The STI opened marginally higher yesterday on the positive movements in the US markets on Monday night. The benchmark index for Singapore traded in a narrow range yesterday with the STI closing at 3180.92, its highest close since 16 Aug.

Singtel is the third biggest constituent stock in the STI, representing 10.2% of the index weightage. Its share price performance makes a significant impact to the STI trading level.

Singtel was the market leader among the STI constituent stocks yesterday, contributing 5.2 points to the STI gain for the day. Closing at $3.75, the stock is trading near its highest level since 19 August.
 
Singtel and Optus Business secured A$530m contract with ANZ

On 12 September, Singtel and Optus Business announced that the group secured a A$530 million contract with ANZ to provide telecommunication and managed services to the Australian bank for another five years.

According to a report on Today, Singtel and Optus entered into a A$500 million five-year contract with ANZ in 2009 to provide telecommunication and global managed network services to the bank in Australia and 30 other countries across Asia and the Pacific. Singtel’s CEO, Chua Sock Koong said that the deal renewal demonstrates the ability of Singtel and Optus Business to support customers’ growth ambitions not just locally, but globally.
 
Recent performance of Singtel

Singtel gained more than 6.8% this month, as shares of the biggest telecommunication company in Asia rebound from its lowest trading price in over six months. Singtel gapped up to open at $3.65 on Monday, as news of Lawrence Summers withdrawing from the contest for Federal Reserve chairman lifted Asian equity markets on Monday morning.

Singtel continued its rally yesterday, adding another 1.6%. The stock traded and closed above its 50-day moving average price of $3.73, an indicator that is positively viewed by traders.

Source: Macquarie Research - 18 Sep 2013