What’s happening in the markets - 2 May
Daily Sprout 🌱 (2 May)
The S&P 500 closed lower in a volatile session after the Federal Reserve kept interest rates unchanged and singled rate hikes were not probable. While stocks initially jumped after Fed Chairman Jerome Powell said further rate hikes were unlikely, these gains faded into the market close.
STI <Closed> HSI <Closed> NKY ⬇️ 0.34%
S&P 500 ⬇️ 0.34% Nasdaq ⬇️ 0.33% DJIA ⬆️ 0.23%
What's Sprouting
🌱 DBS reported a net profit of S$2.95 billion in the first quarter of 2024, an increase of 15% year-on-year and above market expectations of S$2.5 billion. DBS declared an interim dividend of S$0.54, and additional shares arising from its bonus issue will also qualify for this dividend.
🌱Parkway Life REIT reported an indicative distribution per unit (DPU) of 3.79 cents for the first quarter of 2024, an increase of 4.0% year-on-year. The higher distribution was supported by step-up lease arrangements from Singapore hospitals and some Japanese nursing homes.
🌱Cromwell European REIT reported an indicative distribution per unit of 3.505 Euro cents for the first quarter of 2024, a decline of 10.2% year-on-year. The fall in distributions was driven by asset sales in the previous year as well as an increase in finance costs.
Source: SGX, Bloomberg
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