STI back in positive territory for the year

A 5 PER cent jump in oil to around US$47 per barrel and a rise - albeit modest - in the Dow futures on Thursday propelled the Straits Times Index (STI) to a 27.7-point or 0.97 per cent gain at 2,885.71, about three points into the black for 2016.

Turnover, however, remained weak at 1.52 billion units worth S$867.9 million and, excluding warrants, the advance-decline score was 239-144.

The surge in oil came after the Organization of the Petrol Exporting Countries or Opec agreed to the outline of a deal that will cut production for the first time in eight years, surprising markets.