Hot stock: Noble shares rise on sale of US energy unit
SHARES of commodities trader Noble Group climbed in early trading on Monday after it announced a US$1.05 billion sale of its unit Noble Americas Energy Solutions (NAES) to Calpine Corp.
The penny stock rose 6.8 per cent or 1.3 Singapore cents to S$0.205 as at 10.05am, on the back of 204.5 million shares traded. The counter eventually closed 0.6 of a cent or 3.1 per cent higher at S$0.198. Some 324 million shares changed hands.
The increase marked a minor recovery in the beleaguered counter, which used to be part of the Straits Times Index.
Noble had in August 2015 indicated the value of NAES to be more than US$1.25 billion.
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
Europe: Stocks retreat on earnings gloom, weak US economic data
US: Stocks hit by GDP data, Meta results
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling