Market highlights

1. Brazilian miner Vale reported a fourth-quarter net loss of US$8.57 billion (S$12 billion) yesterday, missing analyst forecasts and heaping further pressure on the world's largest producer of iron ore, Reuters reported.

2. Seadrill, the oil-rig company controlled by billionaire John Fredriksen, beat profit estimates as it deepened cost cuts to counter a slump in demand for offshore drilling. It rose as much as 10 per cent in Oslo, Bloomberg reported.

3. SGX-listed Khong Guan Flour Milling expects a loss for the half year ended Jan 31, owing mainly to provisions for fair value loss on short-term quoted securities, and foreign exchange losses from the weak ringgit.

4. Property player Lian Beng plans to acquire Broadway Plaza for $51.5 million. It is a leasehold five-storey commercial property in Ang Mo Kio Central. The investment is for rental returns.

5. Anwell Technologies said the High Court has granted its application to place itself under judicial management.

A version of this article appeared in the print edition of The Straits Times on February 26, 2016, with the headline 'Market highlights'. Print Edition | Subscribe