Jumbo, Tiger and NOL offer highlights in otherwise quiet market
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THE debut of Jumbo Group, the general offer by Singapore Airlines (SIA) for Tiger Airways and Neptune Orient Lines' announcement that it is in takeover talks were on Monday the main features of an otherwise bland session in which prices drifted in low volume.
This was perhaps to be expected, given the public holiday on Tuesday and rising expectations of a US interest rate hike next month after Friday's stronger-than-expected US employment figures. As a result, the Straits Times Index drifted within a narrow band for most of the day before finishing a net 12.75 points weaker at 2,997.72.
At 1.2 billion units worth S$1 billion, turnover was slightly above that of previous days but still weak, nonetheless. Of this, 196.3 million worth S$624 million came from trading in the 30 index members.
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