Keppel shares up; analysts warn of long drought

Singapore

SHARES of Keppel Corporation rose on Tuesday, despite the company reporting a slump in first-quarter earnings at the start of the week, even as some analysts warn of a long drought ahead for the oil and gas giant, and are watching the group's gearing level closely.

The stock closed at S$6.07 at the end of trading, up seven cents or 1.17 per cent. Some seven million shares changed hands.

Analysts, most of whom now have a "hold" rating on the stock, according to Bloomberg data, noted that Keppel's property portfolio is now holding the fort, with the division making up 47 per cent of group…