SINGAPORE, May 11 (Reuters) - Oil rig-maker Sembcorp Marine
(SCMN.SI) may be in focus after Deutsche and JPMorgan upgraded
their share price targets for the company, citing its strong
first quarter results.
U.S. stocks rose on Friday, and the Nasdaq capped its
longest stretch of weekly gains in a decade as stress test
results and reassuring jobs data fueled hopes the worst is over
for banks and the economy.
----------------------MARKET SNAPSHOT @ 0018 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 929.23 2.41% 21.840
USD/JPY JPY= 98.75 0.04% 0.040
10-YR US TSY YLD US10YT=RR 3.28 -- -0.009
SPOT GOLD XAU= 916 -0.01% -0.050
US CRUDE CLc1 58.3 -0.56% -0.330
DOW JONES .DJI 8574.65 1.96% 164.80
ASIA ADRS .BKAS 110.43 3.71% 3.95
-------------------------------------------------------------
> Wall St leaps on bank optimism, jobs data [.N] >
Dollar falls to four-month low after jobs data [USD/] >
Bonds rise as employment outlook stirs worries [US/] >
Gold slips after US jobs data, inflation underpins [GOL/] >
Oil hits near 6 month high as US data spurs optimism [O/R]
Stocks and factors to watch:
-- SEMBCORP MARINE (SCMN.SI)
- Deutsche Bank upgraded the target price of Sembcorp
Marine on Monday to S$3.80 from S$2.75, citing the offshore rig
builder's strong first quarter results. Deutsche maintained its
"buy" rating on Sembcorp Marine, which posted a 34 percent jump
in first quarter net profit on Friday. J.P. Morgan also
upgraded its target price to S$3.15 from S$2.45, while
maintaining its "overweight" rating.
-- OCEANUS GROUP LTD (OCGL.SI)
- Oceanus Group, a land-based producer of Japanese
abalones, reported on Friday an 86.3 percent increase in first
quarter net profit to 107.9 million yuan ($15.82 million) from
a year ago, mainly on an increase in sales of abalone.
[ID:nSN5811471]
- Singapore's benchmark Straits Times Index .FTSTI fell
0.15 percent to 2,238.21 points on Friday.
- The Dow Jones Industrial Average .DJI rose 1.96 percent
to 8,574.65 points. The Nasdaq Composite Index .IXIC was up
by 1.33 percent to 1,739 points.
(Reporting by Eveline Danubrata; Editing by Saeed Azhar)
