Following are some company-related and market news which could have an impact on the local market.
--------------------MARKET SNAPSHOT @ 0020 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1353.33 -0.16% -2.160
USD/JPY 81.12 -0.02% -0.020
10-YR US TSY YLD 1.5978 -- 0.003
SPOT GOLD 1716 0.05% 0.810
US CRUDE 85.48 0.04% 0.030
DOW JONES 12542.38 -0.23% -28.57
ASIA ADRS 117.34 1.24% 1.44
GLOBAL MARKETS-Shares drop on global economic worries
SE ASIA STOCKS-Singapore at 4-month low
Singapore cuts 2012 GDP outlook, Q3 worse than forecast
STOCKS TO WATCH
- FRASER & NEAVE, OUE
A consortium led by Overseas Union Enterprise Ltd launched a S$13.1 billion ($10.7 billion) bid for Fraser and Neave Ltd (F&N), trumping a takeover offer from Thailand's third-richest man for the Singapore conglomerate.
The consortium is offering S$9.08 per share for F&N, beating the Thai offer of S$8.88 a share.
The new offer, made at a discount to F&N's last traded price of S$9.13, values the company in the middle of the S$11.9 billion-16.1 billion range estimated by F&N's independent financial adviser, JP Morgan.
Passenger load factor (PLF) at the airlines edged up to 77.8 percent in October from 76.7 percent a year ago, while cargo load factor fell to 63.9 percent from 66.3 percent.
"Systemwide PLF improved on the back of increased promotional activities, especially on long haul sectors to Americas and Europe route regions," the airlines said in a statement.
"PLF on the South West Pacific route region declined as growth in demand was outpaced by the increase in capacity. Ongoing efforts to stimulate demand will continue to put pressure on yields."
MARKET NEWS > Nikkei up after calls for BOJ easing by next likely PM > Wall St ends flat as wary investors stay defensive > U.S. debt prices edge up on "fiscal cliff" worries > Yen steadies after plunge on BOJ easing expectations > Gold falls to 1-week low on global economic worries > Oil drops on weak economic data > Key political risks to watch in Singapore
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