Warrants Highlight

Greeks Polls Favour Pro-Bailout

Singapore Market Wrap

Below 2,800 for a second week

With all fronts looking like they are closer than ever to allowing and accepting a Greek drop-out from the euro, global equity markets traded a sullen week, staying below the key levels they had respectively fallen under. In Hong Kong, the HSI stayed below 19,000 while in Singapore, the STI continued being suppressed below the 2,800 mark, falling 0.3% week-on-week (wow) to 2,772.75.

Call STI 2950MBeCW120831 (QE8W) exercise level 2,950.*
Put STI 2850MBePW120831 (QE9W) exercise level 2,850.*
Call STI 3000MBeCW120629 (P8BW) exercise level 3,000.*
Put STI 2900MBePW120629 (P8CW) exercise level 2,900.*

Call HSI18600MBeCW120730 (QG2W) exercise level 18,600.*
Call HSI19600MBeCW120730 (QG3W) exercise level 19,600.*
Put HSI18200MBePW120730 (QG4W) exercise level 18,200.*
Put HSI19200MBePW120730 (QG5W) exercise level 19,200.*

Commodity stocks fall to three year lows
Commodity-related stocks were actively traded last week - stocks like Olam and Noble were amongst the top traded stocks in Singapore on most days. Unfortunately, the trading interest failed to translate into buying interest; both were heavily sold down along with most commodity counters. Olam was hammered down 4.3% wow to a three year low of $1.655. Also falling to new three year lows were coalminer Sakari Resources (-6.9% wow, $1.475) and palm oil giant Wilmar (-2.1% wow, $3.71). Noble performed better in comparison to these names with a 0.5% fall to $1.08 on Friday. Noble Group announced this morning that they have agreed to sell Temmar Port Terminal for 160m Reais (US$80.5mn) to Ultrapar Participacoes SA.

In the U.S, the Thomson Reuters/Jefferies CRB Index, which tracks 19 commodities ranging from copper to corn, also showed a slow down across most commodity prices, which fell 3.1% wow on the index.

Call OLAM MB eCW121005 (QF2W) exercise price $2.00.*
Call SakariMBeCW121102 (QE1W) exercise price $1.95.*
Call Wilmar MBeCW121102 (QF1W) exercise price $4.60.*
Call NobleGrpMBeCW121105 (QF8W) exercise price $1.20.*

Overnight Market Wrap

S&P500 Ended the Week Positive

S&P500 gained 1.7% to close at 1,317.82 last week, halting a 3-week losing streak. On Friday, the trading suspension of Spanish bank, Bankia's shares affected investor sentiments, dragging the US indices lower.

Euro extended its slide against the US Dollar. It dipped below $1.25, its lowest in almost 2 years. The Eurozone leaders are having different opinions on the idea of jointly issuing Eurobonds. Austria's finance minister rejected the idea on Friday, saying that its "nonsense" to finance growth with new debts.

Overnight Markets

Indices	Last	Change
STI	2772.75	-0.2%
HSI	18713.41	0.3%
DJIA	12454.83	-0.6%
S&P 500	1317.82	-0.2%
Nasdaq	2837.53	-0.1%

Corporate News

Corporate Announcements 

Noble Group announced that they have agreed to sell Temmar Port Terminal for 160m Reais (US$80.5mn) to Ultrapar Participacoes SA.

Results Announcement
Tue 29 May: Biosensors 4Q12