Noble gain pared as Iceberg warns it'll release 3rd report
Singapore
THE looming threat of yet another attack by obscure research outfit Iceberg Research took the wind out of Noble Group's sails on Friday after the stock initially surged following rumours of a potential takeover.
Noble shares had climbed after reports that the commodities trader's recent slump in its market value made it a potential takeover target. Recent announcements that fund houses had snapped up more shares in Noble over the past few days also spurred the rally.
The counter rose to as high as S$0.91 in the afternoon but later beat a retreat to end the day at S$0.875, just 2.5 cents up from the previous close. A staggering 92.4 million shares changed hands, making it the most active stock…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Bitcoin 'halving' has taken place: CoinGecko
Lululemon to shutter Washington distribution center, lay off 128 employees
Wall Street bonus rules return to regulatory agenda in third try
Honda to invest US$808 million in Brazil by 2030
US: Nasdaq, S&P tumble as Netflix, chip stocks drag
Europe: L’Oreal gains cap third week of declines