SG Morning Highlights: DBS Q1 profit down 10% to S$1.8b
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Friday; STI up 0.67%
●DBS Q1 profit down 10% to S$1.8b
●Stocks to watch: OCBC, UOB and SPH Reit
-moomoo News SG
Market Trend
Singapore shares opened higher on Friday. The $富時新加坡海峽指數(.STI.SG)$ increased 0.67 per cent to 3,357.35 as at 9.00am.
Advancers / Decliners is 74 to 37, with 58.40 million securities worth S$94.43 million changing hands.
●Singapore shares opened higher on Friday; STI up 0.67%
●DBS Q1 profit down 10% to S$1.8b
●Stocks to watch: OCBC, UOB and SPH Reit
-moomoo News SG
Market Trend
Singapore shares opened higher on Friday. The $富時新加坡海峽指數(.STI.SG)$ increased 0.67 per cent to 3,357.35 as at 9.00am.
Advancers / Decliners is 74 to 37, with 58.40 million securities worth S$94.43 million changing hands.
Breaking News
DBS Q1 profit down 10% to S$1.8b
Singapore's largest bank DBS reported a net profit of S$1.8 billion for the first quarter ended Mar 31, 2022, down 10 per cent from the record S$2.1 billion posted a year ago.
This was in line with a S$1.88 billion consensus estimate from analysts polled by Bloomberg.
In a trading update on Friday (Apr 29), the bank attributed its weaker earnings to a high base for wealth management and treasury markets activities a year ago, when “buoyant market sentiment and clear market momentum had driven income from both activities to exceptional levels”.
Stocks to Watch
Stocks to Watch
$OCBC Bank(O39.SG$ : OCBC reported S$1.36 billion in net profit for the quarter to March, 10 per cent lower than the record earnings of S$1.5 billion a year ago, as the local bank's wealth management fees, trading income and life insurance profit slipped.
The poorer showing from wealth management fees and trading income - expected by analysts - was announced in the bank's financial results released in pre-trading hours on Friday (Apr 29) for the first quarter of FY2022.
$UOB(U11.SG$ : UOB reported on Friday (Apr 29) that Q1 net profit fell 10 per cent on year to S$906 million, as total income was impacted by market volatility.
Its net profit for the 3 months ended Mar 31, 2022 was also 11 per cent lower quarter on quarter, and fell short of the S$1.037 billion average estimate from 5 analysts polled by Bloomberg.
Total income for the first quarter fell 5 per cent on year to S$2.4 billion, dragged by lower net fee income and other non-interest income.
$PARAGONREIT(SK6U.SG$ : Cuscaden Peak will offer to acquire SPH Reit at S$0.9372 per unit, which is the minimum offer price required after adjusting for recent SPH Reit distributions.
The offer price is 3.9 per cent below SPH Reit's last traded price, on Thursday (Apr 28), of S$0.975. It is also 2.8 per cent below SPH Reit's daily volume-weighted average price (VWAP) over the last month.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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