Singapore stocks end up 0.21 pct

Singapore shares closed 0.21 percent higher on Tuesday, as investors shrugged off Italian Prime Minister Matteo Renzi's resignation, following voters' rejection of his constitutional reforms.

The Italian referendum stoked worries about Italy's political stability and its banking system, but investors took some comforts from the defeat in Austria's presidential election of a far-right candidate by a pro-European one.

Meanwhile, U.S. stocks continued to rise on Monday amid rally in oil prices. Overnight, Brent crude futures once rose above 55 U.S. dollars a barrel for the first time since July last year.

Singapore's benchmark Straits Times Index rose 6.07 points to 2,949.12 points. Trading volume was 1.75 billion shares worth 1.14 billion Singapore dollars. Advancers slightly outnumbered decliners 218 to 209, while 672 stocks did not move.

Among top actives, Yuuzoo Corporation rose 2 percent to 15.5 Singapore cents. It has launched YuuWallet, a proprietary electronic wallet designed for use in developing markets as well as developed markets with low credit card penetration. YuuWallet will be fully embedded into YuuZoo's social e-commerce platform, and marketed through the latter's network of franchisees and partners.

Super Group rose 0.8 percent to 1.275 Singapore dollars. Its net profit edged down slightly to 7.4 million Singapore dollars for the three months ended September. Its revenue declined by 1 percent during the period to 119.5 million Singapore dollars as food ingredient sales shrank 5 percent to 40 million Singapore dollars due to a slowdown in South-east Asia, especially in Indonesia and the Philippines.

Among the top gainers, Jardine Cycle and Carriage rose 2.9 percent to 41.56 Singapore dollars, whereas Jardine Matheson became one of the top losers by falling 1.6 percent to 54.08 U.S. dollars. (1 U.S. dollar equals to 1.42 Singapore dollars) Endit