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UOB shares surge to all time high

Monday, April 27, 2015 - 16:44
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United Overseas Bank (UOB) on Monday rose to an all time high of S$25.02.

United Overseas Bank (UOB) on Monday rose to an all time high of S$25.02.

As at 16:23, it was up 30 cents or 1.2 per cent to S$25.00 with heavy turnover of 2.45 million shares traded.

UOB reports Q1 2015 results on Thursday.

The stock has been rallying since the Monetary Authority of Singapore maintained status quo on policy front on April 14, said a source.

"So, incrementally, that should be positive for sentiment for UOB in terms of interbank liquidity," he said.

The 3-month Sibor or Singapore interbank offered rate is down from 1.03 per cent on April 9 to 0.89 per cent on Monday.

Until the latest price gains, UOB had underperformed relative to DBS Group Holdings and OCBC Bank.

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