President Donald Trump’s warnings about new tariffs further shocked trade tensions and added uncertainty to market outlook.
US Stock Highlights
ELF Beauty (NYSE: ELF): ELF Beauty stocks fell 19.6% after the company reduced its annual revenue and profit forecasts. The substantial decline reflects investors’ concerns about competitive pressures and delayed demand for cosmetic brands. Expedia (NASDAQ: EXPE): In contrast, Expedia surged 17.3% thanks to strong fourth revenue driven by strong travel demand and effective cost management, resulting in an ongoing post-pandemic travel boom. I’ve checked. Uber (NYSE: Uber): Uber has garnered 6.6% following the massive stake news in Bill Ackman’s company, sparking renewed interest in a global expansion and diversification strategy.
European stock highlights
European stocks surged this week, with the Stoxx 600 closing at a record high of 544.84 points, up 1.17% on February 6th. The mining company led the rally, supported by strong revenues and rising metal prices.
ArcelorMittal surged 13.3% after optimistic demand forecasts, while Swedish miner Boliden rose 13% thanks to better revenue than expected. Copper producer Aurubis won 7.4% as the rise in base metal prices increased investors’ confidence.
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Disclosure: Joanna SNG owns stakes in Singapore Exchange, ST Engineering, and Frasers Logistics and Commercial Trust.
