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.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Singapore shares rise at Tuesday’s open tracking global rally; STI up 0.2%
ETF popularity poised to stay as investors flock to diversification, stability
Stocks to watch: FLCT, Paragon Reit, AA Reit, Lendlease Global Reit, Far East Orchard, SIA
Europe: Shares close at highest in a week; Indra surges
US: Stocks rise again, extending rally
Morgan Stanley strategists see inflation as key for path of US stocks