Warrants Highlight

STI - To See New Bounce on Bernanke Comments?

Singapore Market Wrap

Range Bound Day without Much Excitement

The STI traded sideways throughout the day and ended 0.2% higher day-on-day (dod) at 2,979.78. The Nikkei was one of the best performing Asian indices, rising almost 1%, while the HSI fell 0.2%.

June Call STI 3000MBeCW120629 (P8BW) exercise level 3,000.*
June Put STI 2900MBePW120629 (P8CW) exercise level 2,900.*

Longer dated Call STI 3100MBeCW130131@ (PA7W) exercise level 3,100.*
Longer dated Put STI 2800MBePW130131@ (PA8W) exercise level 2,800.*

SembMarine, Keppel rose after ex-div
Both Sembcorp Marine and Keppel Corp went ex-dividend yesterday. SembMarine rose 2.8% dod to $5.14, while Keppel rose 1.2% to $11.13 (compared to theoretical ex-div prices). Crude prices have been rising for the past 4 trading sessions. The Nymex crude futures were trading around $104 per barrel at 5pm yesterday.

Call SembMar MBeCW120905 (P1FW) exercise price $5.20.*
Long dated call SembMar MBeCW130603 (M8NW) exercise price $5.747.*

Call KepCorp MBeCW130103 (MV8W) exercise price $10.909.*
Call KepCorp MBeCW120801 (P1HW) exercise price $11.50.*
Long dated call KepCorp MBeCW130603 (M8PW) exercise price $11.818.*

Noble slipped to 3-month lows
Noble ended the day in its negative territory again yesterday, falling 2.0% to $1.22. Bloomberg reported that Noble's chairman Richard Elman said that he expects commodity prices to rise in the long term because of increasing transportation costs.

Call NobleGrpMBeCW121002 (P8JW) exercise price $1.40.*

Overnight Market Wrap

Bernanke Sees Accelerating Economy

Positive earnings from Apple and Boeing helped to lift market sentiments. US indices rose yesterday, the S&P500 rose 1.4% to 1,390.69, while the Nasdaq surged 2.3% to 3,029.63.

US Federal Reserve Chairman Ben Bernanke said that the Fed remained cautious on the recovery and he is ready to stimulate growth if necessary. The Fed expected the economy to grow around 2.4% to 2.9% this year, compared to a previous forecast of 2.2% to 2.7%. On a separate report, durable goods orders fell 4.2%, the biggest decline since Jan 2009.

Overnight Markets

Indices	Last	Change
STI	2979.78	0.2%
HSI	20646.29	-0.1%
DJIA	13090.72	0.7%
S&P 500	1390.69	1.4%
Nasdaq	3029.63	2.3%

Corporate News

Corporate Announcements

Yangzijiang posted a 1Q12 net profit of RMB 1.02 billion, a 7% from the previous year.

Results Announcement
Fri 27 Apr: DBS 1Q12
Mon 30 Apr: CapitaLand 1Q12, IndoFood 1Q12
Tue 8 May: Cosco 1Q12
Wed 9 May: UOB 1Q12, SembMarine 1Q12
Thu 10 May: Wilmar 1Q12, SingTel 4Q12
Fri 11 May: OCBC 1Q12

Ex-Dividend Date
Thu 26 Apr: STX OSV ($0.10)
Fri 27 Apr: OCBC ($0.15)
Mon 30 Apr: Cosco ($0.03), Golden Agri ($0.0184), SGX ($0.04)
Fri 4 May: Wilmar ($0.031), IndoFood Agri ($0.003)
Mon 7 May: UOB ($0.40), CapitaLand ($0.08)
Wed 9 May: DBS ($0.28), Genting ($0.01)