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Singapore shares retreat from two-week high, Noble gains

Published on Mar 25, 2014 1:14 PM

SINGAPORE (Reuters) - Noble Group outperformed the Singapore market on Tuesday, matching a more than one-year high hit two weeks ago, while the index retreated after hitting a two-week high in the previous session.

Shares of the commodity trading firm rose as much as 2.8 per cent to $1.11, last seen on March 11.

Yanzhou Coal Mining Co has ditched a plan to buy the minority shares in its Australian arm Yancoal Australia, in which Noble is a key minority shareholder and had asked Yanzhou to improve its offer.

The benchmark Straits Times Index weakened nearly 0.3 per cent to 3,102.87 as of midday, after reaching a near two-week high of 3,121.39 in the previous session and rising 1.3 per cent, its biggest daily gain in more than six months.

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