Roundup: Singapore stocks end up 0.27 pct

Singapore shares closed 0.27 percent higher on Wednesday, as investors hoped that Greece will reach a deal with its creditors.

The European Central Bank, the European Commission and the International Monetary Fund agreed on the terms of a cash-for- reform deal to be put to Greece in a bid to conclude four months of debt stalemate. But it was far from clear if the leftist government of Prime Minister Alexis Tsipras would accept the plan. Still, the markets across the globe took it as an encouraging step forward.

The benchmark Straits Times Index rose 9.09 points to close at 3,349.84 points. Trading volume was 1.32 billion shares worth 1.5 billion Singapore dollars. Decliners outnumbered advancers 249 to 199, while 512 stocks closed unchanged.

Global Logistics Properties Limited rose 1.43 percent to 2.83 Singapore dollars. It announced that it has leased out 146,000 square meters of logistics space. These leases are to repeat customers, including Best Logistics, Deppon Logistics and Gooddaymart. These three are amongst Global Logistics Properties' top 10 customers. This space is to cater to domestic consumption demand over a range of industries.

Global Invacom Group Limited dropped 0.7 percent to 15.2 Singapore cents. It announced it intended to acquire Skyware Global, a leading U.S. manufacturer of satellite terminals, for up to 11.6 million U.S. dollars by issuing approximately 6.6 million U.S. dollars in treasury shares and entering into a cash earn-out model to pay Skyware up to a maximum of 5 million U.S. dollars. The transaction will position Global Invacom as a world leader in satellite communications equipment with manufacturing presence in U.S., Europe, and Asia.

Among the top gainers, DBS Group rose 1.3 percent to 20.11 Singapore dollars, while Jardine Matheson dropped 0.6 percent to 60.05 U.S. dollars. (1 U.S. dollar equals to 1.35 Singapore dollars) Endi