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Noble outperforms flat Singapore index, hits 2-year high

Published on May 28, 2014 1:23 PM

SINGAPORE (Reuters) - The Singapore index was little changed on Wednesday, with most stocks lacking clear direction, while Noble Group continued its winning streak to touch its highest level in two years.

The benchmark Straits Times Index was almost flat at 3,275.75. Regional markets performed better, with MSCI's broadest index of Asia-Pacific shares outside Japan rising 0.4 per cent, buoyed by U.S. markets.

Noble shares easily outperformed the Singapore market with a 3.7 per cent surge to $1.39, its highest since April 2012. The commodities firm was also the top traded stock on the bourse by value, with the number of shares changing hands close to 1.5 times its 30-day average.

Thomson Reuters data showed four out of 16 analysts with a"strong buy" rating on Noble, while seven recommended a "buy"and two a "hold".

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