Roundup: Singapore stocks end up 1.77 pct

Singapore shares closed 1.77 percent higher on Friday.

U.S. stocks rose overnight after oil staged a turnaround to end Thursday 3 percent higher on speculation a March meeting of major producers might stabilize prices.

Singapore's benchmark Straits Times Index rose 45.98 points to 2,649.38 points. Trading volume was 1.19 billion shares worth 1.08 billion Singapore dollars. Advancers outnumbered decliners 248 to 121, while 558 stocks did not move.

Among top actives, Noble Group jumped 6 percent to 35.5 Singapore cents. The commodity trader reported an annual loss of 1.67 billion U.S. dollars after the non-cash impairment charge, versus a profit of 132 million U.S. dollars a year ago on a 22 percent fall in revenue. It proposed no dividend for last year. It said it had 2.2 billion U.S. dollars in readily accessible cash plus undrawn committed bank lines as of December. In addition, the company says it will get 1 billion U.S. dollars more cash by the end of March, mostly proceeds from the sale of its remaining stake in its agricultural unit.

ST Engineering rose 1.4 percent to 2.85 Singapore dollars. The defense contractor reported a 1 percent fall in full-year earnings to 529 million U.S. dollars, or 17.05 U.S. cents per share, from 532 million U.S. dollars a year ago. In the fourth-quarter ended December last year, the group reported revenue of 1.78 billion U.S. dollars compared to 1.85 billion U.S. dollars in the same period last year. It said it has an order book of 11.7 billion U.S. dollars at end December 2015, of which about 3.8 billion U.S. dollars is expected to be delivered in 2016. The directors have recommended a dividend per share of 10 Singapore cents, unchanged from a year ago.

Among top gainers, Jardine Cycle and Carriage rose 3 percent to 37.70 Singapore dollars, while Great Eastern Holdings became one of the top losers by falling 0.3 percent to 20.21 Singapore dollars. (1 U.S. dollar equals to 1.40 Singapore dollars) Endit