Market highlights

1 Russian gas giant Gazprom saw its profits fall by 5 per cent, as lower gas prices meant it failed to cover growing expenses. Profits fell to 362 billion roubles (S$7.5 billion) from 382 billion roubles in the first quarter of last year.

2 China's Cosco Shipping agreed to buy 51 per cent of Piraeus Port in April for €280.5 million (S$420 million) under a deal signed with the HRADF, Greece's privatisation agency.

3 Insurer Prudential posted a forecast-beating 6 per cent rise in first-half operating profit to £2.06 billion (S$3.6 billion), led by growth in Asia, the firm said yesterday. The company posted operating profit of £743 million in Asia.

4 Singapore's oil refining profits dropped to two-year lows yesterday. Refinery margins DUB-SIN-REF in Singapore, the Asian benchmark, fell to US$2.94 per barrel, down by more than 70 per cent since January.

5 Waskita Beton Precast is seeking to raise as much as US$402 million (S$536 million) in what could be Indonesia's biggest initial public offering in six years. The company plans to sell 10.54 billion shares at 400 to 500 rupiah each.

A version of this article appeared in the print edition of The Straits Times on August 11, 2016, with the headline 'Market highlights'. Print Edition | Subscribe