Market highlights

1. GlaxoSmithKline, the United Kingdom's biggest drugmaker, posted fourth-quarter earnings that missed analysts' estimates as sales of its pharma unit fell. Profit excluding certain costs fell 23 per cent to £1.36 billion (S$2.8 billion), Bloomberg said.

2. Merck & Co reported lower-than-expected quarterly revenue.It said sales of its diabetes drug Januvia fell 12 per cent to US$1.45 billion, while sales of the arthritis drug Remicade fell 29 per cent to US$396 million, Reuters said.

3. Global Palm Resources is likely to report net profit substantially lower than that in the preceding year ended Dec 31. The decline is primarily due to a decrease in sales revenue and average selling price of crude palm oil and palm kernel.

4. Seroja Investments expects to report a loss for the year to Dec 31, due mainly to the disposal of a Panamax vessel that had already impacted negatively on the group's results for the third quarter ended Sept 30.

5. Ley Choon said the Singapore Exchange will review its compliance with the minimum trading price requirement on Sept 1, instead of March 1.

A version of this article appeared in the print edition of The Straits Times on February 04, 2016, with the headline 'Market highlights'. Print Edition | Subscribe