10 Nov '11, 10am

Singapore stocks close 2.5% lower

SINGAPORE : Stocks in Singapore closed 2.5 per cent lower on concerns over Europe's debt crisis after Italy's borrowing costs surged to record highs. The Straits Times Index fell 71.76 points to end at 2,786.90. Volume was 1.72 billion shares. Losers led gainers 419 to 106. Noble Group slumped 26.5 per cent to S$1.18 following the surprise resignation of its chief executive, Olam International fell 6.9 per cent to S$2.44, while Wilmar International slipped 3.5 per cent to S$5.17. Among banks, DBS declined 2.4 per cent to S$12.59, OCBC was down 2.2 per cent at S$8.30, while United Overseas Bank slid 2 per cent to S$15.87. Bucking the trend was SingTel which rose 0.6 per cent to S$3.18.

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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