Market highlights

1. Oil prices firmed on an announcement that producers will meet next month in Qatar to discuss a proposal to freeze output and on growing signs of a decline in US crude production, Reuters said.

2. German reinsurer Munich Re is boosting its gold and cash reserves in the face of the punishing negative interest rates from the European Central Bank, Reuters reported.

3. Listed property firm Hiap Hoe has agreed to sell a property in the central business district of Melbourne in Australia - at 380 Lonsdale Street - to the Brady Property Group for A$60 million (S$62 million).

4. Mobile-phone player M1 bought back one million of its shares yesterday at prices ranging between $2.57 and $2.59.

5. SGX-listed Food Empire's 51 per cent-owned unit is increasing its stake in Caffebene - one of South Korea's largest coffee house chains with about 1,000 stores worldwide.

A version of this article appeared in the print edition of The Straits Times on March 17, 2016, with the headline 'Market highlights'. Print Edition | Subscribe