Roundup: Singapore stocks end up 0.21 pct

Singapore shares closed 0.21 percent higher on Friday as investors waited for another key U.S. industrial production data due later Friday.

U.S. stocks rallied overnight after latest U.S. economic data painted an improving employment picture with subdued producer price inflation. U.S. investors bet that the Federal Reserve would raise interest rates later rather than sooner this year.

Singapore's benchmark Straits Times Index rose 7.32 points to 3, 463.1 points. Trading volume was 1.22 billion shares worth 1.02 billion Singapore dollars. Advancers outnumbered decliners 243 to 192, while 514 stocks did not move.

Olam International shed 1 percent to 1.98 Singapore dollars. It reported first-quarter net profit dropped 92.1 percent to 31.3 million Singapore dollars from 396.1 million Singapore dollars a year ago, mainly due to a one-time loss of 97.2 million Singapore dollars from the buyback of 750 million U.S. dollars worth of bonds due 2018. The buyback is expected to generate an interest saving of up to 60 million Singapore dollars a year over the next three years.

Singapore Airlines Limited rose 0.6 percent to 11.71 Singapore dollars. The Singapore's flag carrier reported a 58 percent rise in operating profit to 409.4 million Singapore dollars in the year ending March, supported by lower fuel costs. For the fourth- quarter ending March, it swung to an operating profit of 91.9 million Singapore dollars from an operating loss of 60.3 million Singapore dollars a year ago. But it also reported a full-year fuel hedging loss of 549 million Singapore dollars as a result of falling oil prices, and also highlighted fierce competition and soft demand on its key routes.

Among top gainers, Jardine Cycle and Carriage rose 0.6 percent to 41.08 U.S. dollars, while Jardine Strategic became one of the top losers by falling 0.7 percent to 35 U.S. dollars. (1 U.S. dollar equals to 1.33 Singapore dollars) Endi