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Hot stock: Noble shares continue downward trend on Monday

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.

sentifi.com

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