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Singapore Market Wrap

DBS steals show

After yet another temporary mid-way stint above the 3,000 mark, the STI saw an anti-climax finish to the week, closing at 2,990.59. The overall bourse was up for the week notwithstanding, gaining 0.3% week-on-week (wow).

Call STI 3000MBeCW120629 (P8BW) exercise level 3,000.*
Put STI 2900MBePW120629 (P8CW) exercise level 2,900.*
Long dated STI 3100MBeCW130131 (PA7W) exercise level 3,100.*
Long dated STI 2800MBePW130131 (PA8W) exercise level 2,800.*

The bourse's overall gain for the week was helped by index heavyweight DBS. Its stock climbed 1.4% wow to $14.19 on Friday. The stock was an outperformer all week, following the announcement of its record Q1 numbers on April 27. DBS posted a 16% increase in its 1Q12 net profit rose to a record $933mn. Total income had crossed $2bn for the first time while net interest income was also at a record $1.34bn.

Its counterparts are scheduled to report this week - UOB on Wednesday and OCBC on Friday. Both put in relatively subdued performance last week, with UOB unchanged at $19.00 whilst OCBC inched up a mere 0.1% wow to $8.96.

Call DBS MB eCW120702 (P0VW) exercise price $13.90.*
Call DBS MB eCW130102 (O9KW) exercise price $14.00.*
Put DBS MB ePW120718 (P2NW) exercise price $12.80.*

Call UOB MB eCW120702 (P0XW) exercise price $17.80.*
Call UOB MB eCW130103 (MW0W) exercise price $19.397.*

Call OCBC Bk MBeCW120802 (P1VW) exercise price $9.00.*
Put OCBC Bk MBePW120718 (P2OW) exercise price $8.40.*

Overnight Market Wrap

Stocks Fell on U.S Jobs Data

Last Friday, equity markets slumped in the U.S after the U.S Labour Department showed payrolls climbed by 115,000 in April, below consensus estimates. The S&P 500 tumbled 1.6% last Friday. Bloomberg also reported a purchasing managers index in Europe dropped to 46.7, below the initial estimate of 47.4. Readings below 50 indicate a contraction in manufacturing.

Early this morning, U.S futures continued to trade in the red with no rebound in sight and the Euro fell below $1.30. Markets are jittery after the French and Greek elections, with Francois Hollande ousting his rival Nicolas Sarkozy in France. Hollande is pro-spending and delayed deficit reduction. Over in Greece, voters supported political parties which are against bailout measures, raising concerns among investors about the country's ability to impose austerity measures.

Overnight Markets

Indices	Last	Change
STI	2990.59	-0.3%
HSI	21086.00	-0.8%
DJIA	13038.27	-1.3%
S&P 500	1369.10	-1.6%
Nasdaq	2956.34	-2.3%

Corporate News

Corporate Announcement

Results Announcement
Tue 8 May: Cosco 1Q12
Wed 9 May: UOB 1Q12, SembMarine 1Q12, Ezion 1Q12
Thu 10 May: Wilmar 1Q12, SingTel 4Q12, Genting Singapore 1Q12, Noble Group 1Q12
Fri 11 May: OCBC 1Q12, Golden Agri 1Q12
Mon 14 May: STX OSV 1Q12
Tue 15 May: Olam 3Q12

Ex-Dividend Date
Mon 7 May: UOB ($0.40), CapitaLand ($0.08)
Wed 9 May: DBS ($0.28), Genting ($0.01)
Thu 17 May: Yangzijiang ($0.055)