Daily Archives: September 4, 2018

4Sep

Singapore Stock Watch: Offer buybacks on SGX hit 35-month high in August

Singapore Stock Watch:
Offer buybacks moved to a 35-month-high in August as exactly 43.6 million offers worth S$245.4 million were repurchased by upwards of 30 organizations, more than twice July’s buyback thought of S$109 million.

A month ago’s estimation of offer buybacks is additionally in excess of four times August 2017’s aggregate thought of S$59.7 million, said bourse administrator Singapore Exchange (SGX) in a SGX My Gateway report.

DBS Group Holdings bested the rundown of offer buyback by esteem, gathering up 5.95 million of its own offers for S$150.8 million, or about 61 for every penny of the estimation of all offer buybacks in August.

Other record stocks CapitaLand, UOB, OCBC Bank and City Developments balanced the main five offer buybacks by esteem. The five organizations together represented about S$230.2 million, or 93 for every penny of August’s buybacks.SGX

Organizations purchase back their own particular offers for various reasons, running from their offers being underestimated to a craving to enhance budgetary proportions, for example, income per share. They likewise accept the open door when costs are low to purchase shares that can be reissued to senior administration as a component of their compensation bundle.

The Straits Times Index (STI) produced a three for each penny value fall in August as exchange strains between the US and China kept on putrefying and developing business sector monetary standards kept on debilitating.

Nine organizations began new buyback orders in August. These included City Developments, Stamford Land Corporation, Singapore Shipping Corporation, Maxi-Cash Financial Services Corporation and Japan Foods Holding among others.

A comparative number of stocks started buyback commands a month ago.

HRnetGroup posted the biggest buyback thought by a non-record stock in August. The Singapore-headquartered enrollment office, which has organizations crosswise over Asia, purchased back 2.4 million offers for a thought of S$2.2 million.

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4Sep

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices fell Monday morning in Asia, a day after Chinese President Xi Jinping gave a speech about his government’s determination to engage in economic reforms amid an escalating trade war between Beijing and Washington. Gold futures for December delivery were down by 0.15% to $1,204.90 per troy ounce at 1:20AM ET (05:20 GMT) on the Comex division of the New York Mercantile Exchange.
  • OPEC crude production rose in August to the highest level this year as a recovery in Libyan output helped to offset a cut in Iranian exports due to U.S. sanctions. The group’s 15 members, which now include the Republic of Congo, collectively produced 32.74 million barrels a day last month, an increase of 420,000 barrels a day from July, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data.
  • Oil prices rose on Monday, supported by concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November, but gains were limited by higher supply from OPEC and the United States. Brent crude oil (LCOc1) was up 50 cents at $78.14 a barrel by 1215 GMT. U.S. crude (CLc1) was 10 cents higher at $69.90. The two benchmarks have risen strongly over the last two weeks with Brent gaining more than 10 percent on expectations that global supply will tighten later this year.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Britain’s finance ministry is in talks with the Bank of England over whether Governor Mark Carney is willing to stay beyond his planned departure date of June 30 next year, amid difficulties finding a successor, the BBC reported on Monday. Carney originally planned to serve just five years of a maximum eight-year term as governor, but in October 2016 he agreed to stay an extra year, until mid 2019, to see Britain past its expected departure from the European Union.
  • The European Commission proposed on Monday opening formal talks with the United States to address U.S. concerns that its farmers do not get a fair share of the Europe’s beef market. The move is not part of the agreement struck between the Commission President Jean-Claude Juncker and U.S. President Donald Trump in July, but could serve to ease mounting trade tensions between the transatlantic partners.
  • The leaders of the parties in Italy’s coalition government have signaled they will seek leeway for deficit spending next year, putting it on a collision course with the European Commission and investors. After Fitch cut the outlook on Italy’s debt rating on Friday, neither Matteo Salvini nor Luigi Di Maio – the heads of the League and 5-Star Movement respectively – backed away from campaign promises to cut taxes and boost welfare spending.

COMEX GOLD SIGNAL

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