Warrants Highlight

Latest Updates on Potential Genting Takeover

Singapore Market Wrap

Red to Green

It was a hard fought day for Singapore shares, which made their way from the red to green territory toward the market closing. The benchmark STI, which had been down 0.97% at the start of the day eventually finished up 0.33% day-on-day (dod) at 2,797.08 after European indices got off to an enterprising start (3pm Singapore time).

Call STI 2750MBeCW120831 (QP9W) exercise level 2,750.*
Call STI 2950MBeCW120831 (QE8W) exercise level 2,950.*
Put STI 2650MBePW120831 (QQ0W) exercise level 2,650.*
Put STI 2850MBePW120831 (QE9W) exercise level 2,850.*

Banks take credit for upward fight
The STI's move from red to green was led by the three Singapore banks, respectively, OCBC (+1.2% dod, $8.45), UOB (+1.1% dod, $17.89) and DBS (+0.9% dod, $13.36). Together, the banks' gains accounted for six of the STI's 9 point gain for the day.

Call DBS MB eCW120802 (P1CW) exercise price $12.70.*
Call DBS MB eCW120904 (QC6W) exercise price $14.00.*
Put DBS MB ePW121001 (QO9W) exercise price $13.00.*

Call OCBC Bk MBeCW120802 (P1VW) exercise price $9.00.*

Call UOB MB eCW121001 (QK4W) exercise price $17.30.*
Call UOB MB eCW130103 (MW0W) exercise price $19.397.*
Put UOB MB ePW121001 (QR3W) exercise price $16.40.*

Boost from contract win lingers for Ezion
Elsewhere, Ezion Holdings, spiked another 4.3% dod yesterday to take its total gains in the last week to 18%. A provider of offshore marine logistics and support services, Ezion had been placed on a temporary trading halt on June 6 as a result of its announcement of a US$86.3mn contract over a four-year period to provide a service rig for a national oil major in Central America. Its closing price of $0.845 yesterday was the stock's highest in a month.

Call EzionHldMBeCW121002 (P9CW) exercise price $1.10.*

Overnight Market Wrap

US stocks rally despite rising Spanish yields

The S&P500 closed on their highs yesterday, rising 1.2% to 1,324.18, despite European markets only rallying between 0.1% to 0.5%. US banks rose, with Citigroup rising 4.3%, Morgan Stanley rising 4.2% and JPMorgan Chase rising 2.9%.

After downgrading Spanish government ratings last week, Fitch downgraded another 18 more Spanish banks yesterday. Spanish borrowing cost rose to a euro-era record high. The 10-year government bond yield rose to 6.834%, while credit default swaps increased 12 basis points to 607.

Overnight Markets

Indices	Last	Change
STI	2797.08	0.3%
HSI	18872.56	-0.4%
DJIA	12573.80	1.3%
S&P 500	1324.18	1.2%
Nasdaq	2843.07	1.2%