Markets highlights

1. European stock markets declined after French bank Credit Agricole and German carmaker BMW posted disappointing results. Energy stocks were also affected by weak oil prices.

2. Alibaba has appointed a former top Goldman Sachs executive as president to lead the Chinese e-commerce giant's international expansion. Mr Michael Evans has been an independent director at Alibaba since its listing.

3. Sino Construction said it expects to report a net loss for the second quarter ended June 30. This will mainly be attributable to administrative and operating expenses incurred as part of its restructuring process.

4. Offshore engineering firm Swiber has sealed a US$80 million (S$110 million) contract with a first-time client in Latin America to install pipelines.

5. Terratech Group, which produces marble slabs and blocks in Malaysia, is issuing $30 million of 4 per cent convertible notes, due in 2018 to to Advanced Strategy. The notes will be issued in three tranches. Arranger Sai Yi Hong will get a fee of $1.5 million.

A version of this article appeared in the print edition of The Straits Times on August 05, 2015, with the headline 'Markets highlights'. Print Edition | Subscribe