Wednesday, November 2, 2011

Market Daily -- 2nd Nov 11

10.  Cosco Corp: 3Q Net Profit Down 42% On Year At S$32.2 Mln

9.  United Overseas Bank 3Q Net S$522 Mln Vs S$688 Mln; Poll S$606.8 Mln
UOB 3Q Net Interest Income S$915 Mln Vs S$883 Mln
UOB 3Q Non-Net Interest Income S$446M Vs S$585M 
UOB 3Q Net Interest Margin 1.89% Vs 1.92% In 2Q
UOB 3Q Non-Performing-Loans Ratio 1.5% Vs 1.5% In 2Q 

8. Neptune Orient Lines Target Cut To S$0.90 From S$1.00 By Citi

7. DBS Group Target Raised To S$14.00 Vs S$11.90 By CIMB

6.  DBS CFO: Rising Singapore Swap Rate Should Take Pressure Off Net Interest Margins
DBS CEO: Not Seeing Any Decline In Asset Quality
DBS CEO: Expects Singapore Benchmark Borrowing Rates To Remain Choppy
DBS CEO: Doesn't Expect Net Interest Margin To Fall Significantly Further 
DBS CEO: Cost-To-Income Ratio Could Peak Just Below 45%
DBS CEO: Offshore Yuan Deposits Now At About CNY50 Bln
DBS CEO: Would Consider Buying Assets Of European Banks In Asia If Available

5. Fraser & Neave Target Raised To S$7.57 Vs S$6.90 By CLSA

4. Singapore's UE E&C Target Raised To S$0.65 From S$0.41 By OCBC

3. Hongkong Land Target Cut To US$4.40 Vs US$6.91 By BarCap

2. DBS Group: 3Q Net Profit S$762M Vs S$722M; Expected S$665.8M
DBS Group 3Q Net Interest Income S$1.21B Vs S$1.08B
DBS Group 3Q Noninterest Income S$754M Vs S$730M
DBS Group 3Q Nonperforming Loan Ratio 1.3% Vs 1.5% In 2Q 

1. The Dow Jones industrial average fell 297.05 points, or 2.48 percent, at 11,657.96. The Standard & Poor's 500 Index lost 35.02 points, or 2.79 percent, at 1,218.28. The Nasdaq Composite Index dropped 77.45 points, or 2.89 percent, at 2,606.96