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Hot stock: Noble shares continue downward trend on Monday

Monday, March 2, 2015 - 09:38

SHARES of commodities firm Noble Group continued its downward trend in early morning trade on Monday.

The counter fell more than 4.1 per cent or four Singapore cents to S$0.935, with some 24.6 million shares changing hands about half an hour after the market opened.

The weak showing comes after Noble's shares plunged 8 per cent last Friday after the company reported a shock US$240 million loss for the fourth quarter ended Dec 31, 2014, largely due to an unexpected US$438 million write-off.

The commodities trader also faced further criticism on its accounting practices from Iceberg Research last week.

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