OSPL - Good Morning S'pore - Central Dealing Desk

Stock Name: OCBC Bk
Company Name: OVERSEA-CHINESE BANKING CORP

Research House: Credit Suisse

Price Call: HOLD

Target Price: 8.40

Stock Name: UOB
Company Name: UNITED OVERSEAS BANK LTD

Research House: Credit Suisse

Price Call: BUY

Target Price: 19.30

Stock Name: DBS
Company Name: DBS GROUP HOLDINGS LTD

Research House: OCBC

Price Call: HOLD

Target Price: 12.50

Market Compass

10 October 2011~ Good Morning Singapore!

Singapore Idea Snippets:

Singapore Stock News Singapore's Straits Times Indexrose 1.4 percent to 2,640.30. Banks: OCBC Cut to Underperform, UOB Lowered to Neutral by Credit Suisse. - OCBC downgraded from overperform because co. is most exposed to capital markets, most expensive on relative valuations, analyst Sanjay Jain writes in note to investors. Cuts PT 24% to S$8.40. - UOB downgraded from outperform, PT cut 20% to S$19.30; stock is most defensive in Singapore banking and remains CS top pick. - DBS maintained neutral, PT cut 24% to S$12.50 Commodity suppliers: The Thomson Reuters/Jefferies CRB index, which tracks prices of 19 commodities ranging from copper to corn, fell 0.4 percent in New York Oct. 7, snapping two days of advance. Noble Group Ltd. (NOBL SP), a Hong Kong-based commodities supplier, slipped 1.1 percent to S$1.365. Olam International Ltd. (OLAM SP),a Singapore-based supplier of agricultural commodities, gained 0.9 percent to S$2.28. Heng Long International Ltd. (HLONG SP): LVMH Moet Hennessy Louis Vuitton SA, the world's largest luxury-goods maker, said it agreed to purchase 51 percent of the Singapore-based crocodile-leather tannery for S$160.8 million ($124.2 million), the Paris-based company said in a statement. Heng Long climbed 2.8 percent to 56 Singapore cents when it last traded on Oct. 5 Medi-Flex Ltd. (MDFX SP): The maker of disposal gloves said fourth-quarter net income dropped 33 percent from a year earlier to 1.7 million ringgit ($537,889). The stock slumped 12 percent to 6 Singapore cents when it last traded on Sept. 29. Tiong Woon Corp. (TWC SP): The crane-leasing company said it won a contract to provide lifting and installation services to a refinery project being developed by Japan's JGC Corp. in Singapore. Financial details weren't disclosed. Tiong Woon was unchanged at 20 Singapore cents. Asia Stock News Most Asian stocks rose as Germany pledged to protect European banks from a debt crisis after Fitch Ratings downgraded Italy and Spain, easing concern the region's troubles will escalate and hurt export earnings. The MSCI Asia Pacific Excluding Japan Index was little changed at 382.87 as of 9:11 a.m. in Tokyo. About twice as many stocks rose as fell after German Chancellor Angela Merkel said European leaders would do "everything necessary" to ensure banks have adequate capital. Commodity News Oil climbed for a fourth day in New York as investors bet that fuel demand may increase on signs of an economic recovery in the U.S. and a pledge by Europe to contain its sovereign-debt crisis. Crude for November delivery advanced as much as 37 cents to $83.35 a barrel in electronic trading on the New York Mercantile Exchange and was at $83.29 at 10:32 a.m. Sydney time. Gold for December delivery increased 0.3 percent to $1,641.20 an ounce, while silver rose 1.2 percent to $31.350 an ounce. Gold for immediate delivery was little changed at $1,639.80 an ounce. Source: Bloomberg